MARKET TALK: S&P/ASX 200 Up 0.3%; Supported By Banks

28th Jul 2010 01:42

0042 GMT [Dow Jones] S&P/ASX 200 up 0.3% at 4510.6, supported by banks, which are up 0.5%-1.3% on offshore peer strength after strong results from UBS and Deutsche Bank. Resources holding up despite overnight weakness in commodity prices and U.S. peers, with BHP (BHP.AU) up 0.5%, Rio (RIO.AU) up 0.6%, although Newcrest (NCM.AU) down 1.8%, after gold fell US$20 overnight. S&P/ASX 200 is consolidating within Tuesday's range, ahead of 2Q CPI data at 0130 GMT, after Wall Street was hemmed in by strong earnings reports and disappointing economic data. "We continue to have conflicting news from the U.S., in terms of corporate earnings and economic data," says BBY Senior Institutional Trader Peter Copeland. "The mood is still very cautious." (DWR) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 27, 2010 20:42 ET (00:42 GMT)