Global stockmarkets lost ground overnight after Spanish bond yields rose to levels viewed as unsustainable.
In Europe the UK’s FTSE 100 shed 35 points (-0.6%) to settle at 5627, whilst the French CAC (-0.4%) and German DAX (-0.4%) also lost ground.
Stateside, US stocks lost ground for a third session, the longest such streak in more than a month.
The Dow Jones lost 36 points (-0.3%) to settle at 12736, whilst the broader S&P (-0.2%) and tech-heavy NASDAQ (-0.2%) didn’t fare quite so badly.
The euro advanced from a two-year low versus the dollar as finance ministers from the 17-nation currency bloc met to discuss measures to ease its debt crisis.
The Aussie dollar slipped back a touch but held above the 1.02 handle. The local unit is currently buying US$1.0205.
The price of oil rose as a labor dispute threatened to stop production in Norway, with crude futures for August delivery climbing $1.54 to end at $85.99 a barrel on the NYMEX.
Gold futures finished the floor session at $1,589.10 an ounce, up $10.20 (+ 0.7%).
Today’s session will bring us data in the form of NAB business confidence, 11:30am, AEST.