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US shares mixed as health offsets mining rout
Tuesday, 10 May 2016 07:45:30 | Sue Lannin
There were 6 and 8 per cent falls for BHP Billiton and Rio Tinto respectively in US trade. (Reuters)
US stocks were mixed after a rally in healthcare stocks limited the losses from energy and mining companies because of a fall in commodity prices.
The Dow Jones Industrial Average fell 35 points, or 0.2 per cent, to 17,706.
Healthcare firm Allergan rose nearly 7 per cent after Teva Pharmaceuticals said it expected to finalise a $US40.5 billion deal to buy Allergan's generics business by June.
The S&P 500 was flat, putting on 1 point to 2,059.
The Nasdaq rose 14 points to 4,750.
In Europe, stocks mainly ender higher after the Greek parliament passed new austerity measures to avoid another debt crisis.
Eurozone ministers are aiming for a deal to release more bailout funds, and possibly debt relief, for Greece later this month.
The Athens Stock Exchange General Index in Greece put on two-thirds of a per cent.
The FTSE 100 in London fell 11 points to 6,115.
The DAX in Germany gained 111 points to 9,980.
German industrial orders rose nearly 2 per cent in March because of stronger demand for exports.
The CAC 40 in Paris put on 22 points to 4,323.
In Australian, the local market is set to open lower with the ASX SPI 200 down 16 points to 5,297.
Commodities were sold off overnight after weak trade figures in China, and on a higher greenback due to the possibility of more US interest rate rises.
Spot gold fell $US11to $US1,265 an ounce.
The price of oil has also dropped with West Texas crude oil is at $US43.44 a barrel.
The Australian dollar slipped around half a cent overnight to 73.11 US cents.
Its buying 50.70 British pence, 64.18 euro cents, 79.17 Japanese yen and $NZ1.08.
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