America closed for the President's Day Holiday. In Europe:...

America closed for the President's Day Holiday.

In Europe:  German Dax -0.37%, French CAC -0.16%, London FTSE -0.24%.

In Commodities:  Brent Oil -0.3%, Copper up +0.2% but other base metals were down.  Spot Iron Ore up +2.8%.  

In London, BHP was up +1.3%.  Rio up +0.4%.

Four companies are reporting today:  Coca Cola Amatil (CCL), Fortescue Metal (FMG), Iluka Resources (ILU) and Sonic Healthcare SHL.

Latest news suggests that Greece has rejected proposals regarding its debt.  Here's a snippet from ***** News:

With U.S. markets closed in recognition of Presidents’ Day, there is no reaction in the gold market to another breakdown in talks between Greece and its European creditors.

According to media reports, the Monday meeting ended early with Greece pulling out of the talks, saying in an emailed statement that it is “absurd” and “unacceptable” to stick with the terms of its original bailout agreement.

The Australian market is always a bit of a lottery when the Americans are closed.  But, in the past, negative news about Greece has usually resulted in a knee-jerk reaction from financial markets.  Gold hasn't, however, reacted to the news.  Bad news about Greece usually is a positive for Gold (US$).  The Iron Ore Miners should get a boost from the big jump in Spot Iron Ore prices.

Redbacka