Market Update: The ASX 200 was up 0.4% at 5,380 points following last Friday night's rise in the US and European equity markets

Market Update: The ASX 200 was up 0.4% at 5,380 points following last Friday night's rise in the US and European equity markets. Both resources and financials were buoyant, with the exception of CBA, being down 2.4%. Other major banks were between 0.5% to 1.8% higher. BHP was up 0.8% and RIO was 2.3% higher. Gold miners were among the best performers within the resources sector as spot gold rose 1.2% in the last session. Resolute Mining surged 12.2% while Alacer gold and Silver Lake Resources both added 7.8%. UGL tumbled 11.6% as it did not declare any interim dividend and expects full year net profit at lower end of guidance. The AUD rebounded above USD 0.90 last Friday night. It is currently trading at USD 0.9052. The SPI was up 0.7% at 5,344 points on the Sydney Futures Exchange.