Market Update: The S&P/ASX 200 moved higher by 0.8% to 5,243 points

Market Update: The S&P/ASX 200 moved higher by 0.8% to 5,243 points. Financials were up with all the major banks strengthening between 0.5% and 1.3%. Resources were mixed with energy stocks advancing as crude oil was up last night. BHP added 0.3% while Santos rose 1.9%. Gold miners, on the other hand, were under pressure after spot gold dropped 2.4% overnight. Perseus Mining tumbled 6.5% and Newcrest Mining fell 2.5%. The AUD rebounded slightly to be trading at US$0.8874.The SPI was up 0.6% at 5,212 points on the Sydney Futures Exchange.