ASX 200 up just 0.26%, led by banks, miners

The S&P/ASX 200 index closed at 7381.1 points with miners and banks leading the way, although economic data from China and New Zealand stoked inflation fears and sent bond yields up.

Australian stocks are poised to open higher following strong gains offshore. Picture: Christian Gilles/NCA NewsWire

Welcome to the Trading Day blog for Monday, October 18. Stocks were up just 0.1 per cent in the afternoon after early gains driven by banks and miners. The gains followed positive momentum in the US and major European markets.

China’s third-quarter economic growth slows sharply to 4.9 per cent.

The Dow rose 1.1 per cent to 35,294 on Friday and the S&P 500 closed up 0.75 per cent at 4471 points. The Nasdaq closed 0.5 per cent higher.

The UK’s FTSE 100 closed 0.4 per cent higher on Friday with Germany’s DAX up 0.8 per cent.

WTI crude rose 1.19 per cent to $US82.28 on Friday, while Brent jumped 1 per cent to $US84.86a barrel.

The gold price dropped 1.6 per cent to $US1768 on Friday, while iron ore dropped 55c to $US125.45 a tonne.

Shares in Goldman Sachs rose 3.8 per cent following strong earnings result.

Alcoa jumped 15 per cent after the aluminium producer announced a $US500m buyback and announced the resumption of dividend payments after five years.