ASX 200 ends higher on miners and banks; Star CEO Matt Bekier quits

ASX ends six points higher but a jump in bond yields hit tech stocks. BHP led miners higher, Xero dropped, ASX CHESS faced a likely delay and Star Entertainment rose on CEO exit. 

Budget, geopolitical impacts likely to weigh on equity investors. Picture: Nikki Short

Welcome to the Trading Day blog for Monday, March 28. Australian ended slightly higher on miners and banks after hitting fresh 10-week highs earlier in the session. It comes as ASX flags a CHESS replacement system delay, Star Entertainment CEO Matt Bekier quits and bond yields jump as global rout continues.

The S&P/ASX 200 index finished 0.1 per cent higher to 7412.4.

In the US on Friday, the benchmark Dow Jones Industrial Average closed up 0.4 per cent, while the broad-based S&P 500 rose 0.5 per cent and the tech-heavy Nasdaq slipped 0.2 per cent.

Energy giants, iron ore miners and banks should fare well through the session on advances in oil and iron ore prices and rising bond yields.

Oil prices jumped on Friday, with WTI crude hitting $US113.90 a barrel, up 1.4 per cent, and benchmark international Brent oil higher at $US120.65 a barrel after also rising 1.4 per cent. Iron ore futures, meanwhile, gained 1.16 per cent to $US150.17 a tonne.

Safe-haven gold’s spot price was $US1957 an ounce in US trade.

Rising US bond yields will translate to higher bond yields locally. 

The local currency continues to trade above US75c.