ASX 200 closes up; miners lead market higher; banks down

Macquarie tips $800m Qantas buyback. Gold miners lead ASX higher. Banks down on Westpac's profit dip. Snowy 2.0 expansion delays. Simonds tanks on housing woes. Suncorp declines as costs rise. Medibank won't pay ransom.

Bank results in focus for investors this week along with a number of confidence indicators. Picture: Gaye Gerard

Welcome to the Trading Day blog for Monday, November 7. ASX 200 ends higher led by gold miners. Banks down on Westpac's profit dip. Snowy 2.0 expansion delays. Simonds tanks on housing woes. Suncorp declines as costs rise. Medibank won't pay ransom.

ASX 200 ends 0.6 per cent higher at 6933.

Wall Street ended Friday with the S&P 500 up 1.4 per cent, the technology-focused Nasdaq Composite Index 1.3 per cent stronger and the Dow Jones Industrial Average also 1.3 per cent higher.

US 10-year bond yields rose to 4.16 per cent and US two-year yields lifted to near 4.66 per cent.

Oil prices are higher with the global benchmark Brent crude 4.1 per cent higher to $US98.57 per barrel and the US Nymex 5 per cent stronger at $US92.61 per barrel.

Gold futures price rose 2.8 per cent to $US1676.60 an ounce. Iron ore futures lifted 2.1 per cent to $US85.16 per tonne.

The Aussie dollar is lower at US64.18c in opening trade amid a wait and watch on US CPI figures later this week and any changes to China's pandemic restrictions.