Live: ASX 200 closes higher; Block, CSR among gainers

Local stocks end the week up. Retail trade lifts. Qantas promotes $3bn recovery. Atlassian loses $10bn in 10 minutes on quarterly loss. Pendal down on profit slides, Perpetual talks. Gas users take aim at producers.

Inflation and rates commentary and the darkening economic outlook are likely to weigh on equity investors. Picture: Gaye Gerard

Welcome to the Trading Day blog for Friday, November 4. The ASX 200 ends Friday and the week higher. Qantas promotes $3bn recovery. Block shares soar. Atlassian loses $10bn in 10 minutes on quarterly loss. Pendal down on profit slides, Perpetual talks. Gas users take aim at producers.

The ASX 200 closes up 0.5 per cent at 6892.50 and finishes the week up 1.6 per cent.

On Wall Street, the S&P 500 fell 1.1 per cent, the technology-focused Nasdaq Composite Index was off 1.7 per cent and the Dow Jones Industrial Average fell 0.5 per cent.

A day earlier, US Federal Reserve chairman Jerome Powell had warned of more rate rises as he delivered another 75 basis point hike.

The Bank of England’s 75 basis points hike overnight – the largest increase since 1989 – will likely drive the UK economy into a recession lasting over a year.

US 10-year bond yield rose to 4.15 per cent while the two-year bond yield also lifted to 4.71 per cent, the highest in 15 years.

Oil prices fell with global benchmark Brent crude down 1.5 per cent to $US94.67 per barrel and US Nymex off 2 per cent to $US88.17 per barrel.

The gold futures price is 1.2 per cent lower to $US1630.90 an ounce while iron ore futures rose 1.5 per cent to $US83.37 per tonne.