Market Update: The S&P/ASX 200 rose 0.3% to 5,389 points after decent gains across the U.S

Market Update: The S&P/ASX 200 rose 0.3% to 5,389 points after decent gains across the U.S. and European equity markets overnight. Financials were buoyant with all major banks rising between 0.5% to 1.4%. AMP bucked the trend dropping 4.3% as it issued a profit warning. Miners were mixed with BHP up 0.2% while RIO was flat. The AUD was lower to be trading at US$0.9607. The SPI was up 0.1% at 5,377 points on the Sydney Futures Exchange.