The Australian stock market has trimmed early losses during mid-market trading on Monday, ending a four-session losing streak that had weighed on investor sentiment.
The benchmark S&P/ASX 200 Index gained 7.00 points or 0.08 percent to reach 8,748.20, after earlier touching a low of 8,734.00 and a high of 8,768.30 during the session.
The broader All Ordinaries Index also moved higher, rising 3.90 points or 0.04 percent to 8,924.10 as buying interest returned across several key sectors.
The recovery came despite Australian stocks closing significantly lower on Friday, making Monday’s turnaround a notable shift in market direction heading into the new week.
Energy stocks provided meaningful support to the session, with Woodside Energy and Origin Energy both adding almost 1 percent, while Beach Energy and Santos each gained more than 1 percent.
Among the major mining companies, Fortescue edged up 0.4 percent, though BHP Group lost almost 1 percent, Mineral Resources declined almost 2 percent, and Rio Tinto edged down 0.1 percent.
Technology stocks presented a mixed but generally positive picture, with Afterpay owner Block and WiseTech Global each edging up between 0.3 and 0.4 percent, while Xero posted a stronger gain of almost 3 percent.
Gold miners were mostly higher, with Genesis Minerals adding almost 1 percent and both Northern Star Resources and Newmont gaining more than 1 percent, though Evolution Mining dropped almost 3 percent.
Three of the big four banks moved higher, with Commonwealth Bank, ANZ Banking, and Westpac each edging up between 0.3 and 0.5 percent, while National Australia Bank slipped almost 1 percent.
The standout mover of the session was FleetPartners, with shares soaring almost 10 percent after the company granted SG Fleet, ORIX, and the Sumitomo Consortium access to a deeper phase of due diligence to refine their takeover offers.
The Australian dollar was trading at $0.715 against the US dollar on Monday, as currency markets tracked broader risk sentiment across the Asia-Pacific region.
