Australia's share market ended Monday higher after mining and energy stocks helped counterbalance broader weakness. The S&P/ASX200 recovered from an early dip to gain 8.9 points, or 0.1%, to 9,029.7, AAP reported, while the broader All Ordinaries rose 18.7 points, or 0.2%, to 9,163.4.

The index had traded as low as 8,968.5 during the session, down 0.58% from Friday's close, before buyers returned. Market Index's evening wrap described investors rotating out of defensives and back into beaten-down miners, with gold, critical minerals and base metals stocks rallying.

Banks drag after ANZ results

Financials were the main drag. ANZ fell after releasing its full-year results, pulling the banking sector lower, while materials stocks gained. The split underlined how much the index still depends on its big banks: when financials fall, miners must do heavy lifting for the market to finish ahead at all.

The Australian dollar was buying 68.88 US cents at the close, up slightly from 68.87 US cents on Friday, according to AAP. Gold also supported the miners, with spot gold rising about 1.3% to around US$4,127.50 an ounce on Monday as softer oil prices eased inflation worries.

A cautious start to the week

The gain was small, and the session was choppy, but it stopped the slide after the ASX 200 fell 0.5% on Friday. With US inflation data due on Tuesday and more earnings ahead, traders face a week in which the same forces that shook markets last week, the AI trade, the Federal Reserve's next move and Middle East tensions, are still in play.