Australian shares started the week on the front foot after shrugging off volatility in the artificial intelligence space, as a rebound in local banks continues.
The S&P/ASX 200 rose 39 points on Monday, up 0.44%, to 8845.7, as the broader All Ordinaries improved by 35.3 points, or 0.39%, to 8975.7.
Energy stocks outperformed, the segment up more than 2% after Middle East supply disruptions launched Brent crude as high as $US110 a barrel over the weekend.
Banks rebound as AI jitters hit tech
Banks and other financial stocks continued their recovery from August's sell-off, offering something of a safe haven after artificial intelligence uncertainty sparked a sell-off in red-hot chip and technology stocks last week.
Miners recover
Mining stocks managed to end the session higher after dropping at the open, after iron ore futures inched above $US91 a tonne after China's economy grew more than expected in September.
Copper also advanced as US technology futures pointed to an incoming rebound, with BHP up 0.7% to $60.43 and Rio Tinto gaining 0.4% to $155.51.
Gold stocks were broadly lower as the metal's spot price hovered near $US4176 ($5999) an ounce, with high bond yields still weighing on the investor case for precious metals.
Aussie dollar firms
The Australian dollar is buying 69.73 US cents, up from 69.42 US cents on Friday at 5pm.
