The Australian sharemarket closed virtually unchanged on Monday, as investor sentiment remained cautious despite United States President Donald Trump's decision to postpone a sweeping 50% tariff on European Union imports.
The S&P/ASX 200 Index added just 0.1 points to close at 8,361, swinging between modest gains and losses throughout the session in a tight trading range.
Six of the 11 major sectors finished in the green. Technology stocks led the gains, while utilities dragged on performance.
Logistics software firm WiseTech Global jumped 4.7% after the company announced an A$3.25 billion deal to acquire U.S.-based e2open, a Texas-based supply chain management software provider.
Other tech names such as TechnologyOne and Block added 0.3% and 0.7%, respectively.
Uranium stocks saw a sharp rally for a second consecutive session after President Trump signed an executive order aimed at revitalising the U.S. nuclear energy industry. The move spurred fresh buying interest in Australian uranium producers.
Boss Energy soared 7.3%, Deep Yellow jumped 13.7%, and Paladin Energy climbed 8.8%, significantly outperforming the broader market.
Meanwhile, Utilities led the declines, with Origin Energy falling 4.9%. The energy giant disappointed investors after warning that earnings from its stakes in Australia Pacific LNG and UK-based Octopus Energy would be lower than previously forecast.
Other utilities followed suit, with Genesis Energy easing 1.4% and Mercury NZ down 0.7%.
Agribusiness Elders tumbled 6.7%, despite reporting a more than twofold increase in half-year profit compared to the prior year.
In the resources space, Genesis Minerals rose 2.1% after confirming it will acquire the Laverton Gold Project in Western Australia from Focus Minerals in a $250 million transaction.
Focus Minerals also skyrocketed 82.6% on the news.
Meanwhile, Accent Group shed 1.6% following the announcement that long-serving chairman David Gordon will retire after 18 years with the footwear retailer.
On the bond markets, yields remained mostly unchanged. The 10-year Australian government bond was steady at 4.397%, while the 2-year yield hovered around 3.389%.
