The Australian sharemarket closed largely unchanged on Monday, as initial optimism faded ahead of a joint United States-China trade statement expected to be released later on Monday (Tuesday AEST).
The S&P/ASX 200 index finished just 2.30 points higher to finish at 8,233.5, with six of 11 sectors closing in the red.
Energy stocks were among the strongest performers, with Woodside advancing 2% and Santos rallying 3.3%.
Mining giant BHP rose 2%, while Rio Tinto and Fortescue Metals Group traded 2.3% and 1.3% higher, respectively, in line with stronger iron ore prices.
However, the early momentum was curtailed in the afternoon as profit-taking emerged, particularly in the healthcare and utilities sectors.
Neuren Pharmaceuticals shed 9.7% and Clarity Pharmaceuticals lost 8.6%.
In corporate news, Goodman Group climbed 1.6% following a UBS upgrade to “buy”, with analysts expressing confidence in the real estate company’s ability to fund its expanding data centre pipeline.
FleetPartners jumped 2% after the vehicle leasing group released its half-year FY25 results, with CEO Damien Berrell announcing the completion of FleetPartners’ “Accelerated” project, expected to generate at least A$6 million in annualised cost savings.
Dyno Nobel, formerly known as Incitec Pivot, rose 2% after it confirmed reports that it would sell the distribution arm of its fertiliser business to Ridley Corporation.
On the bond markets, 10-year and 2-year rates jumped 1.7% and 2.7% to 4.367% and 2.73%, respectively.
