The Australian sharemarket finished higher on Monday after United States President Donald Trump suspended plans for further strikes against Iran, easing broader market concerns but weighing on energy stocks as oil prices retreated.
The S&P/ASX 200 Index rose 42.5 points, or 0.47%, to close at 9,019.3, with nine of the 11 sectors ending in positive territory.
The Utilities sector led the market higher, with Origin Energy climbing 2.5% as the stock continued to recover following last month's data breach.
AGL Energy gained 1.9%, while Genesis Energy advanced 5.9%.
Industrial stocks also posted solid gains. Auckland International Airport rose 1.8%, Reece added 1.7%, and Computershare climbed 2.3%.
The Energy sector was the weakest performer after oil prices declined on hopes of easing tensions in the Middle East.
Woodside Energy fell 1.4%, Santos lost 1.9%, and Viva Energy declined 2.1%.
Among individual stocks, Steadfast Group gained 2.9% after confirming that the consortium comprising Amwins Group, Dragoneer Investment Group and KKR remains committed to completing due diligence and securing the necessary internal approvals to finalise a transaction.
FleetPartners surged 17.3% after receiving a takeover proposal from Pacific Equity Partners-owned rival SG Fleet, valuing the company at approximately A$769 million.
On the bond markets, 10-year and two-year yields rose 0.5% and 1.1%, respectively.
