By Oliver Gray
Investing.com - The ASX 200 finished Monday’s session in the green, adding 25.50 points or 0.34% to 7,441.00 and closing at fresh 6-week highs as market participants prove optimistic on mining and energy stocks amid higher commodity prices and looming concerns of persistent inflation.
In coronavirus data, Victoria tallied 1461 cases today, as Premier Daniel Andrews announced that a raft of restrictions would be lifted for the fully vaccinated this Friday, including the ban on travel between Melbourne and regional Victoria. Meantime, New South Wales recorded 294 cases as students made their return to schools across the state.
Among stocks, Mineral Resources Ltd (ASX:MIN) was up 8.96%, Ramelius Resources Ltd (ASX:RMS) 4.85%, while heavyweight miners also closed higher amid stronger Iron ore prices. Rio Tinto Ltd (ASX:RIO) added 1.48%, BHP Billiton Ltd (ASX:BHP) was up 0.74% and Fortescue Metals Group Ltd (ASX:FMG) gained 1.4%. Energy stocks were also higher as Crude Oil prices firmed over the weekend, with Santos Ltd (ASX:STO) up 3.55%, Beach Energy Ltd (ASX:BPT) 5.07%, Woodside Petroleum Ltd (ASX:WPL) adding 3.7% and Oil Search Ltd (ASX:OSH) gaining 3.46%. Meantime, Telstra Corporation Ltd. (ASX:TLS) added 2.68% after finalizing a deal with the Australian government to buy and operate the largest telecommunications company in the Pacific in an effort to counter China's influence in the region.
On the bond markets, Australia 10-Year yields lifted to 1.804% while United States 10-Year rates were at 1.648%.
In New Zealand, the NZX 50 was closed for a public holiday.