By Oliver Gray
Investing.com - The S&P/ASX 200 added 19.10 points or 0.26% to 7,381.10 during Monday’s session, extending gains of 0.65% in the previous week and finishing the session at 3-week highs as higher commodity prices boosted mining and energy stocks.
In coronavirus news, Victoria tallied 1903 new cases today, while New South Wales added 265 as the state continues to ease restrictions after hitting its vaccination targets earlier than expected.
Among stocks, energy companies were lifted as crude oil traded at 7-year highs, with Santos Ltd (ASX:STO) up 1.02%, Oil Search Ltd (ASX:OSH) up 0.66% and Woodside Petroleum Ltd (ASX:WPL) up 0.25%. However, technology fell on rising bond yields with Afterpay Touch Group Ltd (ASX:APT) down 1.59%, Wisetech Global Ltd (ASX:WTC) falling 2.89% and Xero Ltd (ASX:XRO) down 2.37%. Miners closed higher, with Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) adding 1.86%, 0.85% and 0.96% respectively.
On the bond markets, Australia 10-Year yields were near fresh 5-month highs of 1.745% while United States 10-Year rates were also higher at 1.605%.
In New Zealand, the NZX 50 lost 13.68 points or 0.11% to 12998.51.