Australia: Shares end higher on gold, energy boost

[SYDNEY] Australian shares ended higher on Monday, aided by gains in heavyweight gold stocks on the strength of strong bullion prices, while Viva Energy and Ampol boosted the energy index after the government decided to massively fund their refineries.

The S&P/ASX 200 index settled 0.1 per cent higher at 7,023.6.

Gold stocks emerged as the winners of the session with a 4.3 per cent climb, with bullion prices scaling their highest level in more than three months as worries over surging Covid-19 cases in some Asian countries boosted its demand.

Sector-heavyweight Newcrest Mining gained 2.9 per cent to A$28.4 (S$29.40), its highest level in nearly a month Australian energy stocks jumped 1 per cent to deliver their third session of gains, despite a dip in global oil prices.

Shares of Ampol Ltd and Viva Energy surged and led gains on the sub-index, after the government decided to pay its last two oil refineries up to US$1.8 billion to stay open.

New Zealand's benchmark S&P/NZX 50 index snapped an eight-day losing streak to end 0.3 per cent higher at 12,410.47.

REUTERS