Australian shares inch higher as healthcare and staples gain

Australian shares experienced a modest gain on Monday, driven by increased activity in healthcare and staples sectors, despite declines in miner stocks. The S&P/ASX 200 index rose 0.1% to 8,748.4, marking the largest weekly increase in over a week. Healthcare stocks surged by 1%, with CSL leading the gains, and consumer staples climbed by 0.4%, with Woolworths and Coles posting gains above 1%.

Energy stocks registered slight gains, backed by major players like Woodside Energy and Santos. Oil prices surged more than 2% on Monday, following new Houthi attacks on Saudi Arabian targets and Iranian strikes on Gulf shipping, which heightened supply worries after a major Saudi oil pipeline was shut down. Gold miners benefited from higher gold prices, with Northern Star Resources jumping about 1%.

However, the mining sector as a whole fell 0.5%, marking its fourth straight day of losses due to lower iron ore and copper prices. BHP and Rio Tinto both dropped by 0.7% and 0.1%, respectively. Technology stocks rose 0.9%, on track to gain the most since earlier in the month, mirroring Wall Street's strong finish on Friday. Financials saw modest growth, with the "Big Four" banks adding between 0.2% and 1%.

FleetPartners shares hit a record high after three firms made competing offers. Gold yields eased by 1.9 basis points to 4.986%, while 10-year yields settled at 5.352%, hovering near their highest since mid-2011. In New Zealand, the S&P/NZX 50 index climbed 0.6% to 13,658.14.