The local share market has finished slightly higher, taking its winning streak to a lucky seven sessions as earnings season enters its fourth week.
The benchmark S&P/ASX200 index began Monday slightly in the red, but finished up 9.3 points to 7,980.4, a gain of 0.12 per cent, while the broader All Ordinaries climbed 4.9 points to 8,194.8, a 0.06 per cent rise.
Even if Monday's gains were meagre, it's the longest winning streak for the bourse since eight straight sessions of gains from January 19-31
"Traders and investors are taking a little break today as stock futures in the US and Europe show no clear direction," Zaye Capital Markets chief investment officer Naeem Aslam said, noting last week's tremendous market gains.
The rest of the week will feature releases of important economic data and Federal Reserve meeting minutes that could drive markets, Mr Aslam said.
Seven of the ASX's 11 sectors finished lower on Monday and four ended higher.
Utilities was the biggest mover, gaining 1.7 per cent as Origin Energy rose 2.5 per cent.
The consumer staples sector dropped 0.8 per cent as a2 Milk plunged 18.7 per cent to a four-month low of $5.70 after releasing its 2023/24 results.
The Kiwi dairy company grew its full-year profit by 7.7 per cent to $NZ167.6 million ($A152.3 million) but downgraded guidance and said its supplier Synlait was having to air-ship product into China.
Elsewhere, Reece dropped 3.9 per cent to $26.04 as the plumbing product distributor announced its 2023/24 sales were up three per cent to $9.1 billion.
"Reece delivered a solid result in a challenging environment in FY24, supported by the teams’ ongoing disciplined execution," chief executive Peter Wilson said.
Ampol sunk 4.8 per cent to a one-year loss of $30.54 after the service chain reported a net profit of $235.2 million for the six months to June 30, up from $79.1 million a year earlier.
"Ampol has delivered a resilient performance through a determined focus on the things we can control," managing director Matt Halliday said.
In tech, Audinate soared 19.9 per cent to a two-week high of $11.33 and Nuix rocketed 25.5 per cent to a three-year high of $4.38 after both companies reported earnings.
The Big Four banks all finished higher, with ANZ up 0.5 per cent to $29.74, NAB adding 1.2 per cent to $36.91, CBA climbing 0.8 per cent to $139.25 and Westpac advancing 2.5 per cent to $30.40 after Australia's oldest corporation reported third-quarter results.
Westpac said its unaudited net profit was up six per cent to $1.8 billion, which chief executive Peter King called "another solid quarter."
In the heavyweight mining sector, Fortescue dropped 1.9 per cent to $17.01, Rio Tinto fell 0.3 per cent to $109.82 and BHP dipped 0.7 per cent to $39.73.
Goldminers did well after the precious metal surged to an all-time high of $US2,509 an ounce late on Friday.
Evolution rose 2.7 per cent, Newmont added 1.1 per cent and mid-tier miner Resolute climbed 8.7 per cent.
The Australian dollar was at a one-month high against its US counterpart, buying 66.81 US cents, from 66.35 US cents at Friday's ASX close.
Looking forward, in addition to domestic earnings reports from the likes of IAG, Domino's Pizza Enterprises and Whitehaven Coal, traders this week will be watching Fed chairman Jerome Powell speak at the Jackson Hole symposium in Wyoming.
Also in the US, on Wednesday Vice President Kamala Harris will accept the Democratic nomination for president at the Democratic National Convention in Chicago.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Monday up 9.3 points, or 0.12 per cent, at 7,980.4
* The All Ordinaries gained 4.9 points, or 0.06 per cent, to 8,194.8.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 66.81 US cents, from 66.35 US cents at Friday's ASX close
* 97.45 Japanese yen, from 98.86 Japanese yen
* 60.50 euro cents, from 60.41 euro cents
* 51.58 British pence, from 51.53 pence
* 109.91 NZ cents, from 110.29 NZ cents
