The local share market has finished in the green and not far from record levels after being down much of the day, while the company that owns realestate.com.au considered a multibillion-dollar merger and acquisition deal.
After dropping 68 points, or 0.8 per cent, in the first 15 minutes of trading, the benchmark S&P/ASX200 index ground higher for most of the day, moving into positive territory around 2pm.
It finished Monday near the highs of the day, up 18 points, or 0.22 per cent, at 8,109.9 - less than five points away from its all-time closing high of 8,114.7, set on August 1.
The broader All Ordinaries gained 14.1 points, or 0.17 per cent, to 8,330.8.
Capital.com analyst Kyle Rodda wrote that the ASX200 had found a late burst of energy to close in positive territory and challenge a short-term level of technical resistance at 8,100.
The rally gains even bucked a broader regional trend which saw equities suffer after weak Chinese economic data and ahead of a public holiday in the US, he added.
Four of the ASX's 11 sectors finished lower, six finished higher and consumer discretionary shares were collectively flat.
In telecommunications, REA Group, which owns the News Corp-backed website, realestate.com.au, dropped 5.3 per cent to a two-week low of $207.44 after it confirmed it was considering making a cash and share offer for London Stock Exchange-listed Rightmove, a British property website with a market cap of 4.4 billion pounds ($A8.5 billion).
"The REA Board believes that there are clear similarities between REA and Rightmove in terms of their leading market positions in the core residential business, continued expansion and innovation of offerings across adjacent segments, leading audience share and brand awareness, as well as highly aligned cultural values," REA said.
REA said, however, that there was no certainty that it could make a takeover offer. Under British law it has until September 30 to do so or it must walk away from any transaction for at least six months.
The heavyweight mining sector dropped 1.1 per cent, with BHP down 1.1 per cent to $40.33, Rio Tinto falling 1.4 per cent to $109.94 and Fortescue retreating 0.5 per cent to $18.18.
Goldminers also slipped as the precious metal traded for under $US2,500 an ounce for the first time in a week.
Northern Star lost 1.1 per cent, Evolution fell 3.1 per cent and mid-tier miner Red5 subtracted 7.4 per cent.
All of the big four banks finished higher, with ANZ rising 0.9 per cent to $30.66, Westpac advancing 1.2 per cent to $31.60, CBA growing 1.6 per cent to $141.77 and NAB climbing 1.3 per cent to $38.65.
In health care, Imugene rose 9.7 per cent to 6.8c after reporting that of 10 lymphoma patients dosed with its experimental CAR T cancer treatments, three had seen all cancer disappear from their system.
Shares in Star Entertainment Group were temporarily suspended from trade after the beleaguered casio company failed to file its financial statements by the end of August.
In currency, the Australian dollar was buying 67.75 US cents, down from 68.02 US cents at Friday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Monday up 18 points, or 0.22 per cent, at 8,109.9
* The All Ordinaries gained 14.1 points, or 0.17 per cent, at 8,330.8
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 67.75 US cents, from 68.02 US cents at Friday's ASX close
* 99.10 Japanese yen, from 98.66 Japanese yen
* 61.25 euro cents, from 61.41 euro cents
* 51.57 British pence, from 51.64 pence
* 108.75 NZ cents, from 108.77 NZ cents
