The S&P/ASX 200 fell 0.3% to around 8,741 on Monday, extending losses from the previous session, as weakness in energy stocks offset strong gains in miners and gold producers. Oil-linked shares fell after crude prices declined on Friday amid concerns over a looming supply glut, dragging on index performance in thin, holiday-shortened trade. Woodside Energy Group and Santos dropped 0.4% and 1.5% respectively. Subdued financials also limited broader gains, with Commonwealth Bank of Australia (-0.2%), Westpac Banking Corporation (-0.6%), and National Australia Bank (-0.4%) posting losses. On the other hand, mining stocks climbed to record highs as copper prices surged and iron ore strengthened, while gold stocks rallied in step with bullion’s advance to fresh highs. BHP added 0.3%, Northern Star Resources edged up 0.2%, and Evolution Mining gained 1.9%.
