Shares Rose On Monday, Energy Stocks Offset Gains In Banks

The Australian Stock Market Began The Week Backfoot With Losses In Energy And Mining Stocks Being Offset By Gains In Other Sectors

As Global Markets Look To Recover From Their Worst Fall In Two Years.

Futures Showed The Asx Falling 0.3 Per Cent Or 19 Points At The Open.Slight Gain In Several Sectors Initially Declined.

The Benchmark S&P/Asx 200 Index Was On Track To Extend Its Losing Streak For Seven Consecutive Days

By Afternoon It Weakened By 0.7 Percent To Reach 6427 Points.

Energy Sector Giants - Woodside And Santos - Fell More Than 4.5 Percent As Oil Prices Fell While The Energy Sector Declined By 4.8 Percent.

Mining Giants Bhp Rio Tinto And Fortescue Have All Lost Over 4 Per Cent In The Past One Week Due To The Collapse In Iron Ore Prices.

Fortescue'S Performance Was The Worst Falling 6.7 Percent To $17.36 Per Share Before Noon.

Meanwhile The Commonwealth Bank Led The Charge In The Banking Sector Rising More Than Two Per Cent.