Adrian BlackUpdated September 7, 2026 — 10:35am,first published September 7, 2026 — 5:17amAustralian shares have had a shaky session as oil prices continued to weigh on confidence and select miners jumped after China announced fiscal stimulus.The S&P/ASX200 rose five points, or 0.06 per cent, to 9010.9 on Monday as the broader All Ordinaries gained 4.6 points, or 0.05 per cent, to 9200.6.The iron ore giants rose on Monday after China announced support for its financial sector.Energy stocks outperformed the bourse, up 1.7 per cent as oil prices hit seven-week highs after the US and Iran exchanged tit-for-tat strikes at the weekend.Major miners helped support the bourse with BHP, Rio Tinto and Fortescue lifting after China’s government flagged a $US54 billion ($75 billion) injection into state banks and insurers to shore up its financial sector.The announcement helped push iron ore futures above $US100 a tonne for the first time since July 2.Gold stocks capped the gains in raw materials as the precious metal eased to $US4393 ($6092) after a stronger-than-expected US jobs report increased the odds of a Federal Reserve interest rate hike.Interest rate markets have continued to narrow their bets on a Reserve Bank of Australia interest rate hike, now fully pricing a hike by November 3.The market was also now pricing a near 70 per cent probability of an RBA hike in September, Global X ETF strategy analyst Joseph Marassa said.“If energy and materials continue to diverge from rate-sensitive sectors, leaving the index trading broadly flat, capital gains from equities are likely to be limited,” he said.The heavyweight financials sector inched 0.2 per cent higher on the back of decent performances by NAB and CommBank, while ANZ, Macquarie, Suncorp and AMP lost ground.Technology stocks underperformed, diving 2.6 per cent in a broad-based sell-off.Consumer staples, discretionary retail, utilities, communications and healthcare stocks also fell.In company news, Southern Cross Media has appointed Ryan Stokes as non-executive chair, seven months after his father stepped down from the company.Kogan founder and boss Ruslan Kogan could make $50 million over the next five years if the company’s share price tops and holds above more than double its current value in a new pay deal.In other company news, Worley has won contracts for engineering, procurement construction services at two of BHP’s South Australian copper projects.The Australian dollar was buying US72.15¢, up from US72.04¢ on Friday at 5pm.In the US, Wall Street fell and Treasury yields rose after the US government reported that employers unexpectedly added 162,000 jobs last month. The S&P 500 fell 0.4 per cent, though it managed to eke out a modest gain for the week. The Dow Jones fell 0.5 per cent, and the Nasdaq composite gave back 0.3 per cent.AAP with AP, BloombergThe Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon.From our partners