The Australian share market has started the week in a positive mood, with strong gains for airlines and the major banks offsetting losses by the mining and energy sectors.
The All Ordinaries index closed up 35 points at 5,349 and the ASX 200 rose 37 points or 0.7 per cent to end the session at 5,373.
The big four banks all rallied despite the potential for major changes in the wake of the financial system inquiry. NAB rose 1.8 per cent, followed by 1 per cent for Westpac and 0.9 per cent for the Commonwealth and ANZ.
Some of the smaller banks did not fare as well, with the Bank of Queensland falling 1.8 per cent and Bendigo Adelaide Bank slipping nearly 0.2 per cent.
A rise of 2.4 per cent for Virgin Australia's stocks was modest by comparison.
On the contrary, BHP Billiton fell 1.1 per cent and gold miner Newcrest closed down 1.3 per cent.
Among energy stocks Santos dipped 1.2 per cent and Woodside lost 0.9 per cent, but Oil Search rose 2.2 per cent.
There was fresh evidence that the labour market was holding its own despite the signs of economic weakness elsewhere.
The number of ads rose 0.7 per cent in the month. Ads are now up nearly 9 per cent on a year ago.
The Australian dollar kept its losses and about 5:00pm (AEDT) was buying about 82.9 US cents, 67.4 euro cents, 53.3 British pence, 100.7 Japanese yen and 108.3 New Zealand cents.
West Texas crude oil was down $65.84 a barrel, Tapis crude oil in Singapore also slipped to $US70.61 a barrel and spot gold was trading around $US1,293 an ounce.
