The local share market has gained ground despite double-digit losses for two ASX50 companies whose chief executives are under scrutiny.
The benchmark S&P/ASX200 index on Monday finished up 61.2 points, or 0.74 per cent, to 8,344.4, while the broader All Ordinaries gained 52.9 points, or 0.62 per cent, to 8,604.1.
Ten of the ASX's 11 sectors finished higher, all except technology, which dropped 3.0 per cent in its worst fall in 11 weeks thanks to a big loss by its largest component.
Wisetech Global plunged 14.6 per cent to a two-month low of $108.52 after the logistics platform's board said it was seeking further information and taking external advice following media reports on the conduct of chief executive and executive director, Richard White.
The board "is conscious of the potential impacts on the company and will carefully evaluate all relevant factors in its assessment," Wisetech said in its statement.
Mineral Resources fell 13.8 per cent to a four-week low of $39.55 after the Perth-based diversified mining company's board said it had engaged external legal counsel to investigate tax issues involving managing director Chris Ellison following recent media reports.
The Mineral Resources statement said Mr Ellison had self-reported to the Australian Taxation Office, repaid amounts owed and disclosed the matter to the board.
"While this does not diminish what happened, Mr Ellison profoundly regrets his errors of judgment," the statement said, adding that the board had full confidence in Mr Ellison and his team.
Elsewhere in the mining sector, BHP rose 1.4 per cent to $42.64, Fortescue added 1.5 per cent to $19.84 and Rio Tinto grew 1.9 per cent to $119.81.
Goldminers were higher as the precious metal hit another all-time high, at $US2,732 an ounce.
Northern Star rose 1.9 per cent, Newmont advanced 2.7 per cent and Genesis Minerals climbed 7.4 per cent.
Most of the big four banks were also in the green, with CBA up 1.1 per cent to $144.45, NAB growing 0.6 per cent to $39.42 and Westpac advancing 0.3 per cent to $32.51.
ANZ was the outlier, down 0.3 per cent at $31.51.
In the consumer discretionary sector, Nick Scali dropped 4.1 per cent to a three-month low of $14.40 as the furniture retailer's executives told its annual general meeting materially higher unexpected freight rates were impacting its gross profit margin.
On the flipside, Amotiv rose 10.2 per cent to a four-month high of $11.01 as the automotive parts company formerly known as GUD Holdings announced at its annual general meeting that it would buy back up to five per cent of its outstanding shares.
The Australian dollar was buying 67.01 US cents, from 67.08 US cents at Friday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Monday up 61.2 points, or 0.74 per cent, at 8,344.4
* The All Ordinaries gained 52.9 points, or 0.62 per cent, at 8,604.1.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 67.01 US cents, from 67.08 US cents at Monday's ASX close
* 100.05 Japanese yen, from 100.53 yen
* 61.69 euro cents, from 61.89 euro cents
* 51.37 British pence, from 51.39 pence
* 110.35 NZ cents, from 110.63 NZ cents.
