By Oliver Gray
Investing.com - The S&P/ASX 200 added 26.1 points or 0.4% to 7,171.7 after the first hour of Monday’s trade, extending last week’s gain of 1% in its first session since the federal election was decided over the weekend as Anthony Albanese was sworn in as Australia's 31st prime minister.
ASX 200 Futures were pointing 0.6% higher.
Among stocks, Materials outperformed, up 1.4% collectively amid rising Iron ore prices as Rio Tinto Ltd (ASX: RIO ) gained 0.5%, BHP Billiton Ltd (ASX: BHP ) lifted 1.2%, Fortescue Metals Group Ltd (ASX: FMG ) gained 3.3%, Champion Iron Ltd (ASX: CIA ) added 1.1%, Pilbara Minerals Ltd (ASX: PLS ) climbed 0.7% and Core Lithium Ltd (ASX: CXO ) added 1.9%.
In New Zealand, the NZX 50 added 0.9% to 11,367.6.
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