News: XGD Australia shares end higher on gold, energy boost

• Gold miners gain more than 4%
• Lender CBA closes at record high
• Energy stocks jump despite drop in global oil prices

(Updates to close)

Australian shares ended higher on Monday, aided by gains in heavyweight gold stocks on the strength of strong bullion prices, while Viva Energy and Ampol boosted the energy index after the government decided to massively fund their refineries.

The S&P/ASX 200 index (xjo) settled 0.1% higher at 7,023.6.

Gold stocks .AXGD emerged as the winners of the session with a 4.3% climb, with bullion prices scaling their highest level in more than three months as worries over surging COVID-19 cases in some Asian countries boosted its demand.

Sector-heavyweight Newcrest Mining (NCM) gained 2.9% to A$28.4, its highest level in nearly a month

Australian energy stocks .AXEJ jumped 1% to deliver their third session of gains, despite a dip in global oil prices.

Shares of Ampol Ltd (ALD) and Viva Energy (VEA) surged and led gains on the sub-index, after the government decided to pay its last two oil refineries up to $1.8 billion to stay open.

Financial stocks .AXFJ fell 0.4%, but Commonwealth Bank of Australia (CBA) hit a record high after rising nearly 2% above A$98.

Australia's tech stocks .AXIJ ended 1.2% higher. Xero (XRO) led gains in the index, rising 6%, followed by Codan (CDA) that gained 2.2%.

Miners .AXMM were up 0.9% with a 1.4% gain in Fortescue Metals (FMG) .

New Zealand's benchmark S&P/NZX 50 index (nz50) snapped an eight-day losing streak to end 0.3% higher at 12,410.47