Thanks afternoon crew. End-of-day summary: Australian shares...

Thanks afternoon crew.

End-of-day summary:

Australian shares recouped more of last week's losses as commodity gains helped the local market rise for a second session.

The ASX 200 rallied 35 points or 0.45% following a strong rebound in iron ore yesterday and gains for lithium, gold and most industrial metals. Today's rally extended the index's gain for the week to 51 points. Investors' willingness to buy any dip has ensured the index has not logged back-to-back weekly losses since October.

Miners, utilities and consumer stocks led today's advance, offsetting down-pressure from REITs, healthcare providers and telcos.

The market had to look elsewhere for leads following a flat session in the US. The S&P 500 dipped 0.03% as investors held fire ahead of inflation data on Wednesday and the start of a new quarterly reporting season on Friday.