Aussie shares in positive territory despite falls in commodity prices

The Aussie sharemarket enjoyed a positive start to the new trading week, albeit a modest one.

“Gains in consumer staples, healthcare, property trusts and telcos were enough to overcome weakness in commodity linked stocks, energy, materials and gold plays,” said Chris Conway, Head of Research at Australian Stock Report.

According to Conway, Woolworths (WOW) was the big story on the day, adding close to 4% on talk that private equity is running the ruler over Big W.

The big banks all posted gains, with National Australia Bank (NAB) adding 0.9%, whilst Commonwealth Bank of Australia (CBA) put on 0.7%.

“The major miners didn't fare so well, nor did the oilers after commodities tanked on Friday night,” Conway said. BHP Billiton (BHP) shed 2%, whilst Santos (STO) tumbled 3.4%.

On the day, the ASX 200 put on 20 points (+0.4%) to settle at 5276.