The S&P/ASX 200 climbed 0.3 per cent, or 19.1 points, to 6964.2 in the opening minutes of trade, supported by gains across the materials and technology sectors which offset losses by the banks.
The major miners were mostly higher despite iron ore prices declining on Friday; BHP added 1.4 per cent to $39.22, Rio Tinto rose 1.2 per cent to $99.01 while Fortescue eased 0.6 per cent to $18.23.
Ioneer firmed 4.5 per cent to 58.5¢ after signing a binding offtake agreement with the Prime Planet Energy&Solutions joint venture between Toyota and Panasonic.
Deterra Royalties rose 2.9 per cent to $4.44 after reporting its quarterly royalty receipts.
United Malt Group plunged 10.6 per cent to $3.28 after warning that earnings for FY22 are expected to be below previous guidance.
Aussie Broadband tumbled 13.2 per cent to $3.15 despite announcing it expects EBITDA for FY22 to be at the top end of the existing guidance range.
The major banks were all lower; ANZ fell 2.1 per cent to $22.42, Commonweath Bank dropped 1.6 per cent to $99.18, NAB declined 1.5 per cent to $30.13 and Westpac tumbled 1.2 per cent to $21.24.