Local shares continued to build on last week’s gains after a surge in commodity prices.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 5142 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5204 points
  • AUD/USD at US 74.14 cents
  • Iron Ore at US$53.75 a tonne, according to the Metal Bulletin
  • Gold at US$1,259.38 an ounce
  • Brent oil at US$39.46 a barrel

After they slipped to multi-year lows recently, iron ore and oil prices have both continued their surprise rebounds, gaining more than 4% each during the latest session.

The gains were reflected across the resources sector, particularly in shares of BHP Billiton Limited (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG). The pair soared 5% and 23.7%, while South32 Ltd (ASX: S32) also gained 6.3%.

BC Iron Limited (ASX: BCI) gained an incredible 52%, with Sundance Energy Australia Ltd (ASX: SEA) and Senex Energy Australia Ltd (ASX: SXY) lifting 53.6% and 19.5%, respectively.

All four of Australia’s major banks rose by at least 1.3%, with National Australia Bank Ltd.’s (ASX: NAB) 2.3% gain leading the way.

Beadell Resources Ltd (ASX: BDR) was the worst performer for the day. It’s shares fell 9.1% to 25 cents.

Here are Monday’s top stories:

  1. Why the BHP Billiton Limited share price has surged 32%
  2. Is this the biggest risk to the big four banks?
  3. Why the Sundance Energy Australia Ltd share price soared today
  4. ASIC targets Australia and New Zealand Banking Group for market manipulation
  5. The iron ore price is flying, taking company share prices with it
  6. 3 market-thumping shares for your investment portfolio
  7. What housing crash?

BRAND NEW! Our Top Dividend Stock for 2016

Our resident dividend expert names his Top Dividend Share for 2016. Not only are the shares dirt cheap, the company is trading on a juicy, fully franked dividend yield. Simply click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required!

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.