The Australian share market has clawed back some of its recent losses, ending the session 1 per cent higher as investors flocked to defensive stocks after a mixed bag of company earnings results.
Renewed fears about slowing global growth have wiped $47 billion off the value of the Australian share market, which suffered its biggest fall in more than four months.
The Australian share market has opened more than 1.5 per cent lower following sharp overnight falls in New York as investors fret over global economic growth prospects.
The Australian share market finished the trading day slightly lower, as falls in financial and retail stocks were partly offset by gains by the big miners.
The Australian share market has closed around 2 per cent higher in the wake of a strong rise in oil prices and the hope that weak US economic data will slow the pace of interest rate hikes in the US.
Heightened investor fears about global growth have caused the sharpest daily fall on the Australian share market in four months, with energy companies and banks the hardest hit.
The Australian share market has shot out off the blocks in early trade on Monday, boosted by gains on Wall Street and a continuing recovery in oil prices.
The Australian share market has closed nearly 2 per cent higher, posting gains for a third straight session, as a strong rise in oil prices lifted markets worldwide.
Australian stocks have opened up more than a half per cent after a bounce in oil prices and hints by the head of the European Bank of more stimulus measures.