Rallies in AGL Energy and AMP helped offset losses in miners and push the local sharemarket into the black.

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Lets go with an old traders adage "never short a dull market", and that seems to be the question on most traders minds at the moment is this sideways movement now in its 54th day within a 2 per cent range.

In a thinly reference to the new US president, Anglo-Australian miner Rio Tinto has warned of rising geo-political risk while also stating it expects China to continue to provide economic stimulus for much of the year ahead.

Oil advanced after government data showed that US gasoline supplies unexpectedly fell.

​BHP Billiton has begun halting operations at its Escondida copper mine in northern Chile ahead of a planned strike.

​ Iron ore rose for a second session with expectations of strong demand in the world's top steel consumer buoying the market.