Australian shares have had a shaky start to the week, with a slump in miners counterbalancing rallies in banks, utilities and health care stocks. The S&P/ASX200 inched 14.7 points higher on Monday, up 0.17 per cent, to 8679.7, as the broader All Ordinaries gained 5.1 points, or 0.06 per cent, to 8850.7. The financials sector did some heavy lifting as dip-buyers fuelled a rebound in bank stocks, helped by a 2.3 per cent push from Macquarie to $244.98 after RBC Capital targeted a $300 share price for the investment giant. Defensive sectors, such as utilities, consumer staples and healthcare stocks outperformed as the market braced for a likely Reserve Bank cash rate hike on Tuesday. “The RBA is expected to hike to 4.
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