The Australian sharemarket has clawed back some of its losses from Friday, with gains from the gold miners and Beach Energy supporting a strong performance.

The S&P/ASX 200 Index advanced 26.6 points, or 0.4 per cent, to 7243.9.

Beach Energy soared 9.4 per cent to $1.63 after reporting a strong bump in profit for the first half.

Gold miners were also strong. Regis Resources was the best, up 8.2 per cent to $1.99 while Evolution Mining advanced 7.9 per cent to $3.96.

Crown Resorts firmed 2 per cent to $12.64 after the board recommended an $8.9 billion takeover offer to shareholders.

Novonix was the worst performer on the local bourse, falling 10.8 per cent to $5.81 and Imugene tumbled 9.5 per cent to 28.5¢.

Liontown Resources fell 7.9 per cent to $1.40 and Pilbara Minerals declined 5.6 per cent to $3.04.