Australian shares climbed 0.2 per cent to 7233.6 on Monday, thanks to a mid-session rally sparked by news that US President Joe Biden and Russian President Vladimir Putin have agreed to meet, easing some fears of an imminent invasion of Ukraine.

AGL jumped 10.6 per cent to $7.92 after rejecting a $7.50 a share bid from a consortium led by Brookfield along with Mike Cannon-Brookes’ Grok Ventures.

Chorus firmed 9.9 per cent to $6.86 on news that it will commence an on-market share buyback program to purchase up to $NZ150 million ($139 million) in shares.

On the reporting front, A2 Milk added 11.1 per cent to $5.89 after saying it expects to return to sales growth this year, while Endeavour Group rose 10.3 per cent to $7.18 after delivering a better-than-expected first half profit.

Tyro Payments dived 25.9 per cent to $1.61 after reporting that its overall losses deepened to $11.2 million on a normalised basis from $2.8 million in the corresponding period the year before.

Zip Co dropped 7.8 per cent to $2.37 on a surprise earnings update which pointed to larger-than-expected cash losses for the half.

Altium fell 5.9 per cent to $32.44 on news that its full-year underlying EBITDA margin will be at the low end of its 34 per cent to 36 per cent guidance range.