Australian shares closed Monday flat with a slight positive tilt, as a soft US jobs report raised bets of interest rate cuts.

The S&P/ASX 200 Index was little changed to close at 8,663.70.

US payrolls by the Bureau of Labor Statistics showed that the market is weakening as job growth over the last three months averaged 35,000, the weakest pace since the pandemic, Bloomberg reported.

Concerns over a deeper slowdown in consumer and business spending led investors to raise the chance of a September rate cut to nearly 90%, from about 40% the day before, the report added.

On the domestic front, the Melbourne Institute said its monthly inflation gauge recorded an increase in monthly inflation during June, primarily influenced by transport-related price rises.

Australia's housing market continued to gain in the second half of the year, despite the Reserve Bank of Australia's decision to keep interest rates on hold in July, according to a report by Westpac.

In company news, Beach Energy (ASX:BPT) reported Monday fiscal 2025 underlying earnings of AU$0.1976 per share, up from AU$0.1497 a year earlier. Shares of the company rose 4% at market close.

Domain Holdings Australia (ASX:DHG) said a majority of its shareholders approved its proposed acquisition by CoStar Group via a scheme of arrangement.

Lastly, Endeavour Group (ASX:EDV) said Executive Chairman Ari Mervis has resigned, effective immediately. Shares of the company rose 4% at market close.