Australian shares have gained thanks to continued positive momentum on Wall Street.
Australian Stock Report analyst Benny Sada said the local market built on early gains before declining slightly.
“Our market has opened stronger on the back of Wall Street gains on Friday night and the gains have been widespread today,” Mr Sada said.
“Health care stocks and the telcos have led the charge but all the other sectors have enjoyed gains today.”
He said there had been some profit taking towards the end of the day.
On the US market on Friday, the S&P 500 index closed above 1,800 points for the first time, and the Dow Jones Industrial Average rose to another record of 16,064.77 points.
Locally, Telstra shares rose two cents to $5.08 while Sonic Healthcare was a standout in the health sector, gaining eight cents, or 1.7 per cent, to $4.88.
In the banking sector, National Australia Bank added 18 cents to $34.10, ANZ gained 11 cents to $31.79 and Westpac was two cents higher at $32.52.
Commonwealth Bank dropped 22 cents to $76.27.
Among resources companies, mining giant BHP Billiton edged six cents higher to $37.89, Rio Tinto added 12 cents to $65.40 and Fortescue Metals gained four cents to $5.82.
Takeover target Warrnambool Cheese and Butter added 18 cents to $9.23 after Canadian dairy giant Saputo said it would lift its takeover offer to $9.20 per Warrnambool share, if it attains a stake of more than 50 per cent.
Rival bidder Bega Cheese dropped four cents to $4.67.
KEY FACTS
* At the close on Monday, the benchmark S&P/ASX200 index was up 15.8 points, or 0.3 per cent, at 5,346.1.
* The broader All Ordinaries index was up 16.9 points, or 0.32 per cent, at 5,352.8.
* The December share price index futures contract was 23 points higher at 5,372, with 20,141 contracts traded.
* National turnover was 1.5 billion securities worth $3.4 billion.
