The share market has closed firmer for a fifth consecutive session as concerns about global economic growth appear to fade.
Global markets bounced back from heavy falls on Friday, which proved the main driver for local investors, City Index senior market analyst Kara Ordway said.
“At the moment, it’s all about global markets,” she said.
“We’re having to take our leads from the US equity markets just because they’ve been so volatile.”
The banks were a key area of strength, although most sectors posted gains.
Commonwealth Bank gained 72 cents to $77.26, ANZ added 52 cents to $32.45, Westpac lifted 47 cents to $33.57 and National Australia Bank was 29 cents higher at $33.44.
Among the miners, BHP Billiton added 44 cents to $33.84, Rio Tinto climbed 36 cents to $59.73 and Fortescue Metals was two cents higher at $3.46.
Shares in Ten Network and Fairfax Media were boosted by reports the broadcaster and publisher have held merger talks.
Ten added 1.5 cents to 22 cents and Fairfax gained 2.5 cents at 80.5 cents.
Mining services provider Ausdrill lost 10.5 cents, or 12 per cent, to 76.5 cents after it warned its annual earnings will slump by up to 13 per cent.
Telstra gained two cents to $5.40.
KEY FACTS
* At 1615 AEDT on Monday, the benchmark S&P/ASX200 index was up 47.7 points, or 0.9 per cent, at 5,319.4 points.
* The broader All Ordinaries index was up 47.2 points, or 0.9 per cent, at 5,307.3 points.
* The December share price index futures contract was up 69 points at 5,306 points, with 24,318 contracts traded.
* National turnover was 1.6 billion securities worth $3.76 billion.
