Australian shares edged up on Monday, following a positive lead from Wall Street. Financial stocks reversed losses from earlier in the session.
The S&P/ASX 200 index rose 0.3 per cent or 16.25 points to 5,998.00 by 0126 GMT. The benchmark fell 0.06 per cent on Friday, reports Reuters.
Technology stocks led the US S&P 500 and Nasdaq to record closing highs on Friday, with the S&P ending above 2,600 points for the first time.
Banks reversed losses earlier in the session and accounted for most of the gains on the benchmark, with the Australian financial index rising 0.2 per cent.
The ‘Big Four’ banks - Westpac Banking Corp, Commonwealth Bank of Australia, National Australia Bank Ltd and Australia and New Zealand Banking Group Ltd - gained between 0.1 and 0.3 per cent.