Australian shares rise

Australian shares rose on Monday, which much of the gains supplied by financials stocks sought for attractive dividend yields.

The S&P/ASX 200 index ended up 0.5 per cent or 31.17 points to 5,805.20.

The desire for high dividend yields – which are a feature of Australian banking stocks – was a driving factor in financial sector buying on Monday, said Michael McCarthy, chief market strategist at CMC Markets.

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