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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.

Important:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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