Strong gains across the Australian stock market, led by energy, financial and retail companies, helped push the market higher for an eighth consecutive trading day to an 11-month high.
The benchmark S&P/ASX 200 index finished up 0.53 per cent on Monday, despite a fairly muted performance on Wall Street on Friday.
All but one of the 12 local sectors closed in positive territory.
Investors were not shaken by the recent terrorist attack in Nice and the failed coup in Turkey and pushed the local market higher, Morgans senior private client adviser Bill Chatterton said.
"Interest rates are very low, and they're going to stay low so I think we're going to get further support on the market," he said.
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Mr Chatterton said the market was also expecting stability from the returned Coalition government.
Prime Minister Malcolm Turnbull, who returned to power with a small margin, announced his new ministry on Monday and Mr Chatterton said the PM will have to listen to both sides and move forward in a "consultative way".
"He'll make some changes, which we absolutely need, but they won't be too quick, too crazy and that may mean the conservatives have got a chance of getting in again next time," Mr Chatterton said.
The energy index closed 1.19 per cent higher, thanks to Woodside Petroleum, Oil Search and Santos, as oil prices extended gains following the failure of the attempted military coup in Turkey on the weekend.
Oil Search rose 27 cents to $7.25, Woodside gained 17 cents to $26.85 and Santos added eight cents to $4.85.
Investment bank Macquarie Group was the biggest riser among the financial sector, finishing 56 cents higher at $72.55.
Retail giants Woolworths and Wesfarmers also found support among investors, rising 42 cents to $21.95 and 23 cents to $41.13, respectively.
Bucking the broader market trend were mining heavyweights, with Rio Tinto down 41 cents to $50.14 and BHP Billiton losing 15 cents to $20.22.
KEY FACTS:
* The benchmark S&P/ASX 200 index was up 28.9 points, or 0.53 per cent, at 5,458.5 points.
* The broader All Ordinaries index was up 28.8 points, or 0.52 per cent, at 5,538.9 points.
* The September share price index futures contract was up 28 points at 5,417 points, with 26,361 contracts traded.
* National turnover was 3.3 billion securities traded, worth $3.8 billion.
