The Australian sharemarket has extended last week's rally on Monday with the big banks leading the bullish charge.
The benchmark S&P/ASX 200 added 47.68 points, or 0.9 percent, to 5319.4. The broader All Ordinaries gained 47.23 points, or 0.9 percent, to 5307.3.
The Australian market was up after a recovery on the Wall Street on Friday where strong U.S. economic data boosted investment.
The bounce back on the Australian market was broad-based, with financials leading the way.
The Commonwealth Bank of Australia lifted 0.9 percent, the Australia and New Zealand (ANZ) Banking Group jumped 1.6 percent, Westpac Banking Corp rose 1.4 percent and National Australia Bank (NAB) pushed 0.9 percent higher.
With the iron ore price rising 0.6 percent higher on Friday to 80.52 U.S. dollars per tonne, resource stocks remained strong.
BHP Billiton jumped 1.3 percent, rival Rio Tinto rose 0.6 percent and Fortescue also added 0.6 percent.