By Cameron Micallef
The benchmark ASX 200 index gained 28.10 points or 0.33 per cent to finish Monday鈥檚 trading at 8,542.30.
The broader All Ordinaries also closed higher up 29.40 points or 0.34 per cent to 8,773.00.
The Australian dollar also reached its highest point against the US dollar since November 2024, although this was largely due to the US dollar selling off.
Australia鈥檚 dollar is now buying 65.36 US cents.
On an overall strong day ten of the 11 sectors finished in the green, with just the materials sector being a drag on the market.
Monday鈥檚 gains helped the ASX gain more than 10 per cent for the financial year, for the best 12-months since 2021.
The gains were led by the healthcare sector with CSL jumping 2.19 per cent to $239.48, while Sigma Healthcare rose 1.36 per cent to $2.99 and Pro Medicus finished in the green up 1.60 per cent to $285.08.
The consumer discretionary stocks also helped drag the index higher with Wesfarmers up 0.74 per cent to $84.75, while JB Hi FI gained 1.61 per cent to $110.35 and The Lottery Corporation gained 0.76 per cent to $5.27.
Despite a lift in iron ore prices on Friday, the big miners struggled again on Monday.
BHP slumped 2.08 per cent to $36.75, while Rio Tinto slumped 1.69 per cent to $107.13 and Fortescue dropped 1.16 per cent to $15.28.
IG market analyst Tony Sycamore said today鈥檚 end of financial year trading did not finish with the usual bang of previous years.
鈥淚t certainly wasn鈥檛 a traditional whiz bang fireworks to end the financial year, 鈥 Mr Sycamore told Newswire.
鈥淕iven the fact the market was sitting near record highs the market didn鈥檛 need to get an extra little shove into the sign-off鈥.
Mr Sycamore said usually the end of the financial year comes with a lot of 鈥渨indow dressing鈥 to close out the year.
鈥淚t has had a pretty impressive recovery from its April lows and I think for that reason there was a willingness from participants to sit back and let it do its thing.鈥
In company news embattled casino Star Entertainment Group told the market on Monday its joint venture partnership in the mammoth Queen鈥檚 Wharf precinct had walked away from an agreement struck in March to take over Star鈥檚 stake in the complex. Shares slumped 6.9 per cent to $0.14 in the back of this announcement.
Shares in James Hardie soared 7.1 per cent to $41.70 after the business shifted its primary listing to the New York Stock Exchange.
Defence company DroneShield slumped 4.209 points to $2.28 despite the business announcing a new $9.7m contract with an unnamed defence customer in Latin America.