Australian stock rallied for the third session in a row at the start of a new trading week.

The ASX200 broke through the key 6000 mark. A short time ago, the index was at 6,030.50, up 30.70 points or 0.51%.

The market followed Wall Street where the S&P500 rose 1.6% on Friday.

The local gains were led by financial stocks with Westpac up 1.25% to $30.87 and the ANZ Bank 1.1% to $28.775.

Media monitoring company iSentia dropped 11.5% to $$1.07 after CEO John Croll announced he was stepping down.

Telco Vocus was up 3.8% to 4$2.46 after the company announced the departure of its CEO.

QBE dropped 2.1% to $10.49 after reporting a massive half year loss on the back of writedowns on operations in North America.

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