Australian shares climbed to a three-week peak on Monday,...

Australian shares climbed to a three-week peak on Monday, lifted by improving risk appetite and upbeat earnings at home, while New Zealand stocks took a breather after last week's 3.5 percent rally.

The S&P/ASX 200 index (xjo) powered up 0.6 percent or 29.804 points to 4,983.2 by 02:49 GMT. The benchmark rallied nearly 4 percent last week, having erased the previous week's losses. Still, the index is 2.1 percent down this year, having been rocked by worries about global growth and tumbling oil prices.

Gains were across the board with industrial stocks the star performers. Logistics provider Brambles (BXB) surged 9 percent to touch its highest in nine years after reporting a net profit gain of nearly A$300 million.

The share price of Bluescope Steel (BSL), Australia's biggest steelmaker, scaled its highest in more than a year after

first-half net profit doubled.

Miners also gained after a rise in metal prices and iron ore, Australia's top export earner.

Fortescue Metals Group (FMG) jumped 8 percent to a three-month peak, while Rio Tinto (RIO) and BHP Billiton gained between 2 and 3 percent.

The better mood spread to financials which have suffered from a general risk aversion in recent weeks.

Macquarie Group (MQA) led the pack with a jump of 1.5 percent, while Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac (WBC) rose around 0.5 percent.

Strong earnings lifted health insurer NIB Holdings (NHF) 7.3 percent on an encouraging outlook.

But the market gave some energy stocks a wide berth on concerns about a general oversupply of oil.

Santos (STO) and Woodside Petroleum (WPL) dropped around 1.5 percent each.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.28 percent or 17.18 points to 6,124.53 as the index stabilised after five consecutive sessions of gains the previous week.

Freightways (FRE) led losses, falling 3.2 percent, after the delivery company said in its half-year earnings results that it was cautious in its outlook given global market volatility.

Auckland Airport (AIA) lost 1.42 percent as investors took profits after the company's shares rose as much as 3.9 percent and hit an all-time high on Friday. The company had reported half-year net profit rising 25 percent on a tourism boom.

Health software company Orion Health Group (OHE) edged down 0.73 percent while Nuplex Industries (NPX) lost 0.79 percent.

Steel products supplier Steel & Tube Holdings (STU) was the biggest gainer, rising 2.7 percent after the company posted a half-yearly jump in net profit after tax of 47 percent on Friday.