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SYDNEY, July 31 (Reuters) - Australian shares rose 0.52 percent on Friday, gaining for the first month since February, as investors bought into higher yielding financial sector stocks and risk appetites improved on more upbeat U.S. economic outlook.
The S&P/ASX 200 index .AXJO rose 29.677 points to 5,699.200 at the close of trade, its third straight day of gains. The benchmark gained 4.4 percent throughout July.
New Zealand's benchmark NZX 50 index .NZ50 rose 0.49 percent or 29.110 points to finish the session at 5,920.960. It gained 3.4 percent on the month.