Australian shares rose on Monday following a Wall Street rally last Friday.

The S&P/ASX 200 rose 0.7% or 61.20 points to close at 8,344.40.

The S&P 500 and the Dow Jones closed at an all-time high last Friday, boosted by a higher-than-expected earnings report from Netflix.

In corporate news, Mineral Resources' (ASX:MIN) shares slumped 14% at market close as the mining firm hired external legal counsel to investigate after founder and Chief Executive Chris Ellison admitted to failing to disclose revenue on certain sales contracts with the company to the Australian Taxation Office.

The company previously paid offshore entities operated by Ellison under various sales contracts entered before the company's initial public offering in 2006, some of which were not reported to the ATO.

Meanwhile, WiseTech Global's (ASX:WTC) shares finished 15% lower as the tech firm reviewed media reports involving Chief Executive Richard White and an alleged sexual partner, including claims about the CEO's use of company funds.

Multiple media outlets including The Sydney Morning Herald reported that a woman who had a sexual relationship with White had threatened to report to the WiseTech board about damaging allegations against White and his alleged use of company funds for her benefit.

Lastly, Nick Scali (ASX:NCK) expects net profit after tax of AU$30 million to AU$33 million for its Australia and New Zealand operations in the first half of fiscal 2025. Sales revenue for Australia and New Zealand is forecast to be in the range of AU$217 million to AU$222 million. Shares of the furniture retailer fell 4% at market close.