Australian shares inch higher, NAB, Telstra climb
SYDNEY (MarketWatch) — Australian shares inched higher in early trading, with the S&P/ASX 200 index up 0.1% at 4,923.70. Supporting the index, National Australia Bank Ltd. advanced 1% after reporting a 4% increase in quarterly cash earnings, while telecom giant Telstra Corp. edged up 0.2% after releasing its own earnings report which showed a 8.8% rise in first-half net profit. Media giant News Corp. fell 3.7%, however, after the firm cut its profit outlook, even as it reported that its quarterly net profit more than doubled to .4 billion. News Corp. owns MarketWatch, the publisher of this report.
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