Australian shares rose 0.3 percent on Thursday, bolstered by index heavyweights National Australia Bank and Telstra Corp, which reported higher earnings. Economic data also supported sentiment. Australian employment rose by 10,400 in January while the jobless rate held steady at 5.4 percent, beating market expectations. "February is often a soft month for shares. However, the trend in share markets is likely to remain up this year," said Shane Oliver, strategist at AMP Capital.
The benchmark S&P/ASX 200 index added 14.75 points to 4,935.7, according to the latest data. It rose 0.8 percent on Wednesday. New Zealand's benchmark NZX 50 index fell 0.4 percent to 4,195.24 after data showed New Zealand's employment fell by 23,000 jobs, or 1.0 percent, in the three months to December 31.
Top lender National Australia Bank rose 1.9 percent to A$28.63, its best close since April 2010, after it reported a 4 percent rise in first-quarter cash earnings, boosted by rising revenues and a fall in bad debts. Top phone company Telstra Corp rose 1.3 percent to A$4.64 after it posted an 8.8 percent rise in first-half net profit, bolstered by growth in its mobiles business. News Corp sank 3.2 percent to A$26.60 after reporting December quarter results.
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