Reuters Finance News, Australia |
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Friday May 9, 2008, 10:13 am
(Updates to market opening) SYDNEY, May 9 (Reuters) - Australian shares rose 0.2 percent on Friday, as resource firms gained on record oil prices and a jump in gold prices, while National Australia Bank Ltd (ASX: NAB.ax) rose after reporting upbeat first-half profits. The benchmark S&P/ASX 200 index .AXJO rose 10.2 points to 5,733.4 by 0010 GMT, after rising nearly 1 percent in the previous session. NAB, the nation's top lender by assets, rose 1.7 percent to A$31.52 after it reported an 8 percent rise in first-half core profit, just ahead of analysts' forecasts. However, it raised its charge for bad and doubtful debts by 86 percent [ID:nSYD11706]. ($1=A$1.06) (Reporting by Geraldine Chua)
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