LOS ANGELES – Australia's market saw limited movement in early Thursday trading, as upbeat earnings balanced profit-taking in bank shares to hold the S&P/ASX 500 at a 0.1% gain to 5,314.40. Among blue-chip firms reporting financial results, most saw their shares move higher. Heavyweight Telstra Corp. rose 0.8% after the telecom hiked its dividend, even as profit growth trailed analysts' average estimate. Shares of bourse-operator ASX Ltd. climbed 1.1% as increased listings boosted its bottom line, and Transurban Group Ltd. gained 0.7% after reporting results roughly in line with market expectations. Banks, however, traded mostly lower after a strong advance in recent sessions on the back of solid earnings. Commonwealth Bank of Australia fell 0.6%, Westpac Banking Corp. retreated 0.4%, and National Australia Bank Ltd. lost 0.5%. Among miners, Newcrest Mining Ltd. added 0.4% as Dow Jones Newswires quoted the gold extractor as saying it had no plans for equity raising, while Oz Minerals Ltd. lost 1.7% after a rally in the previous session, with Credit Suisse and Citi both cutting their ratings on the stock.
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