Australia: Strong earnings push shares higher, New Zealand inches up

[BENGALURU] Australian shares advanced on Thursday as upbeat earnings from local firms and US retailers lifted sentiment even as many investors remained anxious about the outlook for economic growth.

The solid corporate earnings provide much-needed relief to financial markets which have been roiled over recent months by the Sino-US trade war and the broadening economic fallout of the dispute.The energy sector, which has put on more than 6 per cent so far this week thanks to stronger oil, led the gains with gas firm Santos and electricity & gas retailer Origin Energy Ltd catapulting the sub-index over 2 per cent.

Retailer Coles Group rose 4.5 per cent as the announcement of a special dividend along with strong online sales overshadowed an annual profit drop.

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