Australian shares close higher led by News Corp and banks

Australian share prices closed higher with solid gains by News Corp, resources and banking sector. The All Ordinaries index was up 26.5 points at 2,987.2.

The market was being influenced by options related activity while the banks are well supported ahead of their results on expectations of strong dividend payouts.

News Corp rose A$0.19 to A$10.65 and its preference shares added A$0.08 to A$8.93.

Telstra was up 0.04c at A$4.81, SingTel was up 0.01c at A$1.46 and Telecom NZ added 0.03c to A$4.55.

ANZ Bank was up 0.15c at A$18.05 ahead of tomorrow's full year results.

National Australia Bank was up 0.61c at A$33.60, Commonwealth Bank rose 0.36c at A$30.11, Westpac was up 0.05c at A$13.65 and St George was up 0.24c at A$17.19.

BHP Billiton was up 0.27c at A$9.89, WMC was up 0.14c at A$7.92 and MIM added 0.02c to A$1.21.

Qantas added 0.03c to A$3.79.