The Australian share market finished slightly higher, reversing earlier small losses as investors switched into defensive stocks.
At the close on Tuesday, the benchmark S&P/ASX200 index was up 8.9 points, or 0.21 per cent, at 4,292.2, while the broader All Ordinaries index was up 7.9 points, or 0.18 per cent, at 4,317.4.
On the ASX 24, the September share price index futures contract was seven points higher at 4,257 with 21,031 contracts traded.
EL&C Baillieu director Richard Morrow said companies such as Telstra, CSL and Cochlear buoyed the wider market.
“Defensive stocks and a couple of other companies which reported today are in vogue,” Mr Morrow said.
Investors were particularly attracted to Telstra, which goes ex-dividend on Friday.
Mr Morrow said he expected the market to be driven by local earnings results for the rest of the week, with little action anticipated on European and US markets during the northern summer break.
Wall Street finished mainly in the red, amid very low volumes after disappointing economic data from Japan and Greece, and no stimulatory measures from China.
Locally, National Australia Bank (NAB) announced a weaker quarterly profit of $1.2 billion, with revenue down because of higher funding costs and weaker financial markets.
NAB shares were 35 cents, or 1.4 per cent, lower at $24.70.
ANZ Bank shares were also weaker, down four cents at $23.76, while Commonwealth Bank was 15 cents lower at $55.54 but Westpac finished 17 cents higher at $23.66.
Medical gloves and condoms maker Ansell was 3.2 per cent, or 44 cents, higher at $14.24 after it said it expected to lift earnings in the 2013 financial year.
GWA shares were 8.5 cents, or 4.2 per cent, lower at $1.935 after the bathroom and kitchen supplier posted a 37.4 per cent fall in full year profit due to a deteriorating housing market.
Telstra shares were 10 cents higher at $3.83 and Optus parent Singapore Telecommunications was down one cent at $2.55.
Optus on Tuesday said mobile phone revenue growth had stopped in Australia and that its parent reported earnings fell 3.2 per cent to $S1.2 billion ($A915 million) for the quarter to June 30.
In the healthcare sector, CSL shares gained 72 cents, or 1.8 per cent, to $40.08.
Among the major miners, BHP Billiton was six cents higher at $32.95 and Rio Tinto was down eight cents at $56.52.
National turnover was 1.51 billion securities worth $3.52 billion, with 401 stocks up, 456 down and 346 unchanged.
The price of gold in Sydney was $US1,614.23 per fine ounce, down $US10.07 from $US1,624.30 on Monday.
