By Sarah Turner
SYDNEY (MarketWatch) -- Australian stocks edged higher on Thursday as banks rose after a higher finish on Wall Street, with investment bank Macquarie Group (AU:MQG 34.62, +0.58, +1.70%) up 1.4%, while shares of the Commonwealth Bank of Australia Ltd. (AU:CBA 52.49, +0.71, +1.37%) rose 0.8%. National Australia Bank (AU:NAB 24.84, +0.89, +3.72%) shares were up 2.3%, although the Australian competition body rejected proposed undertakings by the banking group as part of its attempt to buy AXA Asia Pacific (AU:AXA 5.08, -0.36, -6.62%) , which traded down 9.9%. Shares of Virgin Blue (AU:VBA 0.43, -0.02, -3.37%) declined 4.5% after its U.S. antirust application with Delta Airlines was rejected. Overall, the S&P/ASX 200 Index rose 0.7% to 4,567.90.
