Telstra Corporation Limited.

Overnight US stocks slumped more than 5% as investors worried about the global financial crisis and a US recession, wiping out the gains from the Election Day rally as the problems facing US President-elect Barack Obama dimmed optimism on Wall Street.

The US Federal Reserve's bailout of insurance giant American International Group (AIG) did little to ease the concerns of investors worldwide, Asian markets were deeply in the red, with Hong Kong's bourse down about seven per cent. The Australia share market took another massive beating yesterday.

The company's evolution is bringing results, returning shareholder value to near three-year highs. With its shares trading over 300% over the year's low, NetComm has achieved a remarkable turn around in a broader market that is down approx 26% of last year's high.

The Australian share market closed higher on Tuesday. The benchmark S&P/ASX200 index rose 27.5 points to 5053.6, while the broader All Ordinaries rose 21 points to 5090.3.

The Australian share market closed in the black again yesterday, driven by a stronger financial sector, but weaker resource stocks capped the gains. The benchmark S&P/ASX200 index was up 38.8 points or 0.76% to 5144.1, while the broader All Ordinaries gained 26.8 points or 0.52%, to 5188.4.

Telstra Corporation Limited.

Telstra Corporation Limited.

Leading infrastructure and industrial services company United Group Limited has renewed its end-to-end property and facilities management contract with Telstra.