The market closed marginally lower today, but there was one widely-held telecommunications business that had the earth taken out from under it.

First, here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.1% to 5457 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.2% to 5520 points
  • AUD/USD at US 74.68 cents
  • Iron Ore at US$80.83 a tonne, according to the Metal Bulletin
  • Gold at US$1,191.11 an ounce
  • Brent oil at US$47.92 a barrel

Vocus Communications Limited (ASX: VOC) headlined today’s big losers. The telco’s shares plunged 24.5% following a disappointing trading update.

Vocus’ rival TPG Telecom Ltd (ASX: TPM) also collapsed 7.3%, with Telstra Corporation Ltd (ASX: TLS) ending the day flat.

Estia Health Ltd (ASX: EHE) and gold miner Independence Group NL (ASX: IGO) also ended the session 6.6% lower each.

Diversified miner BHP Billiton Limited (ASX: BHP) shed 1.4% despite a rise in the iron ore price overnight, with Rio Tinto Limited (ASX: RIO) down 1.1% as well.

Meanwhile, Cash Converters International Ltd (ASX: CCV) shed 1.5% after it advised on the Government Response to the final report of the SACC Law Review.

Elsewhere, conditions were more settled. Australia and New Zealand Banking Group (ASX: ANZ) rose 0.6% while National Australia Bank Ltd. (ASX: NAB) lifted 0.5%.

ResMed Inc. (CHESS) (ASX: RMD) was among the market’s best, rising 2.7%. Primary Health Care Limited (ASX: PRY) also rose 3.9%.

Here are Wednesday’s top stories:

  1. Why the Vocus Communications Limited share price crashed on AGM update
  2. Are BHP Billiton Limited shares about to return to $14?
  3. SMACKED: Why Vocus Communications Limited shares dropped 15%
  4. Up 172% in 2016: What’s happening at Codan Limited?
  5. Tower Limited (Australia) reports: Is it still a bargain?
  6. Gold miners are soaring as Italian banks face collapse

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.