The Sky Network Television Ltd (ASX: SKT) share price was hit hard today after the NZ competition regulator rejected its proposed merger with Vodafone's New Zealand unit, according to CNBC. The SKT share price fell 12.4%.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.4% to 5784 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.3% to 5832 points
- AUD/USD at US 76.83 cents
- Iron Ore at US$94.30 a tonne, according to the Metal Bulletin
- Gold at US$1,236.66 an ounce
- Brent oil at US$56.34 a barrel
Unfortunately, Sky TV wasn't the only company that was hit hard today. The Flight Centre Travel Group Ltd (ASX: FLT) share price also fell 1.5% while the Ramsay Health Care Limited (ASX: RHC) share price declined 3.2%.
Flight Centre downgraded its guidance for underlying profit before tax and reported a 36.2% decline in net profit after tax. Meanwhile, Ramsay Health Care's growth was reasonable although its shares may have been impacted by the news that its long-serving CEO will retire in 2017.
The Ardent Leisure Group (ASX: AAD) share price was slammed 21.8% as well when it revealed the tragedy that occurred at its Dreamworld theme park last year had impacted its business by a total of $95.2 million.
Meanwhile, the iron ore miners have come under pressure following Chinese forecasts that the iron ore price could slip from its current level.
The BHP Billiton Limited (ASX: BHP) share price fell 2.7%, Fortescue Metals Group Limited (ASX: FMG) closed 2.6% lower and the Rio Tinto Limited (ASX: RIO) share price was dumped 5.5%.
Other businesses that fell sharply today included iSentia Group Ltd (ASX: ISD), down 7.5%, along with South32 Ltd (ASX: S32) and Nanosonics Ltd. (ASX: NAN), which fell 3.9% and 5.6% respectively.
On a brighter note, the Touchcorp Ltd (ASX: TCH) share price rocketed 25.7% higher after it announced a merger proposal with Afterpay Holdings Ltd (ASX: AFY). The Afterpay share price, on the other hand, declined 4.9%.
The Estia Health Ltd (ASX: EHE) share price soared 14% while Crown Resorts Ltd (ASX: CWN) and InvoCare Limited (ASX: IVC) rose 7.9% and 8.4%, respectively.
Qantas Airways Limited (ASX: QAN) shares also rose 5.4% for the day.
Here are Thursday's top stories:
