Market Wrap: Telstra shares rise despite another outage

Local shares traded mostly flat today in the lead up to the long weekend.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) flat at 5166 points.
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.1% to 5230 points.
  • AUD/USD at US 75.95 cents
  • Iron Ore at US$58.82 a tonne, according to the Metal Bulletin
  • Gold at US$1,245.13 an ounce
  • Brent oil at US$41.45 a barrel

In what was another quiet day for local investors, the share market ended the day where it started.

Telstra Corporation Ltd (ASX: TLS) shares managed to eke out a 1.4% gain even though its mobile customers endured the fourth network outage in less than two months.

The miners produced mixed results. BHP Billiton Limited (ASX: BHP) closed 1.5% lower, but South32 Ltd (ASX: S32) gained 1%.

The banks were mostly lower as well. Australia and New Zealand Banking Group (ASX: ANZ) and National Australia Bank Ltd. (ASX: NAB) fell 1.7% and 1.5%, respectively. Trading was tamer for both Westpac Banking Corp (ASX: WBC) and Commonwealth Bank of Australia (ASX: CBA) which fell 0.3% each.

Ardent Leisure Group (ASX: AAD) and TPG Telecom Ltd (ASX: TPM) were two of the market’s best performers for the day, lifting 11.8% and 7.2%. Independence Group NL (ASX: IGO), on the other hand, fell 4.4%.

Here are Tuesday’s top stories:

  1. What will you do with YOUR share of this $19 billion?
  2. Another outage for Telstra Corporation Ltd: What does this mean for investors?
  3. 5 reasons SEEK Limited shares can continue to climb
  4. Is iron ore heading back to US$60 a tonne?
  5. 3 blue-chip ASX shares oozing franked dividends
  6. Is the Australian dollar set to fall below US65 cents?
  7. TPG Telecom Ltd turns it on with more gangbusters growth

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

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.

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