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