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.
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%.
Qantas Airways Limited (ASX: QAN) shares also rose 5.4% for the day.
Here are Thursday’s top stories:
- Top brokers name 3 ASX shares to buy today
- Flight Centre Travel Group Ltd share price plunges as profit falls 36%
- Why the Crown Resorts Ltd share price went nuts on today’s results
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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia owns shares of Nanosonics Limited and TOUCHCORP FPO. 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.