Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished lower on Thursday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) lower 0.07% to 6,059.40
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) lower 0.01% to 6,139.60
- AUD/USD at US 71 cents
- Gold at US$1,308.81 an ounce
- Brent Oil at US$64.01 a barrel
Fund manager Magellan Financial Group Ltd (ASX: MFG) went up 9.9% today after another impressive report showing profit growth.
AMP Limited (ASX: AMP) shares dropped 7.8% after the financial business reported a large drop in profit.
The share price of Treasury Wine Estates Ltd (ASX: TWE) ended the day up 0.6% after reporting its result and forecasting further growth in FY20.
Here are some of today’s top stories:
- The credit card Qantas says you can’t have
- Suncorp share price sinks lower after natural hazard claims squash half year profits
- South32 share price storms higher on strong half year result
- What you need to know about Tassal Group’s share price surge and record result
The Telstra dividend reduction has shown why it can be dangerous chasing a high yield. I think it’s better to go for shares that have a clear route to sustainable income increases with a decent starting yield, such as these quality ASX dividend shares.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Treasury Wine Estates Limited. 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 Scott Phillips.