The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) ended lower on Wednesday despite gains in Telstra Corporation Ltd (ASX: TLS) shares, TPG Telecom Ltd (ASX: TPM) shares and Vocus Group Ltd (ASX: VOC).
Here's a quick recap of global markets:
- FTSE 100 (UK): down 2.5%
- DAX (Germany): down 0.9%
- CAC 40 (France): down 1.6%
- Dow Jones (USA): down 0.5%
- NASDAQ (USA): down 0.1%
Here are today's key stats:
- ASX 200: down 0.6%
- All Ordinaries (ASX: XAO) (Index: ^AXAO): down 0.5%
- Australian dollar (A$) (AUDUSD): 75.21 cents
- Gold price: flat
- Copper: down 1.1%
- WTI Crude Oil: down 0.8%
- Iron ore: $US63 a tonne, according to The Metal Bulletin
Moving markets today was news out of the UK that Prime Minister Theresa May has called for a shock general election. She plans to bolster her party's ranks ahead of the country's exit from the European Union.
But despite that news and another steep fall in commodity prices overnight, shares of BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) recovered strongly.
Also staging a miraculous recovery were shares of telco providers Telstra Corporation, Vocus Group and TPG Telecom, which rose between 3% and 10%. Following TPG's decision to buy mobile spectrum and rollout a major Australian network as soon as possible these three shares went into a tailspin over fears of competition.
At the other end of the market, shares of Pilbara Minerals Ltd (ASX: PLS), Yowie Group Ltd (ASX: YOW), Oil Search Limited (ASX: OSH) and Sirtex Medical Limited (ASX: SRX) were amongst the ASX's worst performers.
Here are today's top stories:
