The Telstra (ASX:TLS) share price is gaining today

It's been a good day on the sharemarket for the Aussie telco. We take a closer look

| More on:
Woman on phone cheering while sitting at computer

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Telstra Corporation Ltd (ASX: TLS) share price is gaining today, despite no news having been released by the company.

At the time of writing, shares in Telstra are trading for $3.65 – 2.83% higher than their closing price yesterday.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up by 1.77% today.

Today's gains have seen the telecommunications giant hitting yet another 52-week high. Lately, Telstra has been regularly surpassing that milestone.

So, what's been driving Telstra shares higher lately? Let's take a look.

Telstra's latest news

Interestingly, the ASX hasn't heard any price sensitive news from Telstra since April 23, when the company announced it had secured 1000 MHz in the 26 GHz spectrum auction.

Telstra expected the spectrum to extend its 5G offering into the future.

The news saw the Telstra share price end the day just 0.23% higher than its previous close. It has since gained another 6.16%.

In non-price sensitive news, earlier this month Telstra announced it is now solely listed on the ASX, after it removed its listing from the New Zealand stock exchange.

Telstra share price snapshot

It has been a good year on the ASX for Telstra shares, which have gained 20% since the beginning of the year.

They are also 13% higher than they were this time last year.

The company has a market capitalisation of around $41 billion, with approximately 11 billion shares outstanding.

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. 

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Communication Shares

A cute little kid in a suit pulls a shocked face as he talks on his smartphone.
Share Market News

Telstra share price hits 8-year high amid a lacklustre trading week

The ASX 200 communications services sector was the best performer last week, rising 2.96%.

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

Guess which high-yielding ASX All Ords dividend stock Macquarie expects to surge 34% in a year

Looking for market-beating passive income and share price gains? Check out this ASX All Ords stock!

Read more »

A group of young people smiling and watching TikTok on their mobile phones
Communication Shares

Are Telstra shares heading to $4.90?

One leading broker has given its verdict on the telco giant's shares.

Read more »

Young woman thinking with laptop open.
Communication Shares

How an end of the Trump tariffs could sink Telstra shares

A leading expert foresees trouble for Telstra shares amid Trump’s tariff retreat.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Communication Shares

Telstra share price dips amid BIG leadership news

Telstra released a major leadership announcement on Monday.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Communication Shares

Why are News Corp shares trading 4% higher today?

Investors respond to News Corp’s quarterly results announcement.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Communication Shares

Why this expert is calling time on Telstra shares

A leading expert forecasts tougher times ahead for Telstra shares. Let’s find out why.

Read more »

man looks at phone while disappointed
Communication Shares

$10,000 invested in Telstra shares at Christmas is now worth

Should you have put $10,000 into the telco giant before the Christmas break? Let's find out.

Read more »