ASX to retreat; Telstra keeps 8c dividend; Ares abandons AMP takeover



  • ASX futures were down 0.5% at 6766.0, hinting that the local benchmark will cool off after yesterday’s rise
  • The S&P 500 and the Nasdaq edged lower from record levels, while the Dow rose 0.2%. Energy and financials rose but gains were limited for some big tech names amid an ongoing portfolio rotation. 
  • Telstra is keeping its 8c fully franked interim dividend despite a 10.4% drop in total income for the half
  • AMP says suitor Ares Management does not intend to proceed with a proposal to acquire 100% of the company at $1.85 per share
  • Toll giant Transurban has cut its distribution from 31 cents to 15 cents, as it swings to a first-half loss of $419 million

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Good morning

Good morning all and welcome to today’s edition of Markets Live.

Alex Druce is on deck as a steady stream of earnings results flow through. We’ll have details on Telstra, AMP, Transurban, and Newcrest Mining, plus a few others.

The ASX is expected to slide after a mixed overnight session on Wall Street. Commodities are higher.

This blog is not intended as financial advice

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