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

Summary

• 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