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Telstra Corporation Ltd Weighs on S&P/ASX 200

Telstra Corporation Ltd (ASX: TLS) shares weighed on Australia’s S&P/ASX 200 (INDEXASX: XJO) (ASX: XJO) on Monday.

The ASX 200’s modest sell-down follows a turbulent week on US and Australian share markets last week.

All Ordinaries: down 0.3% at 5,919 points

ASX 200: down 0.3% at 5,820 points

Biggest Gainers

  • Telstra Corp – down 1.1%
  • REA Group Ltd (ASX: REA) – up 2.7%
  • Fortescue Metals Group Limited (ASX: FMG) – up 2.4%
  • BHP Billiton Limited (ASX: BHP) – up 1.5%

Biggest Losers

  • JB Hi-Fi Limited (ASX: JBH) – down 8%
  • Ansell Limited (ASX: ANN) – down 3.9%
  • Bendigo and Adelaide Bank Ltd (ASX: BEN) – down 2%

Amongst the Big Four banks, National Australia Bank Ltd. (ASX: NAB) was the worst performer, falling 0.8%.

JB Hi-Fi Limited shares were heavily discounted by the market today after the electronics retailer reported its half-year profit results. In an announcement to the ASX, JB Hi-Fi reported a 21% increase in half-year profit and a dividend of 86 cents per share. Read more here.

Bendigo Bank released its half-year report to the market showing a 6% jump in revenue and a profit of $232 million, up 11%. The bank intends to pay a dividend of 35 cents per share.

Ansell, which is known for making gloves and other protective equipment, announced that its revenue fell 1.2% during the six months to 31 December 2017 versus the prior corresponding period. It reported a net profit of $428 million.

REA Group shares were amongst the ASX’s best performing shares today. It reported its most recent financial results last week.

Finally, shares of packaging business Amcor Limited (ASX: AMC) rose 0.6% today following the release of its profit result.

“During the half year we have grown earnings, expanded margins and maintained strong returns, with good progress on key investments,” CEO Ron Delia said. Read more here.

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