ASX falls as telcos drags
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The news: The Australian sharemarket ended lower as the telecommunication services sector dragged.
The numbers: The benchmark ASX 200 fell 0.33% to end at 7,724.3, with nine out of 11 sectors finishing in red.
The worst performing sector was telecommunication services, down 1.06%, followed by IT (-0.85%) and industrials (-0.77%). Telstra fell 0.57% after announcing plans to ramp up its climate change commitments.
The worst stock across the ASX 200 was Deterra Royalties. Its shares tumbled 6.95% after it announced plans for a UK acquisition and said it would halve its dividend payout ratio from next year.
Reece shares fell 2.52% after Goldman Sachs analysts opened their coverage of the company with a 'sell' rating.
Light & Wonder finished 0.21% lower after its board approved a $1.5 billion share buyback.
The best performing sector was consumer discretionary, up 0.19%, followed by healthcare (0.13%) and AREITs, which ended flat.
Boss Energy finished 1.72% higher after announcing that production has started at the Alta Mesa uranium project in Texas in which it owns a 30% stake.
Telix Pharmaceuticals gained 0.97% after withdrawing its proposed US initial public offering.
The Australian dollar is lower, buying 66.21 US cents.
The context: All eyes next week will be on the Reserve Bank of Australia’s next monetary policy decision.
