In our local market the ASX200 is currently trading at 6259.00 down -0.4% or 25.38 points with Telecom higher by 5.85%, tech up 3.99% and on the flipside Utilities are lower by 1.51%. Financials are also down with the banks weighing on the index as NAB, CBA, ANZ and WBC are all lower by 1%.
In corporate news, TPG Telecom has confirmed it has engaged in discussion with Vodaphone regarding a potential merger. On the earnings front Altium Ltd and Wisetech Ltd shares are soaring after a positive earnings release. Amongst broker recommendations, Monadelphous Group shares are lower by 4.6% as Deutsche Bank downgraded the stock to sell and JPMorgan to underweight.
Chart of the Day: Altium Ltd (ALU) Daily Chart