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ALL ORDINARIES Index Rises, TPG (ASX:TPM) Shares Drop

Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently up 0.25% at lunch.
Lunch ASX update

Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently up 0.25% at lunch.

The TPG Telecom Ltd (ASX: TPM) share price is down 14.6% because the Australian Competition and Consumer Commission (ACCC) has raised concerns about the planned merger with Hutchison Telecommunications (Aus) Ltd (ASX: HTA), which is down 25%.

The share price of Telstra Corporation Ltd (ASX: TLS) is down 2.3% with investors worrying that an un-merged TPG would be a large low-cost competitor.

Shares of large mortgage broking business Mortgage Choice Limited (ASX: MOC) are down 5% because it has lowered guidance of its profit and home loan settlements in FY19.

The Sonic Healthcare Limited (ASX: SHL) share price is up 2%, the pathology business announced it has completed its institutional bookbuild to raise $600 million for its Aurora Diagnostics acquisition.

Shares of APA Group (ASX: APA) are down 1.6% with the CEO who has been there over a decade announced he would be retiring next year.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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