Stocks opened strongly following the big night on Wall Street, however a sharp drop in Telstra’s share price helped erase the morning gains.
Driving Telstra lower today was the ACCC’s concerns over its proposed separation under the NBN agreement.
The telco was down almost 5% at one stage before paring its daily loss to 2.6%.
In the financial space, CBA slipped 0.1% after making a $370 million offer for advisory firm, Count Financial.
The mining giants strengthened on the back improved risk appetite; BHP climbed 0.5% and Rio Tinto rose 1.7%.
The ASX 200 edged up six points (+0.1%), settling at 4269.