Stocks making moves or news on the ASX at the close on Thursday, October 11:
FMG – FORTESCUE METALS GROUP – up 9 cents, or 2.45 per cent, to $3.76
FMG has launched a share buyback program of up to $500 million ($US355 million), joining bigger rival Rio Tinto in handing back cash to shareholders.
TLS – TELSTRA – down 10 cents, or 3.12 per cent, to $3.11
Telstra has cut executive bonuses and apologised to shareholders after some felt they were unreasonably high for a year in which dividends and profits fell.
XRO -XERO – down $2.84 cents, or 6.26 per cent, to $45.52
The technology sector was the hardest hit following heavy falls on Wall Street overnight, tumbling more than five per cent.
ANZ – ANZ BANKING – down 87 cents, or 3.24 per cent, to $26.01
CBA – COMMONWEALTH BANK AUSTRALIA – down $1.97 cents, or 2.86 per cent, to $67.00
Commonwealth Bank chief executive Matt Comyn has been grilled by federal politicians in Canberra, revealing to a parliamentary hearing the bank had sacked 41 employees this year due to misconduct.
NAB – NATIONAL AUSTRALIA BANK – down 68 cents, or 2.55 per cent, to $26.00
WBC – WESTPAC BANKING – down 69 cents, or 2.56 per cent, to $26.29
Westpac chief executive Brian Hartzer also fronted the parliamentary hearing in Canberra, revealing a new group executive has been appointed to deal with customer complaints.