AUS
NZ
UK
CA
USA
IND
Highlights
- Shares of Telstra were trading at AU$3.78 apiece, down 1.56%, at 2.26 PM AEST.
- The decline could be due to the overall sectoral weakness.
- Additionally, the competitor Optus reported a massive data breach on Thursday.
Shares of Telstra Corporation Ltd (ASX:TLS) were trading at AU$3.78 apiece, down 1.56%, on ASX on Friday (23 September) at 2.26 PM AEST. The shares of Australia's largest telecommunications company were trading in the red despite the company not releasing any price-sensitive news.
However, the performance of Telstra’s shares outperforms ASX 200 index, which was 2.23% down at 6,550.90 points at 2.26 PM AEST. On a sectoral front, all 11 sectors were trading in the red at 2.27 PM AEST, and telecommunications services was trading 2.57% lower at the same time.
Why are Telstra shares trading lower today?
The decline in share price could be due to the overall sectoral weakness and muted broader market. The other reason could be that Telstra’s biggest competitor Optus reported a massive data breach on Thursday (22 September). Optus is the second-largest telecommunications services provider in Australia. Optus isn’t listed on the ASX and is 100% owned by Singapore’s Singtel.
A look at Optus’ cyber-attack news
Optus acknowledged through its official website that a hack against its business may have compromised the personal information of its customers, including names, addresses, dates of birth, phone numbers, email addresses, and license and passport numbers. Optus further said that it was looking into the possibility of unauthorised access to customer information.
Optus said that the attack was immediately stopped once realised. Optus informed that it was collaborating with the Australian Cyber Security Centre (ACSC) to reduce any threats to customers. The Office of the Australian Information Commissioner, the Australian Federal Police, and other important regulators were informed by Optus.
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 22 September 2022
However, messages and voice calls have not been compromised, and neither have Optus’ services like mobile or home internet. Optus services continue to be safe to use and run normally, the company said in an official statement.
Optus also informed important banking institutions about this issue. The company urged them to be more vigilant regarding Optus customers’ accounts and watch out for any suspicious or erratic activity or messages.
Telstra’s stock performance
In the last one month, the company's shares have fallen more than 8% and over 10% on a YTD basis. However, the shares have dropped just 5% in the last one year (based on share price tracked till 23 September at 2.21 PM AEST).
