Telecom Inventory
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The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
AUSTRALIAN shares closed slightly higher today, driven by gains in the telecommunications and financial sectors.
At the close, the benchmark S&P/ASX200 index was up 11.9 points, or 0.28 per cent, at 4,297, while the broader All Ordinaries index was up 9.2 points, or 0.21 per cent, at 4,351.9.
On the ASX 24, the June share price index futures contract was up 23 points at 4,308, with 25,064 contracts traded.
WINNIPEG - Manitoba Telecom Services Inc. reported a sharp jump in first-quarter profits on Thursday and praised recent moves by Ottawa to level the playing field for Canada’s smaller wireless players.
The Winnipeg-based telecommunications (TSX:MBT) company posted net earnings of $53.1 million, or 80 cents per share, up from $43.4 million, or 67 cents, in the same 2011 period.
Revenue slid to $435.1 million from $439.3 million.
DUBAI, April 29 (Reuters) - Qatar Telecom 7010.SE (Qtel) on Sunday reported a 12 percent drop in first-quarter net profit, citing mainly foreign exchange losses, but the former monopoly still beat forecasts.
Qtel made a profit of 711 million riyals ($195.29 million) in the three months to March 31, down from 811 million riyals in the year-earlier period.
“Net profit during the period was adversely impacted by movement in the Indonesian currency,” Qtel said in an emailed statement. “Net profit decreased mainly due to foreign exchange losses in (Indonesian subsidiary) Indosat.”
A day after the telecom regulator proposed high spectrum prices, the shares of leading telecom operators tumbled in early trade. The losses were later cut on expectations the proposals might not be accepted. Shares of the largest telecom operator, Bharti Airtel, in morning trade fell as much as 7.6 per cent to Rs 289, its lowest level in nearly two years. The fourth-largest player, Idea Cellular, plunged as much as 14.5 per cent, while Reliance Communications, the second largest, declined as much as 3.4 per cent.
The Telecom Regulatory Authority of India (Trai) had proposed a near-tenfold increase in the reserve price for spectrum over what operators had paid in 2008.
