Sydney, June 8, 2026, 01:00 AEST
- Telstra closed last week at A$4.97, dropping 4.6% from A$5.21 over the previous seven days.
- The ASX shuts on Monday for the King’s Birthday holiday. Telstra resumes trading on Tuesday.
- Telstra wrapped up an on-market buyback worth around A$1.25 billion. The company bought back its own shares on the exchange.
Telstra Group shares were weak going into Australia’s extended market holiday after finishing a A$1.25 billion buyback. The stock fell as the wider Australian market also lost ground ahead of the break.
ASX won’t open Monday due to the King’s Birthday holiday, so investors will have to wait until Tuesday to see if Telstra bounces back from last week’s drop. The ASX’s cash-market calendar for 2026 shows Monday, June 8, as a holiday — no trading, settlement, or business day.
Telstra shares ended at A$4.97 on June 5, unchanged for the session and off 4.61% from A$5.21 a week ago, market data from Intelligent Investor showed. The company’s value sat around A$55.5 billion.
Telstra’s big move this week came June 4, when it filed its last buyback notice. The document showed Telstra bought back 245,892,740 ordinary shares, paying A$1,249,999,998.72 overall. The highest price was A$5.40 on April 2, and the lowest was A$4.78 on Oct. 8, 2025.
Buybacks help boost earnings per share by cutting the share count, spreading profit over fewer shares. But when the buyback ends, Telstra loses a steady buyer in the market. That’s the real test for Telstra this week.
The stock edged down as the S&P/ASX 200 dropped 0.70% to 8,625.10 on Friday. Banks and miners weighed on the index, offsetting a lift in some other sectors. The All Ordinaries also declined, losing 0.68%.
Telstra’s half-year numbers remain key for investors. Back in February, Telstra posted a 9.4% jump in first-half profit, hitting A$1.12 billion as mobile revenue grew. The company also cut its full-year EBITDAaL outlook to a range of A$8.2 billion to A$8.4 billion. EBITDAaL, or operating earnings after lease costs, is a standard profit figure for telecoms.
Chief Executive Vicki Brady said at the time the on-market buyback should help earnings and dividend per share growth. Zavier Wong, market analyst at eToro, called Telstra “one of the most defensive names on the ASX.” He said a growing fully franked dividend paired with buyback support is a “compelling proposition.” Reuters
Telstra, Optus, and TPG Telecom are still in control of Australia’s retail mobile market, the competition regulator said. The three national operators and their sub-brands made up 87% of the market in 2024-25. The ACCC also flagged that leading brands kept raising prices.
Telstra could be at more risk now that buyback support is gone, with the stock left more open to a shaky market, slower growth in mobile subscribers, or steeper pricing moves from TPG and Singtel’s Optus. A weak Wall Street session may add pressure after U.S. stocks dropped hard Friday as hot jobs numbers stoked concerns over interest rates.
Telstra’s investor calendar this week skips earnings. The company’s next listed events are director nominations closing Aug. 7 and annual results set for Aug. 13. So Tuesday’s session is about how the stock trades, what the tone looks like, and if investors keep buying the dividend and mobile pitch with no buyback in play.
