TELSTRA shares hit a five-year high yesterday as investors flocked to high-yield stocks in the telco and banking sectors to protect against dramatic sell-offs in resources stocks.
Shares in the nation's dominant telco soared to their highest point in five years to hit $4.84 before closing at $4.82, a 2.8 per cent gain for the day compared with a 1.1 per cent jump in the broader market.
Source:
http://www.theaustralian.com.au/australian-it/telstra-shares-hit-five-year-high-as-investors-flee-resources-sector/story-e6frgakx-1226622996392
