Telstra update impresses, AMP sinks, Newcrest jumps

At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. The benchmark index is currently down 0.1% to 6,849.9 points.

Here’s what is happening on the market today:

Telstra share price higher on half year update

The Telstra Corporation Ltd (ASX: TLS) share price is pushing higher on Thursday following the release of its half year results. The telco giant reported a 10.4% decline in total income to $12 billion and a 14.2% reduction in underlying EBITDA to $3.3 billion. The latter was largely due to an estimated in-year NBN headwind of $370 million and an estimated $170 million impact from COVID-19. Positively, Telstra’s free cash flow was strong, allowing the board to maintain its 8 cents per…