The Australian share market fell 1.5 per cent at open on Thursday, following more heavy losses in Europe and on Wall Street overnight.
At 1016 AEST, the benchmark S&P/ASX200 index was down 65.3 points, or 1.6 per cent, at 4,076, while the broader All Ordinaries index fell 67.6 points, also by 1.6 per cent, to 4,139.8.
On the ASX 24, the September share price index futures contract was down 45 points at 4,049 with 25,000 contracts traded.
In contrast with the negative market, shares in Telstra Corporation responded positively to news that its annual profit was down by 17 per cent.
At 1020 AEST, Telstra shares were up 2.8 per cen,t by eight cents at $2.91.
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