- ASX200 started the week unchanged from Friday?s session at 7538.40.
- ELMO Software tumbled 7.6% on 2021 full year results.
- Moderna received TGA approval for use of its COVID vaccine in Aus.
The Australian market overturned a morning rally to close flat on Monday at 7538.40 as heavy losses for the gold miners offset strong gains for the financial sector and insurers.
The tech sector started the week in negative territory as Nuix ended the session 4% lower, while Appen shed more than 2% and Afterpay dropped 1.63%.
Bitcoin is trading 3.62% lower in the last 24-hours at US$43,380.94 at 4:30pm AEST.
Cloud-based HR and payroll software company ELMO Software took a hit today despite releasing positive full year results. For the 12 months ended June 30, ELMO reported Annualised Recurring Revenue of $83.8m, up 52.1% YoY and revenues of $69.1m, up 37.9% YoY.
Making headlines, the Therapeutic Goods Administration in Australia has just approved Moderna?s COVID-19 vaccine for use in Australia as it is deemed 93% effective against any infection, 98% effective against severe disease and 100% effective in preventing death. The approval will see 25 million doses of Moderna available to Australia, with 10 million expected by the end of the year.
And the recent Suicide Squad film rated the second lowest in DCEU history for its opening box office weekend, earning just US$26.5 million.