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ASX closed red; Humm Group soared 20% on acquisition proposals; Australian Clinical Labs rallied on Medlab acquisition.

  • The ASX200 closed 0.16% lower on Monday at 7292.20 points.
  • Humm Group shares soared 20% on receipt of acquisition proposals.
  • Australian Clinical Labs jumped 2% after completing Medlab acquisition.

The Australian market has started the week in negative territory despite recovering some losses in afternoon trade, closing Monday?s session 0.16% lower at 7292.20 as energy stocks tumbled 3.5%.

The tech sector managed a slight gain at the closing bell of Monday?s session as EML Payments rallied 2.3% while Xero added just under 2%.

Bitcoin is trading 2.22% lower over the last 24-hours at US$46,806.87 at 4:30pm AEDT.

Shares in buy now, pay later provider Humm soared 20% today after the company announced the appointment of a new chair and the receipt of proposals from third parties to acquire all or part of the Humm Group. Christine Christian AO has been appointed new Chair of the Humm Group, replacing Andrew Abercrombie in the role.

Making headlines, Australian Clinical Labs jumped almost 2% today after completing its $70m acquisition of Medlab Pathology, a leading Australian privately-owned independent pathology provider. Medlab brings two laboratories and 288 collection centres across NSW and QLD to the Australian Clinical Labs company.

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