Business news

    ASX closes down; Nexion soars since debut; Tyro rebounds from outage

    Article Image
    Highlights
    • ASX200 closes Monday?s session 0.19% lower at 6780.90.
    • Nexion soars 90% since ASX debut last week.
    • Tyro overcomes outage to post record high H1 results.

    The Australian market closed 0.19% lower at 6780.90 on Monday as Csl and the banks weighed on the market despite big gains by BHP and Costa Group.

    Webjet surged nearly 9% on hopes for a return to travel soon as Australia?s COVID-19 vaccine rollout began today.

    The mining sector surged more than 3% in today?s session with De Grey soaring almost 10% and Sandfire Resources climbing over 8.5%.

    Bitcoin is trading around US$56,300 this afternoon, down 1% in the last 24 hours. Ethereum has pulled back to trade around US$1800 at 4:30pm AEDT.

    In tech news, shares in Australian-based hybrid cloud infrastructure provider Nexion have skyrocketed 90% since its debut last Thursday. The company doubled its revenue year-on-year in FY2020 to AUD$4.5M, and plans to use the capital from its IPO to expand into NZ, Canada and Africa.

    Making headlines, payment solutions provider Tyro surged nearly 12% following the release of half-year results showing a 13% increase in the number of merchants it services and a record-high number of transactions processed by merchants, up 10% to AUD$12.1BN.

    And the whole board of an elementary school in the UK has stepped down following their distasteful comments about parents being shared on a public WebEx call that went viral.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa