- ASX200 is trading 0.13% higher at 7474 after lunchtime.
- Redbubble soars 12% on Morgans upgrade & FY21 results.
- Sydney Airport shares hit by lockdown extension & half-year results.
The Australian market is trading 0.13% higher today at 7474 after four straight sessions of losses as consumer staples stocks lead gains on the key index. Redbubble is the winning stock around lunchtime, up 9.89%, while Treasury Wine Estates is also surging more than 5.5%.
The tech sector is trading lower today, weighed down by Nearmap falling just under 3%, Appen down 2.3% and Megaport trading 1.4% lower.
Bitcoin is trading 5.48% higher over the last 24-hours at US$47,196.13 at 12:45pm AEST.
Online print-on-demand marketplace Redbubble is soaring more than 12% today after Morgans upgraded its shares to an add rating following the release of FY21 results. For the 12-months, Redbubble reported a 58% increase in revenue to $553m and a profit of $31m, up from a loss of $9m for FY20.
Making headlines, the release of half yearly results alongside a lockdown extension have hit Sydney Airport shares today. For the first half ending June 30, total revenue fell 33.2% to $341.6m, net operating receipts fell 98% to $1.8m and passengers were 36.4% lower. NSW also extended its lockdown until at least October today as a further 642 new COVID-19 cases were recorded today.
And OnlyFans has announced it is banning explicit content from October, which will cut revenue for many users worldwide who have made millions of dollars by sharing such content during the pandemic.