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ASX200 dips; Tuas rose 12% on AGM & business updates; Csl dips on response to acquisition proposal.

  • The ASX200 is trading 0.08% lower at 7221.10 after lunchtime.
  • Tuas rose 12% to a record high today following AGM & business updates.
  • Csl dips 2% after responding to speculation of taking over Vifor Pharma.

The Australian market has reversed morning gains to trade 0.08% lower at 7221.10 after lunchtime as a sell-off in health care stocks drags down the key index. The biggest winner today so far is New Century Resources, surging 1400% to $2.17/share on the back of Goldman Sachs becoming a substantial shareholder.

The tech sector is trading slightly lower today as a 4.5% tumble for Codan offsets gains for Megaport and Technology One.

Bitcoin is trading 0.87% lower over the last 24-hours at US$56,497.70 at 1:30pm AEDT.

Telecommunications services company Tuas is surging over 12% today to a record high following the company?s AGM outlining business updates and FY22 outlook. Tuas reported unaudited revenue of $12.2m for the three months ended October 31, and closed the period with a cash balance around $92,000 and around 435,000 subscribers. The rollout of the company?s 5G updates including the recent award of additional 5G spectrum network will begin in the first quarter of 2022.

Making headlines, Csl shares are trading 2.4% lower today after the biotech company responded to speculation that it is planning to acquire Vifor Pharma for around $10bn. Csl said it ?regularly assesses strategic opportunities to improve its business? but there is ?no certainty that any transaction will result from Csl?s consideration of such opportunities?.

And Zoom?s new ?Attendance Status? tool will now allow meeting host?s and co-host?s to see when attendees are late and when they joined the Zoom call, making it hard for attendees to just jump on and pretend they were always there.