- ASX200 is trading 0.09% higher at 7036.80 on Monday.
- Zip Co surges on Spotii US$16m and Twisto ?89m acquisitions.
- Domino?s Pizza surges on Citi upgrade on growth opportunities.
The tech sector is trading lower today as a near 6% loss for Kogan.com weighs down the sector despite strong gains for Nuix and Codan. Afterpay is also trading 1.78% lower today.
The Australian market has pulled back from a morning surge to trade 0.09% higher at 7036.80 on Monday afternoon as gains for the gold miners boost the key index. Kogan.com is leading the gains up 11.15% while EML Payments is top of the losers, trading 5.93% lower.
Bitcoin continues to dive this afternoon, trading 5.07% lower at US$35,580.69 at 1:45pm AEST.
Zip Co is rallying today after announcing it?ll take full control of the UAE?s Spotii Holdings and Europe?s Twisto Payments for $160m in cash or shares to expand its global market reach. Zip already has minority holdings in both companies but likens these purchases to its QuadPay acquisition in the US and is using these purchases to offer a ?single global BNPL solution across multiple markets with consistent global service quality?.
Making headlines, Domino?s Pizza is catching investors? eyes today as Citi has upgraded the pizza giant on the basis of opportunities for the company to expand into new countries, acquire more stores in existing markets and increase its rollout pace in Europe. Citi upgraded Domino?s from sell to neutral and set a price target of $104.20, well above the initial $72.40.
And a new cryptocurrency called CHANGE donates a portion of every transaction to various charities around the world, after being created to help those in need.