- ASX200 is up 1.06% at 6834 at mid-session.
- Afterpay welcomes UK regulations on BNPL operators.
- Tesla recalls 135,000 Model S and Model X cars.
The Australian sharemarket is up 1.28% at 6748.20 points at mid session, led by a 2% surge in healthcare stocks.
Virgin Money is leading today?s gains, up almost 13% on the back of a Q1 profit result. Carsales.com is also surging after Goldman Sachs upgraded the online car dealer?s shares to a buy rating with an improved price target of AUD$22.60.
Bitcoin continues to climb over US$36,000 at 2pm AEDT. The cryptocurrency has gained more than 7% in the past 24 hours, with analysts attributing the gains to Elon Musk's comment that Bitcoin is on the edge of mass adoption.
Making headlines, Afterpay has welcomed a UK crackdown on ASX-listed BNPL companies. Under the new regulations, Afterpay and other Australian competitors like Zip Co and Lay Buys will have to undertake affordability checks before lending to customers.
Meanwhile, the Australian Bank Association wants the Federal Government to close regulatory "gaps" that expose the BNPL sector to potential money laundering, with companies such as Afterpay operating outside the banking system.
And Tesla has recalled 135,000 Model X and Model S cars made between 2012 and 2018 over faulty flash memory chips that led to issues with turning signals and the autopilot.