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ASX200 rallies; Openn Negotiation receives US patent approval; Sydney Airport lifts 2.8% on ACCC outcome.

  • The ASX200 is trading 0.09% higher today at 7411.80 after lunchtime.
  • Openn Negotiation soars 11% after receiving patent approval in the US.
  • Sydney Airport shares lift 2.8% after ACCC gives green light for takeover.

The Australian market has reversed morning losses to trade 0.09% higher at 7411.80 after lunchtime as a rally for the gold miners leads gains on the key index, while every sector remains only slightly changed through the session so far.

Commodity prices edged higher overnight following relatively positive news around the Omicron variant of COVID-19 overnight. The international oil benchmark, Brent crude, gained 0.7% to US$75.99 a barrel, while Iron Ore is up 3.49% over the last week at US$106.77/megatonne.

Australian jobs data out today showed a gain of 0.2% in the first two weeks of November compared to a 1.5% gain in the previous fortnight as Sydney and Melbourne emerged from lockdowns.

The tech sector is trading 0.3% lower today as sharp losses for Xero and Codan offset Appen?s more than 3% gain.

Bitcoin is trading relatively steady this afternoon, just 0.70% lower over the last 24-hours at US$50,241.40 at 1:15pm AEDT.

Shares in Openn Negotiation are soaring more than 11% today after the online communication and negotiation for property transaction platform announced the US Patent and Trademark Office has issued a notice of allowance for the company?s patent application. The accepted patent related to a system for conducting real estate sales over the internet where the sale is administered by a sales facilitator.

Making headlines, Sydney Airport shares are up more than 2.8% today after the ACCC announced it will not oppose the proposed acquisition of Sydney Airport by the Sydney Aviation Alliance, a consortium of Australian and global funds. The announcement today also states that the European Commission has also approved the proposed acquisition of Sydney Airport under the EU Merger Regulation.

And there?s a Santa shortage in the US due to labour issues, with around 3000 positions available across the US to help , with pay increasing as much as 15% to 10,000 USD for the holiday season.