The Australian market is trading sharply higher today boosted by strong gains for financials and materials stocks. Telstra shares are on the rise today after the telco giant announced a 5-year renewal of its contract with the Australian Department of Defence in a deal worth 1 billion dollars. Eclipx is rallying today after releasing its full year results for the 2021 financial year. Facebook is shutting down the use of facial recognition in its platform due to growing user concerns of privacy breaches from the technology.
VIDEO: Telstra rallies on 5-year Defence contract renewal.
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