- The ASX200 is trading 0.4% lower today at 7341 after lunchtime.
- Telstra shares rise on $110m purchase of Vita Group?s ICT retail business.
- Dimerix rallies 9% on Indian approval of DMX-200 for COVID-19 patients.
The Australian market has pulled back from three-days of gains to trade 0.4% lower at 7341 on Friday as gold miners lead losses on the key index. The energy sector is rallying again today as the price of Brent crude nears a three-year high.
The tech sector is trading relatively flat today as a near 6% surge for Computershare is offset by losses for Xero and Wisetech Global.
Bitcoin is trading 1.85% higher over the last 24-hours at US$44,493.13 at 1pm AEST.
Investors are buying into Telstra shares today after the telco giant announced it has reached an agreement with Vita Group to buy the information and communication technology retail business for $110m. Telstra intends to transition Vita Group?s Telstra branded retail store network into Telstra?s ownership and will take over the employment relationship with the majority of staff at stores and in the support team.
Making headlines, Dimerix shares are climbing today after the biopharmaceutical company announced that India?s Central Drugs Standard Control Organisation has formally recommended approval of the company?s DMX-200 clinical study in COVID-19 patients. DMX-200 is the lead drug of Dimerix and is designed to treat respiratory problems relating to COVID-19 and diabetic kidney disease.
And the latest food to go plant-based is Pork, as the Impossible brand?s plant-based pork is being made available in restaurants across the US and Hong Kong from October 4.