- The ASX200 is trading 0.86% higher at 7386.70 after lunchtime.
- Seven West Media surges 10% on Prime Media Group acquisition.
- Step One skyrockets 73% on ASX debut following IPO raising $81.3m.
The Australian market has started the week and month in positive territory, trading 0.86% higher at 7386.70 boosted by strong gains for consumer discretionary and communication services stocks as international borders open on the east coast for the first time since the pandemic began.
The tech sector is rallying more than 1.5% today led by Codan surging 4.88% after its shares tanked last week, Wisetech Global adding 3.84% and Xero trading 3.62% higher.
Bitcoin is trading 2.77% lower over the last 24-hours at US$60,413.30 at 1:30pm AEDT just days after the Australian Securities and Investments Commission (ASIC) gave crypto-related exchange traded products the green light to commence trading under a set of guidelines and requirements.
Seven West Media shares are surging 10% today after the Australian media company announced it is acquiring Prime Media Group. Under the deal, Seven West will pay around $131.9m for Prime Media Group in a bid to expand Seven?s reach to around 90% of the Australian population each month as Prime Media is a regional network across the country.
Making headlines, underwear retailer Step One is skyrocketing on ASX debut today. Following an IPO at $1.53/share raising $81.3m, shares in the retailer soared 73% to $2.65/share, with some of the funds raised at IPO to be used toward the company?s US market entry.
And German-based app, M-Sense Migraine by Newsenselab, has gone viral with a LinkedIn post calling out social media giant Meta, formerly known as Facebook, for the strikingly similar logo Meta has launched with, that is almost a direct copy of the M-Sense logo.