- The ASX200 is trading 0.73% higher at 7259.30 after lunchtime.
- intelliHR soars 9% on record quarterly revenue & market expansion.
- Australian Pharmaceutical Industries rallies on Wesfarmers stake.
The Australian market is trading 0.73% higher at 7259.30 after lunchtime, following Wall St?s overnight lead as tech stocks rally to lead gains on the key index.
The tech stock surge is driven by Megaport rallying 4.04%, while Wisetech Global, EML Payments and Codan each trade more than 3.2% higher.
Bitcoin is trading 7.65% higher over the last 24-hours at US$55,133 at 1:30pm AEDT.
Australian-based online HR provider intelliHR is soaring more than 9% today after announcing record quarterly revenue and a breakthrough into a new enterprise market. For Q1 of the 2022 financial year, intelliHR reported over $1m in revenue up, 95% YoY, and won its first customer in the enterprise hotel and tourism market.
Making headlines, Australian Pharmaceutical Industries is rallying today after Wesfarmers confirmed it has acquired nearly one fifth of the company?s shares, or a 19.3% stake in the company. Wesfarmers is still pursuing a 100% acquisition of API at $1.55/share, but has settled with a 19.3% stake until API?s largest shareholder Washington H. Soul Pattinson and Co. agrees to the takeover.
And Hyundai has recalled over 460,000 Sonata sedans due to the indicators operating backwards.