- The ASX200 is trading 0.8% higher at 7433.90 after lunchtime.
- Kogan.com shares soar 7.5% after releasing Q1 trading update.
- Flight Centre hit by Q1 update as lockdowns impact net cash position.
The Australian market is trading 0.8% higher today at 7433.90 after lunchtime as all sectors besides energy stocks trade in positive territory, led by a surge in tech stocks.
The tech sector rally is driven by Codan surging 5.17%, while Nearmap trades 3.33% higher, Wisetech Global adds 2.59% and Megaport is up 2.43%.
Bitcoin is trading 3.25% higher over the last 24-hours at US$63,881.50 at 1:15pm AEDT.
Kogan.com is soaring 7.5% today after releasing its first quarter trading update showing strong growth. For the three months ended September 30, Kogan.com reported gross sales growth of 21.1% YoY to $330.5m, active customer growth of 30.7% YoY to 3,351,000 and gross profit grew 31.6% QoQ to $52.5m.
Making headlines, Flight Centre shares are taking a hit today after the travel agent also released a first quarter trading update that disappointed investors. For the month of September Flight Centre reported corporate sales were at 41% of pre-COVID levels, quarterly sales hit almost $1.6bn in total transaction value, an 8% increase on Q4, but the net operating cash outflow was $41m for the period due to lockdowns in the Anz region and decreased revenue.
And a viral tweet by YouTuber ?Mac Does It? asking what the correct pronunciation of global leading homewares giant IKEA has led to the company clarifying the correct pronunciation as EE-KAY-UH not EYE-KEY-UH.