- The ASX200 is trading 0.51% lower at 7422 on Friday.
- Zoom2u shares soar 267% in the first week of trading since IPO.
- JB Hi-Fi rallies following release of annual report with positivity for FY22.
The Australian market is trading 0.51% lower today at 7422 after lunch as the materials, metals and mining sectors tumble following the drop in price of iron ore below US$110/tonne.
Tech stocks are trading more than 1% higher today as strong gains for Afterpay, Wisetech Global, Megaport and Xero offset a more than 10% loss for Iress. Iress? loss follows EQT withdrawing its takeover bid of the tech company.
Bitcoin is trading 0.33% lower over the last 24-hours at US$47,782.27 at 1pm AEST.
Australian-based recent ASX debutant Zoom2u has soared 267% since its IPO last week, with investors taking some profits today. The delivery tech platform received an extra boost yesterday after announcing the signing of its first enterprise customer for its Locate2u platform being Amart Furniture for a 24-month term.
Making headlines, JB Hi-Fi shares are rallying today following the release of the retail tech company?s annual report outlining the chair and CEO?s positivity toward FY22 despite ongoing uncertainty. The company noted record profits over the FY21 were achieved alongside growing demand, all among continued uncertainty in the global retail economy.
And Southwest Airlines is offering staff 16 hours of extra pay as an incentive for employees to get vaccinated.