- The ASX200 is trading 0.51% higher at 7524.10 after lunchtime.
- TechnologyOne hit a fresh record share price on UK-based acquisition.
- Facebook launches Facebook Pay to trial in Australia.
The Australian market is trading 0.51% higher at 7524.10 after lunchtime as the materials, metals and mining stocks lead gains on the key index.
The tech sector is the only sector trading in negative territory today as Afterpay sheds more than 3% while Wisetech Global is trading 1.04% lower.
Bitcoin is trading 1.27% lower over the last 24-hours at US$48,982.03 at 1pm AEST.
SaaS tech company TechnologyOne rallied to a fresh record high share price of $10.43/share after announcing it has entered into an agreement for the acquisition of Scientia Resource Management, a UK-based company servicing the education sector. The acquisition is set to be worth an estimated 12 million pounds, with Scientia Resource Management saying the acquisition helps expansion in the Higher Education sector.
Making headlines, social media giant Facebook has launched a trial of its Facebook Pay product in Australia allowing users to add a bank card to their Facebook account to pay merchants or friends within Facebook owned apps like Instagram. The Facebook Pay business has the potential to compete with the Afterpay Square Cash App.
And Uber has pledged a donation of US$1m to help Afghan refugees, as well as matching in-app donations from users to help the embattled nation and those forced to flee when the Taliban took over last week.