- The ASX200 is trading 0.24% higher at 7386.90 after lunch.
- Zip Co rallies despite wary brokers cautious of Quadpay rebranding.
- Santos surges on signing of Oil Search merger worth around $8.43bn.
The Australian market has rebounded in Friday?s session so far, trading 0.24% higher after lunch at 7386.90 as the resources, and metals and mining sectors lead gains on the key index.
The tech sector is following the market higher today, fuelled into positive territory by strong gains for Wisetech Global, Xero and EML Payments.
Bitcoin is trading 1.53% higher over the last 24-hours at US$46,623.89 at 1:15pm AEST.
Zip Co shares are rallying today despite cautions being issued by Citi and other leading brokers around Zip?s rebranding of its US Quadpay business to one unified Zip brand, as the Zip relies heavily on Quadpay?s operations for income generation. Citi?s latest analysis on Zip said website visits sharply declined since the Quadpay rebranding in August.
Making headlines, Santos is on the rise today after the Australian-energy company inked its merger deal with Oil Search. Under the merger deal, Oil Search investors will receive 0.6725 Santos shares for each Oil Search share they own. Once the merger is completed, Oil Search shareholders will own around 38% of the company while Santos? shareholders will own around 62%.
And Twitter has launched a new feature allowing non-human ?bot? accounts like those that share vaccination updates, materials from public museums and more to label themselves as ?good bots? to enhance transparency.