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Netwealth & HUB24 surged after releasing Q1 results.

ASX closed higher; Netwealth surged 15% on Q1 results; HUB24 hit a fresh record high share price

The ASX200 closed 0.54% higher on Thursday at 7311.70.

Netwealth surged 15% on record Q1 results & upgraded its guidance.

HUB24 shares hit a record high today after releasing record Q1 results.

The Australian market’s losing run has come to an end on Thursday with the key index closing the session 0.5% higher at 7311.70 driven by a more than 4% surge for the tech sector.

Australia’s unemployment rate rose 0.1% to 4.6% in September as the delta COVID-19 outbreak kept NSW and VIC in hard lockdowns.

Wisetech Global soaring more than 7% today led the tech sector gains, followed by Megaport jumping 6.82% and Appen finishing the session 6.15% higher.

Bitcoin is trading 4.11% higher over the last 24-hours at US$57,981.10 at 4:30pm AEDT.

Fintech wealth management company Netwealth surged 15.61% today after releasing its first quarter update. For the three months ended 30 September, Netwealth reported record net inflows of $4bn, taking the total Funds Under Administration (FUA) to $52bn, an increase of 10.2% for the quarter. The company also increased its FUA net inflow guidance for FY22 from $10bn to around $12.5bn.

Making headlines, HUB24 shares hit a record high during today’s session of $31.83/share after the investment platform released an impressive quarterly update. For the three months ended September 30 HUB24 reported platform FUA up 139% YoY to $45.4bn and record net inflows of $3bn for the quarter.

And Star Trek actor William Shatner has become the oldest person to enter space after the 90 year-old was part of the crew on board the Blue Origin spacecraft that launched yesterday.

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