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a2 Milk tanked on a fresh lawsuit from Slater & Gordon today.

ASX closed red; Aerometrex surged 8% on $250,000 order; a2 Milk tanked on a fresh lawsuit

  • The ASX200 closed 0.58% lower on Wednesday at 7206.50.
  • Aerometrex surged 8% on a $250,000 order for 3D San Francisco data.
  • a2 Milk tanked after Slater & Gordon launched a lawsuit against a2.

The Australian market closed the midweek session 0.58% lower at 7206.50 points as consumer discretionary and financials stocks led losses on the key index following the RBNZ’s first rate hike in 7-years weighing on consumer sentiment across the broader market.

The big banks tanked today after APRA tightened its lending rules and home loan requirements by reducing a typical borrower’s maximum borrowing capacity by around 5%.

The tech sector maintained momentum to close higher today as Afterpay rallied more than 3%, Technology One added 1.5% and Appen closed the day more than 1% higher.

Bitcoin is trading 4.58% higher over the last 24-hours at US$51,588.70 at 4:30pm AEDT.

Australian-based geospatial tech company Aerometrex surged 8.7% today after announcing its 3D model of San Francisco will be used to create a metaverse. Terrestrial Software Development bought Aereometrex’s San Francisco high-resolution 3D data licence for $250,000, to be used to create Lunaverse. The order follow’s Google parent Alphabets’ recent order for Aerometrex’s 3D San Francisco model.

Making headlines, a2 Milk tanked 6.5% on Wednesday after the premium dairy and baby formula company was hit with a class action by Slater & Gordon Law Firm. The lawsuit alleges that a2 Milk was or should have been ‘aware that its FY 2021 guidance and subsequent representations did not adequately take account of a number of factors that would impact the Company’s financial performance’.

And health insurer nib has launched ‘voicebot’ called ‘nibby’ as the first point of contact for any customers calling into the health insurer with questions or issues in a bid to enhance operational efficiency.

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