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ASX closed green; My Foodie Box soared on ASX debut; Wesfarmers rallied on Woolworths withdrawal.

  • The ASX200 closed 1.29% higher at 7453.30 points on Friday.
  • My Foodie Box soared on its ASX debut following an IPO raising $6m.
  • Wesfarmers shares rallied on Woolworths withdrawing API takeover offer.

The Australian market rebounded from Thursday’s tumble to close Friday’s session 1.29% higher at 7453.30 points as every sector aside from the gold miners ended the day in positive territory, led by energy stocks surging 2%. For the week, the ASX is virtually unchanged.

The tech sector managed a more than 1% gain on Friday as Afterpay rallied 3.05% while Wisetech Global added 3% and EML Payments jumped 2.91%.

Bitcoin is trading 2.90% lower over the last 24-hours at US$41,857.43 at 4:30pm AEDT.

Meal kit home delivery service company My Foodie Box skyrocketed more than 22% on its ASX debut today as the fresh food and meal kit delivery market booms. Following an IPO at $0.2/share raising $6m, My Foodie Box jumped as high as $0.265/share before closing its debut session at $0.245/share.

Making headlines, Wesfarmers shares rallied today after Woolworths pulled out of the running to takeover API. Woolies offered $872m for API’s takeover in December which was around $1.75/share, higher than the offer by Wesfarmers’ for $1.55/share. Wesfarmers, which already owns 20% of API, is progressing talks to buy all shares in API without the competition of Woolworths.

And Hyundai has announced it is shutting down the new engine development department as the automaker prepares to kill off petrol cars in favour of an all-electric future.

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