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ASX closed green; Nuix tumbled 12.5% on a trading update; Biome Australia struggled on its ASX debut.

  • The ASX200 closed 0.22% higher on Tuesday at 7256 points.
  • Nuix tumbled 12.5% on a trading update including cost base increasing.
  • Biome Australia struggled on its ASX debut, shares fell 42.5%.

The Australian market closed 0.22% higher on Tuesday at 7256 points as communications services stocks led gains on the key index.

The tech sector ended the day more than 1% higher as EML Payments jumped just under 5%, Appen added 4.3% and Technology One closed the session almost 3.5% higher.

Bitcoin is trading 0.06% lower over the last 24-hours at US$57,285.50 at 4:05pm AEDT.

Shares in Nuix fell 12.50% today after releasing a trading update at its AGM. Nuix announced the re-signing of a major advisory contract on a multi-year consumption licence, achieved other multi-year deals with existing customers and a rise in consumption (including SaaS) licences, and revenue increased 10%. Despite the positive reports, Nuix revealed annual contract value is flat YoY, and its cost base has increased.

Making headlines, Australian-based biotherapeutics producer Biome Australia struggled on its ASX debut today. Following an IPO at $0.20/share raising $8 million through an oversubscribed IPO, shares in Biome Australia fell 42.5% to a low $0.115 per share.

And a developer in England has created a realistic robot called Ai-Da that is able to write poetry and create artworks as part of her in-built algorithms.

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