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ASX closed higher; Alcidion launched a $55m capital raise for acquisition; Westpac rallied on MoneyBrilliant acquisition.

  • The ASX200 closed 0.95% higher at 7313.90 points on Tuesday.
  • Alcidion entered a trading halt to raise $55m capital for Silverlink acquisition.
  • Westpac rallies after acquiring MoneyBrilliant from AMP.

The Australian market extended its green run into Tuesday, closing the session 0.95% higher at 7313.90 after the Reserve Bank maintained the record low interest rate of 0.1% for another month and will continue to purchase government securities at the rate of $4bn a week until at least February 2022.

The tech sector ended Tuesday’s session just under 2% higher as Codan, Nearmap and Tyro Payments each rallied over 5%.

Bitcoin is trading 4.49% higher over the last 24-hours at US$51.184.05 at 4:15pm AEDT.

Healthcare software solutions provider Alcidion entered a trading halt today to raise $55m via the issue of approximately 220 million fully paid ordinary shares, to complete the acquisition of UK patient administration software (PAS) company, Silverlink. The acquisition will expand Alcidion’s capability into PAS and is Alcidion’s second UK-based acquisition in the last nine months.

Making headlines, Westpac shares rallied today after the banking giant announced it has reached an agreement with AMP to acquire AMP’s personal finance management platform, MoneyBrilliant. Chief Executive of consumer and business banking at Westpac, Chris de Bruin, said the acquisition is an ‘important step in Westpac’s digital strategy’.

And DoorDash has launched a new ‘ultrafast’ grocery delivery service which promises to deliver goods within 15 minutes or less from a new DashMart location in New York City’s Chelsea neighbourhood.

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