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ASX closed higher; Objective Corporation rallied on H1 trading update; Qantas shed 2% on flight capacity update

  • The ASX200 closed 0.48% higher at 7474.40 points on Thursday.
  • Objective Corporation popped 4.78% on half yearly results expectation.
  • Qantas shed 2% after announcing reduced Q3 flight capacity expectations.

The Australian market extended gains into afternoon trade to close 0.48% higher at 7474.40 points as the resources, metals and mining sectors surged on the key index.

The tech sector losses continued to grow in afternoon trade to close Thursday’s session more than 1% lower as Wisetech Global lost 2.68%, Tyro Payments fell 2.62% and EML Payments just under 2.5%,

Bitcoin is trading 2.16% higher over the last 24-hours at US$43,615.23 at 4:15pm AEDT.

Software production company Objective Corporation shares popped 4.78% today following the release of a trading update. The trading update outlined Objective Corporation’s expectations for H1FY22 results including a revenue increase to $52.7m and EBITDA of $15.1m. Annual Recurring Revenue (ARR) totalled $79.5m at December 31, 2021 which represents an increase of $9.4m from December 31, 2020.

Making headlines, Qantas shares fell 2% today after the national carrier announced that it is adjusting flight capacity in Q3 to better match travel demand as COVID-19 cases continue to surge on Australia’s east coast. Qantas said it now expects 70% of pre-COVID levels for FY22, down from the originally forecasted 102% for that period.

And Wendy’s has gone viral in the US for launching a #NAtionalRoastDay campaign where users ask Wendy’s to roast them including Mike’s Hard Lemonade which Wendy’s said was ‘Still the worst tasting yellow liquid’ in their roasting tweet response.

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