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Xero Broker note

ASX closed higher; Xero rallied on broker note; Qantas dipped on Rex comments

  • ASX200 closed 0.11% higher at a fresh record 7511.10.
  • Xero rallied on positive broker note following App store launch.
  • Qantas shares dipped on Rex deputy chair questioning stand down.

The Australian market closed at another fresh record high on Thursday, gaining 0.11% to finish the session at 7511.10, boosted by strong gains on the real estate sector.

The tech sector closed in the green on Thursday as Nuix surged 2.75%, Xero added 2.21% and IRESS closed the session 1.15% higher.
Bitcoin continues to trade at US$39,168.65 at 4:30pm, up 3.28% in the last 24-hours.

Cloud-based accounting software company Xero rallied today following a positive broker note from Goldman Sachs. After the launch of Xero App Store in the ANZ and UK markets, Goldman Sachs retained its buy rating and set a price target of $165/share on Xero shares.

Making headlines, Qantas shares dipped again today as the deputy chair of rival Rex airlines questioned the national carrier’s move to stand down a further 2500 workers this week. John Sharp said he was surprised to see Qantas stand down staff before the federal government released details of its airline support package.

And Seth Rogen has taken to Twitter assuring fans he has not been kidnapped after a song went viral on TikTok suggesting the comedian had been taken.

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