ASX closed lower; Zoom2u soared 26% on $880k acquisition deal; Vulcan Energy Resources soared 14% on VW deal.
- The ASX200 closed 0.28% lower on Thursday at 7384.50 points.
- Zoom2u soared 26% on acquisition of the Local Delivery Shopify App.
- Vulcan Energy Resources soared 14% on signing a deal with Volkswagen.
The Australian market overturned a mid-session rally to close 0.28% lower on Thursday at 7384.50 as a sell-off in energy stocks weighed down the key index.
The tech sector extended losses into afternoon trade to close the session just under 1% lower as Xero tumbled 3.21%, Codan lost 3.13% and Wisetech Global shed 2.89%.
Bitcoin is trading 1.34% lower over the last 24-hours at US$49,757.60 at 4:15pm AEDT.
Online courier delivery platform Zoom2u soared 26% during today’s session after announcing the acquisition of the Local Delivery Shopify App for $880,000 which will bring around 570 e-commerce businesses in over 45 countries into the Zoom2u company. The acquisition will expand Zoom2u’s presence into North America and the UK.
Making headlines, Vulcan Energy Resources surged 14.40% today after announcing it has signed a binding lithium hydroxide offtake agreement with the world’s largest automaker, the Volkswagen Group. Under the deal, from 2026 Volkswagen will purchase a minimum of 34,000 tonnes and a maximum of 42,000 tonnes of battery grade lithium hydroxide over a 5-year term.
And world’s first fully-autonomous coffee barista Ella is ready to make users their long-blacks, iced-lattes or any coffee order after being launched in Singapore by Techman Robot.
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