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ASX closed red; Prophecy International Holdings soared 28%; Flight Centre tanked on new COVID-19 variant.

  • The ASX200 closed 1.73% lower on Friday at 7279.30 points.
  • Prophecy International Holdings soared 28% on significant growth.
  • Flight Centre fell 6.5% on the new COVID-19 variant out of South Africa.

The Australian market continued a freefall in afternoon trade to close Friday’s session 1.73% lower at 7279.30 as every sector except gold miners ended the day in negative territory, led by energy stocks plummeting 4.5%. For the week, the ASX lost 1.58%.

The tech sector lost ground in afternoon trade, ending the day more than 2.3% lower as Appen’s nosedive worsened to 18.3% while Nearmap, Technology One and Megaport each shed more than 3%.

Bitcoin is trading 1.01% higher over the last 24-hours at US$57,711.16 at 4:30pm AEDT.

Computer software applications company Prophecy International Holdings soared 28% today after reporting significant growth across its Snare and eMite product lines. Prophecy reported continued growth of eMite Annualised Recurring Revenue (ARR) to $10.5m while Snare’s ARR hit $4.1m. The company also signed new eMite customer contracts across multiple geographies with aggregate 1st year contract value of more than $3.4m.

Making headlines, Flight Centre shares were sold off today as investors digested the news of a new COVID-19 variant found in South Africa that is already spreading through Europe, Africa and southeast Asia. Just as international travel bans are lifted, the UK halted 6 flights from African nations today following the identification of B.1.1.529, the new COVID-19 variant with 22 cases already found in South Africa and 2 cases in Hong Kong.

And the NSW government is stepping up its digital identification game, by moving to develop a world-leading digital birth certificate, taking the concept to market in search of a developer to create the digital solution.

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