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ASX200 climbs; Altium lifts on AGM update; Treasury Wine Estates rallies on US acquisition.

  • The ASX200 is trading 6.8 points higher at 7376.70 points.
  • Altium lifts on AGM update including being on track to achieve FY22 guidance.
  • Treasury Wine Estates rallies on Frank Family Vineyards acquisition.

The Australian market is trading just 6.8 points higher today at 7376.70 after lunchtime as a rally for gold mining stocks offsets losses among energy stocks as the price of oil dipped overnight.

The tech sector is rallying again today as Altium leads gains up 3.65%, while Appen jumps 2.51% and Computershare is trading 1.84% higher.

Bitcoin has tumbled 1.50% over the last 24-hours to trade at US$60,525.48 at 1:30pm AEDT.

Altium shares are lifting today as investors respond to the electronic design software company’s AGM update. CEO Aram Mirkazemi revealed the company is back on track and in-form to achieve guidance in FY22 of 16-20% revenue growth driven by the 5G, edge computing trend and mass adoption of intelligent products.

Making headlines, shares in Treasury Wine Estates are popping almost 3% today after the global winemaking and distribution business announced the acquisition of Frank Family Vineyards in the US for US$315m. The acquisition will fill a key portfolio gap for Treasury Americas in the luxury chardonnay sector, as well as expanding Treasury’s overall US market presence.

And researchers at the University of Glasgow have built a device allowing dogs to video call their owners by moving a small ball fitted with a sensor to initiate the video call via a laptop nearby, with the owner able to also initiate the call from their video device to the laptop at home.

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