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ASX200 climbs; Zip rallies on Twisto Payments acquisition; Halo Food Co surges on Coles deal.

  • The ASX200 is trading 1.08% higher today at 7461.70 after lunchtime.
  • Zip Co rallies on completion of Twisto Payments acquisition.
  • Halo Food Co surges 7% after announcing a deal with Coles.

The Australian market is charging 1.08% higher today at 7461.70, breaking a four-day losing streak, as a surge for iron ore stocks boost the key index on the back of a rebound in the price of iron ore.

The tech sector has recovered from yesterday’s tumble to trade higher today led by Link Administration Holdings surging 3.47%, Codan trading 3.22% higher and Xero rallying 2.11%.

Bitcoin is trading 1.48% higher over the last 24-hours at 65,294.39 at 1:30pm AEDT.

Zip Co shares are rallying today after announcing it has completed the acquisition of European BNPL provider Twisto Payments. Zip completed the deal worth $115.8 million in shares today and said the acquisition provides Zip with access to one of the world’s largest ecommerce markets.

Making headlines, Halo Food Co is surging 7.4% today after announcing the securement of a contract with supermarket giant, Coles. Under the deal, Halo Food Co will begin stocking products in Coles from Q2 of 2022, with expectations to produce up to $3.3m of sales annually.

And Spotify is adding audiobooks to its platform after acquiring audiobook company Findaway, in another move to better compete with the likes of Apple.

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