ASX200 dips; Corporate Travel Management announces strategic acquisition; BNK Banking Corp. soars 16% on sale of Finsure.
- The ASX200 is trading 0.65% lower after lunchtime at 7330.4 points.
- Corporate Travel Management announced Helloworld Travel corporate business acquisition.
- BNK Banking Corporation soars 16% on Finsure sale to MA Financial.
The Australian market’s losses have extended into Wednesday as the key index trades 0.65% lower at 7330.40 after lunchtime, weighed down by a sharp sell off in tech stocks.
The tech sector tumble follows a turbulent session for the Nasdaq on Wall St overnight, with Megaport’s 5.33% dive leading the sector lower, followed by Codan down 4.5% and EML Payments trading 3.57% lower.
Bitcoin is trading 2.13% higher over the last 24-hours at US$47,910.59 at 1:15pm AEDT.
Corporate Travel Management (CTM) entered a trading halt today to announce it has entered into a binding agreement to acquire 100% of Helloworld Travel Ltd’s Corporate and Entertainment travel business in Australia and New Zealand for an enterprise value of $175m. The acquisition is highly complementary to CTM’s existing Australian and New Zealand corporate travel management operations, and adds industry verticals which are expected to perform strongly amid the COVID-19 recovery, according to CTM.
Making headlines, BNK Banking Corporate shares are rocketing almost 17% today so far after the financial services provider announced it has entered into a binding agreement to sell 100% of its mortgage broker network Finsure to MA Financial for $145m. Finsure is a leading Australian mortgage aggregator with a lending portfolio of $60.8bn, focused on the home lending market.
And just a short time after Pony.ai was granted a licence to test its fully-autonomous, driverless vehicles in California, the Department of Motor Vehicles has moved to suspend the company’s testing permit after one of the vehicles crashed into a centre divider containing a traffic sign.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this
48% of businesses say they will not raise prices, primarily due to the desire to...read more
Of the smaller cryptos, these ones were the movers. Mirrored iShares Gold Trust rose 353.48%...read more
Of the middle-sized cryptos, these ones were the movers. Metacraft rose 66.39% to US$1.31, closing...read more