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ASX200 falls; AnteoTech soars 18% on RAT test reports; Zenith Minerals skyrockets 22% on a new lithium joint venture

  • The ASX200 is trading 0.97% lower at 7401.60 after lunchtime.
  • AnteoTech soars 18% on reports of RAT test production ramp up soon.
  • Zenith Minerals skyrockets 22% after signing a major new joint venture.

The Australian market is following Wall Street’s lead today, trading just under 1% lower after lunchtime at 7401.60 as investors sell-out of tech stocks on the local market today.

New job ads data out today showed employment opportunities advertised on Seek fell 3.2% in December, marking the first fall after three months of strong gains amid lockdowns ending on the east coast.

The tech sector is taking lead from the Nasdaq’s turbulent session on Wall St overnight, with the sector down almost 4% after lunchtime. Afterpay leads losses on the sector, currently down 9.15%, while Xero has lost 4.52% and Appen is trading 3.85% lower.

Bitcoin is trading 2.01% lower over the last 24-hours at US$42,692.23 at 1:30pm AEDT.

Medical device technology company AnteoTech is soaring more than 17% today following reports that the company is ready to ramp up production of its rapid antigen test (RAT) as soon as the TGA approves it for use in Australia. AnteoTech CEO Derek Thompson told the ABC that the company had put in an order for equipment that could produce 12 million RAT strips annually in Australia, with expectations of production to start in Q2 FY22.

Making headlines, Zenith Minerals skyrocketed to a record high share price of $0.41/share in morning trade after the mining company announced a major new lithium joint venture with leading battery chemicals and technology company, EV Metals Group, to explore lithium from Zenith’s WA projects. Under the agreement, EV Metals Group will spend a minimum of $7m on exploration activities on the projects over a 24-month period.

And Nuro has unveiled its latest electric four-wheeled autonomous grocery delivery robot that can transport nearly 500 pounds of groceries with embedded cooling and heating systems, and travels on sidewalks to deliver the goods.

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