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EML Payments skyrockets 28% on Central Bank of Ireland update.

ASX200 dips; EML Payments skyrockets 26% on CBI update; Adairs rallies on Focus acquisition.

The ASX200 is trading 0.11% lower at 7391.40 after lunchtime.

EML Payments skyrockets 26% on Central Bank of Ireland update.

Adairs rallies 5% on Focus on Furniture acquisition for $80 million.

The Australian market is see-sawing again today, trading 0.11% lower at 7391.40 after lunchtime as energy and consumer staples stocks weigh down the ASX.

The tech sector is surging today, up just under 2% after lunchtime driven by EML Payments skyrocketing 28%, Afterpay adding 3.4% and Technology One trading 3.4% higher.

Bitcoin is trading 2% higher over the last 24-hours at US$57,591.77 at 1:30pm AEDT as Award-winning, Australian-based gin distillery, Wandering Distillery announced it has begun accepting Bitcoin and Ethereum cryptocurrencies as payment for gin.

Payment card technology solutions company EML Payments is skyrocketing 28% today so far following an update from the Central Bank of Ireland (CBI) regarding an investigation into PFS Card Services (Ireland), a subsidiary of EML Payments. The update from the CBI advised that it will now allow PFS Card Services to sign new customers and launch new programs, removing any concerns of inability to grow for EML Payments’ that its subsidiary.

Making headlines, Adairs is rallying today after announcing the acquisition of Focus on Furniture for $80 million. The acquisition presents growth opportunities for Adairs through Focus’ 23 retail stores and growing online channel, in addition to a solid sales and profit track record for Focus on Furniture year-over-year, including sales growth of 52% in FY21.

And Spotify is the latest audio platform to jump on the TikTok-style vertical-video trend, by testing a new feature called ‘Discover’ that produces a feed of vertical music videos within the Spotify app.

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