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Immuron skyrocketed 19% on potential COVID-19 prevention/treatment drug.

ASX closed green; EML Payments tumbled 15%; Immuron surged 15% on COVID-19 drug test results

The ASX200 closed 0.87% higher on Friday at 7320.10 points.

EML Payments nosedived 15% following Central Bank of Ireland update.

Immuron rose 15% on IMM124E drug tested to prevent/treat COVID-19.

The Australian market closed Friday’s session 0.87% higher at 7320.10 points as a surge in metals and mining stocks boosted the key index. For the week, the ASX gained 1.87%.

The tech sector’s surge continued in afternoon trade, finishing the session more than 1% higher as a rally for IRESS, Technology One and Nearmap offset EML Payments’ more than 14% plummet.

Bitcoin is trading 1.58% lower over the last 24-hours at US$53,822.57 at 4:30pm AEDT.

EML Payments nosedived 15% today after the digital banking and payments services provider shared an update relating to the Central Bank of Ireland (CBI). The regulatory update outlined that CBI is planning to take action against EML Payments’ recently acquired Ireland-based business, Prepaid Financial Services (PFS), with EML management saying the potential action from CBI could ‘materially impact the European operations of the PFS business’.

Making headlines, Australian-based biotech company Immuron skyrocketed 19% today after researchers from the Hebrew University’s Hadassah Medical Centre tested its IMM124E drug for potential prevention and treatment of COVID-19. The results found the drug might boost antiviral immunity across certain viral strains. The company also filed for an international patent to protect its IMM124E drug today.

And Amazon has opened its first non-food retail store outside the US, at a shopping centre in Kent in the UK, where shoppers can buy any of 2000 products rated 4-stars and above on Amazon’s website through the bricks-and-mortar store.

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