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MoneyMe surged 10% on record Q1 results.

ASX closed higher; MoneyMe surged on Q1 results; DGL rallied on Shackell Transport acquisition

The ASX200 closed Monday’s session 0.26% higher at 7381.10 points.

MoneyMe rose 10% on record Q1 FY22 results including $23m revenue.

DGL rallied 1% on fleet expansion through Shackell Transport acquisition.

The Australian market had a green start to the week, closing Monday’s session up 0.26% at 7381.10 driven by a surge in resources and financials stocks. The ASX closed higher despite bond yields rising following New Zealand’s Q3 CPI report showing inflation across the ditch surging 2.2% at its fastest pace in over a decade.

The tech sector losses extended into afternoon trade led by EML Payments tumbling 3.8%, Wisetech Global shedding 3.1% and Xero finishing the session 2.2% lower.

Bitcoin is trading 2.40% higher over the last 24-hours at US$62,265.58 at 4:30pm AEDT.

Australian-based digital customer lending platform MoneyMe surged as much as 10% today before closing the session up 4% following the release of Q1 FY22 results. For the three months ended 30 September, MoneyMe reported record quarterly revenue of $23m, the company surpassed $1bn in originations since inception in 2013, and originations of $173m for the quarter, up 283% on the prior corresponding quarter.

Making headlines, chemical manufacturing, warehousing and distribution company DGL rallied 1% today after announcing its inter-state fleet expansion through the acquisition of Shackell Transport for $8.9m; $7.8m in cash and the issue of 506,912 full paid ordinary shares in the capital of DGL. The acquisition of Shackell will see 71 vehicles added to the DGL group and expands the service and capabilities DGL is able to offer customers.

And Facebook has announced it will create 10,000 jobs in the EU to help build the Metaverse, a virtual reality version of the internet that the social media giant sees as the future of tech.

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