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Rhinoswab purchase order sends Rhinomed soaring!

The ASX200 closed 0.5% higher on Friday at 7406.60.
RESS took a hit following update on slow process of EQT takeover.
Rhinomed surged 20% on a new deal with the Victorian government.
The Australian market closed 0.5% higher on Friday at 7406.60 with all sectors besides healthcare stocks finishing the session in positive territory. The metals and mining sector was the best performer today. For the week the ASX fell 1.55%.

Tech stocks closed higher today boosted by Nuix climbing 3.89%, EML Payments adding 3.29% and Megaport finishing the day 2.95% higher.

Bitcoin is trading 0.82% higher in the last 24-hours at US$46,63077 at 4:15pm AEST.

Australian-based fintech company IRESS took a hit today after providing the market with an update on the EQT takeover bid. Management today announced that due diligence is taking longer than expected, with IRESS agreeing to grant EQT an additional 10 days to complete its due diligence and to finalise the deal.

Making headlines, Rhinomed shares surged 20% during today’s session after the medical device company announced a new deal. The Victorian Government has made an initial purchase order for 1 million of Rhinomed’s Rhinoswabs, a reportedly ‘more comfortable and easy to use’ nasal swab than the standard swab.

And Tesla Chief Executive Elon Musk has urged employees to ‘go super hardcore’ to make up for production issues from early in the third-quarter and ‘ensure a decent Q3 delivery number’ as competition in the EV sector globally intensifies.

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