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Sydney Airport jumped 3% after accepting takeover bid valuing the airport operator at $23.6bn.

ASX closed slightly lower; CBA rallied on H20.ai partnership; Sydney Airport accepted takeover bid.

The ASX200 closed 0.06% lower at 7452.20 points on Monday.

The Commonwealth Bank rallied on a new partnership with H20.ai.

Sydney Airport jumped 3% on acceptance of $8.25/share takeover.

The Australian market recovered some of the morning losses in afternoon trade to close Monday’s session just 4.7 points lower at 7452.20 as technology and healthcare stocks weighed down the ASX despite a surge in gold mining stocks.

The tech sector continued to fall in afternoon trade led by Xero tumbling 4.86%, Appen shedding 3.68% and EML Payments closing Monday’s session 3.41% lower.

Bitcoin is trading 5.35% higher over the last 24-hours at US$65,450.75 at 4:30pm AEDT.

The Commonwealth Bank of Australia rallied today after announcing a new partnership with leading AI platform H20.ai. Under the partnership, H20.ai will provide CBA with its technology and work to create new solutions for the bank that are faster and smarter than its rivals in areas like helping customers save money while shopping across different platforms like Klarna, CommBank Rewards and more.

Making headlines, Sydney Airport shares jumped nearly 3% today after the airport operator announced it has accepted the takeover offer of $8.25/share from a group of investors led by IFM Investors and Global Infrastructure Partners. The takeover offer values Sydney Airport at $23.6bn on an equity basis.

And a missing 16-year old has been found after she used hand signals that went viral on TikTok to signal to a passing driver that she was in danger in the US.

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