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Three big movers on the ASX; Audinate rallied 4.4% on completion of Silex Insight video business acquisition

The Australian market rallied just under 0.5% on Tuesday at 7006 points as a rebound in tech stocks led gains on the key index.

The RBA has held interest rates at a record low 0.1% for February, at the same rate now since November 2020. The RBA did however today announce that it will stop further bond buying after its final purchases on February 10, formally ending its quantitative easing program as inflation rises faster than expected.

Also out today, Australia’s retail trade data for December showed a 4.4% decline from November to $32bn.

The stocks that made headlines today were:
Audinate rallied almost 4.4% today after the digital audio networking company announced the completion of the acquisition of the video business of Silex Insight based in Belgium. The acquisition allows audinate to accelerate its strategic vision for integrated audio and video over IP.

Credit Corp Group added 2.86% on the back of releasing half year results including an 8% increase in first half revenue, and net profit after tax of 45.7 million dollars which beat analysts expectations.

ResApp lifted 4% during Tuesday’s session after announcing that the China National Intellectual Property Administration has accepted the company’s patent application for ‘cough sound-based audio processing pipeline for diagnosing respiratory disease’, which is owned by the University of Queensland and will be licenced exclusively to ResApp for the lifetime of the patent.

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