Treasury Wine Estates is rallying after announcing the acquisition of Frank Family Vineyards in the US for US$315 million.
ASX200 climbs; Altium lifts on AGM update; Treasury Wine Estates rallies on US acquisition.
The ASX200 is trading 6.8 points higher at 7376.70 points.
Altium lifts on AGM update including being on track to achieve FY22 guidance.
Treasury Wine Estates rallies on Frank Family Vineyards acquisition.
The Australian market is trading just 6.8 points higher today at 7376.70 after lunchtime as a rally for gold mining stocks offsets losses among energy stocks as the price of oil dipped overnight.
The tech sector is rallying again today as Altium leads gains up 3.65%, while Appen jumps 2.51% and Computershare is trading 1.84% higher.
Bitcoin has tumbled 1.50% over the last 24-hours to trade at US$60,525.48 at 1:30pm AEDT.
Altium shares are lifting today as investors respond to the electronic design software company’s AGM update. CEO Aram Mirkazemi revealed the company is back on track and in-form to achieve guidance in FY22 of 16-20% revenue growth driven by the 5G, edge computing trend and mass adoption of intelligent products.
Making headlines, shares in Treasury Wine Estates are popping almost 3% today after the global winemaking and distribution business announced the acquisition of Frank Family Vineyards in the US for US$315m. The acquisition will fill a key portfolio gap for Treasury Americas in the luxury chardonnay sector, as well as expanding Treasury’s overall US market presence.
And researchers at the University of Glasgow have built a device allowing dogs to video call their owners by moving a small ball fitted with a sensor to initiate the video call via a laptop nearby, with the owner able to also initiate the call from their video device to the laptop at home.
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