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Tyro Payments tanked 16% following the company’s AGM revealing no guidance for FY22.

ASX closed rallies; Tyro Payments tumbled 16% on AGM; Austral tanked on ASX debut

The ASX200 closed 0.93% higher at 7392.70 on Wednesday.

Tyro Payments tumbled 16% today on AGM and no guidance for FY22.

Austral Resources tanked 15% on its ASX debut following media reports.

The Australian market closed the midweek session 0.93% higher at 7392.70 as a surge in materials stocks led gains on the key index. For the session all sectors aside from gold miners and tech stocks finished the day in the green.

The tech sector overturned a morning rally to close lower on Wednesday as Tyro Payments tanked 16.50% to weigh down the sector despite strong gains for Altium, Technology One and Codan.

Bitcoin is trading 2.59% higher over the last 24-hours at US$62,999.65 at 4:20pm AEDT.

Tyro Payments tanked 16% today after the company’s Chairman David Thodey delivered the company’s AGM today including no guidance for FY22. Investors were spooked by the lingering lawsuit against the company regarding the outage in January, but Mr Thodey said 93% of claims relating to the company’s outage in January 21 have been settled, the company averaged 1200 new merchant applications per month for Q1, transaction value grew 25% to $8.97bn and online transaction value for the year topped %178.6m, up 1848%.

Making headlines, Austral Resources nosedived on its ASX debut today amid reports Nathan Tinkler, a former 551%-owner of Austral, plans to sue the company’s executive director Dan Jauncey. Following an IPO at 20 cents/share raising $30m, shares in Austral Resources tumbled as low as 15% during the session before closing down just 1.47% at $1.87/share.

And Boston Dynamics’ Spot the robot dog has found a new use in Australia in the form of detecting unsafe environments in construction and mine sites.

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