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The future of Noni B, Katies and Crossroads looks bright as Mosaic Brands raise capital

  • The ASX200 closed 0.02% higher at 7530.30 on Tuesday.
  • AnteoTech skyrocketed 25% after announcing a new distribution deal.
  • Mosaic Brands soared almost 16% on a $32m capital raise.

The Australian market again overturned morning losses on Tuesday to close the session 0.02% higher at 7530.30 as a rally for communications services stocks boosted the key index alongside the RBA maintaining interest rates at a record low 0.1% for September.

Investors were caught off guard by the RBA proceeding with its decision to taper back its bond buying program from $5bn/week to $4bn/week, but will delay the end of the entire package until at least February as the Delta COVID-19 outbreak continues to spread.

The tech sector followed the overall market lead to close Tuesday’s session marginally higher, boosted by an afternoon surge for Technology One and Megaport.

Bitcoin is trading relatively flat this afternoon, up just 0.94% in the last 24-hours at US$52,363.24 at 5:45pm AEST.

Australian-based patented healthcare tech company AnteoTech rallied today after the company announced it has signed a distribution agreement with Pera Medikal Anonim Sirketi in Turkey. Under the deal, the Turkish company will distribute AnteoTech’s EuGeni Reader platform and SARS-CoV-2 Antigen Rapid Diagnostic Test in the country.

Making headlines, investors piled into Mosaic brands today as the fashion retailer group announced an underwritten $32m capital raise via the issue of convertible notes. The funds raised will be used to add support on the Mosaic Brands balance sheet as many of the company’s different fashion stores remain closed amid lockdowns on the east coast.

And Toyota has announced it will spend an estimated $13.5bn by 2030 to develop its own battery and battery supply system for electric vehicles in a bid to lead the automotive industry shift into the EV space for the next 10-years.

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