Tech stocks slide: ASX closed 1.7% lower

Market Reports

by Rachael Jones

The Australian share market closed 1.7 per cent lower. Shares in Blackmores (ASX:BKL) did well after reports they are set to divest - more on this later. Shares in Boral (ASX:BLD) rose today after they announced they will sell its Australian plasterboard venture. As for the sectors today, all were in the red with Infotech not faring so well – Zip (ASX:Z1P) shares were down as were shares in Afterpay (ASX:APT).

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 105 points down to finish at 6,051.

Futures market

Dow futures are suggesting a rise of 55 points.
S&P 500 futures are eyeing a lift of 8 points.
The Nasdaq futures are eyeing a rise of 20 points.
And the ASX200 futures are eyeing a 106 point fall for tomorrow morning.

Company news

Atomo Diagnostics (ASX:AT1) is pleased to announce that the Therapeutic Goods Administration (TGA) has approved its rapid SARS-CoV-2 antigen blood test for use by medical professionals in Australia. Atomo can start to supply of the test to departments of health, laboratories, medical practitioners and health care professionals in aged care facilities in Australia. The Atomo Covid-19 rapid antigen test is a nasopharyngeal swab test designed to screen for antigens produced in response to Covid-19 infections. Shares in Atomo Diagnostics (ASX:AT1) closed 12.9 per cent higher at $0.35.

Blackmores (ASX:BKL) is set to divest Global Therapeutics to McPherson’s. In the transaction worth $27 million at the enterprise value, Global Therapeutics includes the Fusion Health and Oriental Botanicals brands.

Bravura Solutions (ASX:BVS) has signed a long-term contract with Aware Super for the implementation of an ecosystem of Bravura products, underpinned by Sonata Alta.

Boral (ASX:BLD) has entered into an agreement with Gebr Knauf KG to sell Boral’s 50 per cent interest in USG Boral for $1.43 billion. Profit on sale before tax $540 million, subject to working capital adjustments and foreign exchange.


Credit Clear Limited (ASX:CCR) started trading today, a fintech operating across Australia that specialises in receivables management solutions. Issued at $0.35, started trading at $0.48 and closed at $0.48.

Exploration Mining company Megado Gold Limited (ASX:MEG) also started trading today, their shares were issued at $0.20, started trading at $0.26 and are currently $0.26.

Best and worst performers of the day

The best performing sector was consumer staples with the fewest losses shedding 0.9 per cent while the worst performing sector was Info tech, shedding 3.3 per cent.

The best performing stock in the S&P/ASX 200 was Virgin Money UK (ASX:VUK), rising 2.7 per cent to close at $1.71. Shares in Bendigo and Adelaide Bank (ASX:BEN) and Blackmore’s (ASX:BKL) followed higher.

The worst performing stock in the S&P/ASX 200 was Corporate Travel Management (ASX:CTD), dropping 7.3 per cent to close at $16.68. Shares in Deterra (ASX:DRR) and IGO (ASX:IGO) followed lower.

Asian markets

Lower: Japan’s Nikkei has lost 0.2 per cent, Hong Kong’s Hang Seng has lost almost 1 per cent and the Shanghai Composite has dipped 0.1 per cent.

Commodities and the dollar

Gold is trading at US$1,908 an ounce.
Iron ore price is 0.8 down at US$114.63.
Iron ore futures are pointing to a lift of 0.3 per cent.
Light crude is US$0.26 higher at US$38.82 a barrel.
One Australian dollar is buying 71.36US cents.

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