ASX firms 0.9pc even as tech stocks take a hit
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Technology stocks were left behind in Tuesday’s sharemarket rally as the forces of rising bond yields made the growth darlings’ high valuations and lack of profits an increasingly unpalatable proposition.
The Australian 10-year bond yield reached 1.65 per cent on Tuesday for the first time since 2019, as US Treasuries hit 1.39 per cent.
The S&P/ASX 200 Index added 58.3 points or 0.9 per cent to 6839.2 and the All Ordinaries 0.7 per cent to 7110.8.
On another big day of results, Seek fell 7.1 per cent to $28.19. Andrew Bassat will cede the top job to former Commonwealth Bank boss Ian Narev and Seek will become in effect two businesses, separating its venture capital activities.
Macquarie finds a partner for its Vocus bid, doubts over NZ listing
23 Feb, 2021 06:30 PM
7 minutes to read
Vocus NZ chief executive Mark Callander, who also services as CEO of Vocus Group s wholesale operation across the Tasman and sits on the ASX-listed company s board. Photo / Leon Menzies
Vocus NZ chief executive Mark Callander, who also services as CEO of Vocus Group s wholesale operation across the Tasman and sits on the ASX-listed company s board. Photo / Leon Menzies
Macquarie has drafted reinforcements for its A$3.4 billion bid for ASX-listed Vocus Group. In an ASX filing, the investment bank said it is now partnering with Aware Super on what remains a non-binding bid. Aware
Aware Super joins MIRA s $3 4bn tilt at Vocus afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
The Australian sharemarket reversed a strong start to the month’s trading this week, as disappointing earnings and a new lockdown in Victoria weighed on sentiment.
Vocus is confident it can make the latest deal from Macquarie Infrastructure and Real Assets Management work because its health is robust compared with 2019, when separate bids from AGL Energy and EQT fell over.