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Lacklustre debut for PEXA’s $3b IPO after operational glitch We’re sorry, this service is currently unavailable. Please try again later. Dismiss 11.04am Normal text size Advertisement It was the biggest initial public offering since 2018, but PEXA made a lacklustre debut on the ASX with its high listing price blamed as much as an embarrassing operational glitch on the eve of its float. The online property conveyancer’s shares opened at $16.68 on Thursday morning, more than 2 per cent below their IPO price, and dropped further to trade as low as $16.40 before staging a late recovery. The...

ASX falls; ex-div property stocks tank Save Share UBS increases Afterpay price target Alex Gluyas UBS’ historically bearish view on Afterpay has been lifted slightly, with the broker increasing its price target on the buy now, pay later giant after its launch of one-time cards which the broker said evolves its revenue model. “The launch of one-time use cards that can be used at non-integrated merchants such as Amazon, significantly increases Afterpay’s total addressable market,” UBS analyst Tom Beadle said. More significantly, Mr Beadle pointed to the fact that this represents an evo...

The US was closed last night for Memorial Day and the UK for a bank holiday, following profit-taking in the Australian market yesterday. (Available for non-subscribers after 10am)

* Nuix worst performer in the benchmark index * Gold stocks gain on higher bullion prices (Updates to close) May 31 (Reuters) - Australian shares retreated on Monday after hitting a record high earlier in the session, as COVID-19 cases in the populous state of Victoria continued to swell while investors awaited signs of hawkishness in the central bank meeting due this week. The S&P/ASX 200 index, which crossed the 7,200 mark for the first time ever, closed 0.3% lower at 7,161.6. The index secured an eighth straight monthly gain in May. Victoria, the epicentre of Australia’s latest coronavir...

Read more about Australia Market falls from 3-month high on Business Standard. However, market losses capped as many investors opted for a wait-and-see attitude due to Memorial Day market closure in the United States and on caution ahead of the RBA's monthly policy announcement on Tuesday and the GDP data due Wednesday for