ASX Is up 0.8 pc in Early Trade, Led Higher by a 3.6 pc Gain in the Technology Sector
australian financial review2022-05-16
The sharemarket is up 0.8 per cent in early trade led higher by a 3.6 per cent gain in the technology sector. Cloud accounting business Xero added 4.5 per cent in early trade, with WiseTech Global up 2.7 per cent.
Brambles is up 10.5 per cent to $11.52 on news it received a takeover approach from CVC Capital Partners.
The energy sector is up 1.3 per cent as benchmark oil futures top $US110 a barrel on optimism over an easing of lockdown restrictions in Shanghai, China.
Investors are also pricing in the potential for tighter supply if the European Union bans oil imports from Russia.
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