The resilient run of the S&P/ASX 200 (ASX: XJO) continued on Thursday, with the market rallying 0.7% on signs a deal on the debt ceiling may be reached in the US.
In Australia, it was more positive news on the vaccine front with NSW hitting 70% double dose and the reopening set to commence on 11 October.
ASX tech sector rallies, Sezzle share price soars
In a reversal of recent trends, the energy sector fell hardest, down 0.8%, with the ASX tech sector jumping 2.8% on the back of strength in Afterpay Ltd (ASX: APT) which finished 3.1% higher.
The big news though was smaller player Sezzle Inc (ASX: SZL), which moved 14.6% higher after more details emerged on its massive deal with Target (NYSE: TGT) in the US and global BNPL player Affirm Holdings (NASDAQ: AFRM).
Every other sector was higher with financials and healthcare adding 1% after Wednesday’s sell-off. Challenger Ltd (ASX: CGF) gained 3.6% and Cochlear Limited (ASX: COH) climbed 2.6% on limited data.
Elsewhere, shares in lithium miner Pilbara Minerals Ltd (ASX: PLS) also gained 6.7% after commissioning one of its plants.
Dutch expansion for Collins Foods
Australian KFC franchisee Collins Foods Ltd (ASX: CKF) neared a record high, gaining 6.9% on news it had agreed to purchase the rights for further store expansion in the Netherlands from US-listed Yum! Brands (NYSE: YUM).
The corporate franchise agreement gives Collins Foods the option of opening another 150 stores in the country, potentially increasing its network fivefold.
CKF share price chart
Wesfarmers looks to block API bid
Wesfarmers Ltd’s (ASX: WES) pursuit of pharmacy chain Australian Pharmaceutical Industries Ltd (ASX: API) took another step forward with the board confirming it had purchased a 19.3% shareholding in API from Washington H Soul Pattinson and Co Ltd (ASX: SOL) as previously agreed. The API share price finished 1.7% higher while Wesfarmers shares gained 0.5%.
Qube deal investigated
Qube Holdings Ltd (ASX: QUB) shares fell 0.6% after the ACCC announced they would be investigating the acquisition of the Newcastle Agri Terminal which they say occurred without approval.
Qube’s management responded suggesting it had no impact on competition and that the regulator had been informed several weeks before.
ASX 200 today
The ASX 200 is poised to open higher on Friday after all three US benchmarks climbed overnight to a three-day winning streak. For a recap of the latest news, check out my US stock market report.
