16 Dec 20 - APRA Lifts Bank Pay-out Restrictions | Pushpay Sell-down Global markets rallied overnight (S&P 500 index +1.3%) as small-cap stocks continued to outperform, with investors taking comfort in the vaccine rollout and progress on stimulus talks. The Nasdaq index shows a decent gain as well, unperturbed by news of the EU publishing new draft legislation that would allow it to heavily fine or break up “Big Tech” if companies engaged in anti-competitive behaviour. The UK fell as London's pandemic restrictions tightened.   Pushpay (PPH:NZX / PPH:ASX) PPH shares have emerged from a trading halt this morning down -8%. The stock was halted yesterday as PPH undertook a bookbuild for Chris Heaslip and Chris Fowler’s NZ$97.9 million share sell down, with 54.68 million shares (4.96% of the register) held by Mr Heaslip’s and Mr Fowler’s respective associated interests being sold, at the clearing price of NZ$1.79 per share. The book was oversubscr...