Please not that our regular daily market insights will be pausing this week and resuming in mid-Jan 2018.
Global markets continued to trade higher overnight with major US stock indexes hitting fresh record highs (with the Nasdaq Technology index passing the 7000 level for the first time) in a broad rally as the long-awaited bill to lower taxes looks set to be passed into law and following a flurry of deal-making.
Buoying investor sentiment was a tide of merger and acquisition activity in Europe, the US and even Australia which saw strong upward momentum yesterday provided by a takeover-inspired Aussie Technology sector. In terms of the news, US technology giant Oracle said it is buying ASX-listed construction software provider Aconex in an all-cash $1.6 billion deal as it expands further into the cloud computing market.
Stock in Focus: Aconex (ACX:AX)
Aconex shares jumped +44% yesterday following the announcement, and Tech stocks across Australia and NZ received a boost from invest...
Stock Markets, Simplified.