ASX to rise, Wall St surges on Biden optimism
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Australian shares are poised to open higher, as Wall Street rallied on the first day of Joe Biden s presidency, betting that he will push for more spending measures to bolster the US economy.
ASX futures were up 44 points or 0.7% to 6757 near 8am AEDT. The local currency gained 0.7 per cent; the Bloomberg dollar spot index slipped 0.2 per cent.
In New York, the S&P 500 and Nasdaq surged to record highs. At the close the S&P 500 was up 1.4 per cent; the Nasdaq had gained 2 per cent. The Dow was up 258 points or 0.8 per cent.
Cloud network outfit NetLinkz launches placement
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NetLinkz launched a capital raising on Monday. Â
Louise Kennerley
The company was in the market with a $7 million placement on Monday morning and had EverBlu Capital in its corner to help out on the deal.
The new shares were being offered to funds at 6¢ each, which represented a 15.5 per cent discount to NetLinkz s last close and an 18 per cent discount to the five-day VWAP, according to terms sent to funds.
Money raised would be used to repay outstanding convertible loans, as well as for working capital and to fund its growth in China.