ASX boosted by banks, energy; inflation tops expectations
Key Points
- Australian dollar up 5.8 per cent in April
- The US Fed will announce its latest monetary position overnight
- Oil producers advance
- Coles supermarket sales up 13.8pc
- S&P/ASX200 closes up 1.5pc
iSignthis investigated by Visa
Suspended payments fintech iSignthis confirmed judgement is expected tomorrow in its legal action against the ASX.
In its quarterly released to the market after the closing bell, iSignthis had $17.5 million of cash on hand at the quarter end, but receipts from customers were down 33 per cent to $10.5 million because of the pandemic, including the revelation that Visa was investigating the business.
That meant processing to merchants across Visa's network was suspended for part of March. The suspension was "pending response to Visa re queries on ASX 'investigation', concerns re 'derogatory media' and the focus on high risk merchants."
iSignthis boss John Karantzis has applied to have a court throw out the ASX's suspension of its scrip as illegal.
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