ASX 200 ends lower on tech; BGH Capital increases Virtus Health offer
ASX lower as tech stocks fall on Snap warning. BGH Capital matches CapVest's Virtus offer, Mercer set to buy BT Super, Crown targets June takeover and The Lottery Corp debuts.
Welcome to the Trading Day blog for Tuesday, May 24. The Australian sharemarket closes lower as investors tech and communication stocks. It comes as Crown expects Blackstone to complete its takeover in June and The Lottery Corporation debuts.
The S&P/ASX 200 index fell by 0.3 per cent to 7128.80 with all sectors except for real estate (+0.4 per cent) and financials (+0.3 per cent) lower.
The Dow Jones Industrial Average jumped 2 per cent and the tech-heavy Nasdaq gained 1.6 per cent. The S&P 500 climbed 1.9 per cent after the benchmark gauge briefly traded in a bear market in the previous session.
Among commodities, global oil prices edged higher with the US Nymex crude oil adding 0.1 per cent to $US110.43 a barrel while iron ore slid 0.1 per cent to $US134.29.
The Australian dollar traded near US70.83 at the end of Australian trading.
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