How was your week?
It’s been a pretty good one for Atlassian.
The company’s market cap has broken through the $US100 billion mark, lifting the personal wealth of its Australian founders to $US23 billion each.
In other news…
Hyundai is planning to build a network of 65 ‘Flying-taxi hubs’ from London to LA, starting from early 2022.
We’d be happy just taking a regular road trip at this point!
Have a good weekend.
The Australian sharemarket limped to the finish line on Friday, with stocks weighed down by predictions that the price of iron ore will fall further.
The S&P/ASX200 finished 0.76 per cent lower to 7403.7for the day, pushing the index down a small 2.9 points for the week overall.
A brief jump in the oil price midweek powered energy stocks higher on Thursday, but miners sunk the market at Friday’s open after the iron ore price extended its recent slide to sit at $US107.21 a tonne.
Fortescue led the declines on Friday, losing 11.5 per cent for the session to $15.27 and earning a downgrade from UBS, while Rio Tinto finished the day 4.7 per$39.16 cent lower to $98.8 and BHP lost 3.4 per cent to $39.06.
Gold stocks also struggled off the back of a declining gold price, with Newcrest down 3.1 per cent to $23.78.