ASX market movers: Altium, Hansen Technologies

Posted: 7 June 2021 5:02 pm
News
WM03MarketMovers_GettyImages_1800x1000

The 10 biggest movers on the ASX today.

Standout performers on the ASX Monday 7 June 2021

After a volatile few weeks for tech stocks, two Aussie software companies stole the show on Monday. Market favourite Altium (ALU) and Hansen Technologies (HSN) were the best performing stocks on the Australian market following similar takeover bids.

However, there was less positive news for bank shareholders, with each of the major bank stocks falling into the red by the end of the day. You can read about why the NAB share price tumbled here.

Altium (ALU) was the standout mover on the ASX today. Shares in the company rose 39.03% to $37.83.

"The Altium share price soared after the technology company announced it had rejected a takeover offer by US software firm Autodesk," said Finder's investments editor Kylie Purcell.

The US company had earlier offered to buy 100% of Altium's shares at $38.50 a share.

"Autodesk's offer was 40% higher than Altium's closing price last Friday, which is why we saw shares jump by around that same amount on Monday. Investors were matching Autodesk's valuation of the company," said Purcell.

"Despite the high premium to its then current price, Altium said the offer undervalued its future prospects and projects. Hopeful investors will now be waiting to see what the company's next move is.

Altium designs software for circuitboard manufacturers and other types of hardware.

Learn more about investing in Altium in Finder's full guide.

The second-best mover was Hansen Technologies (HSN), another software and services company.

It rose 22.0% to close at $6.32.

"Australian technology stocks must be doing something right," said Purcell. "Like Altium, Hansen also received a takeover bid, this time from Australian equity firm BGH Capital."

"Also similar to Altium, BGH offered Hansen a 25% price premium for 100% of its outstanding shares. On Monday, investors nearly matched that price."

Learn more about investing in Hansen Technologies in Finder's full guide.

These were the 10 biggest movers on the ASX today:

StockClose% change
Altium (ALU)$37.5738.1%
Hansen Technologies (HSN)$6.3222.0%
Adriatic Metals (ADT)$2.7311.4%
Eagle Mountain Mining (EM2)$1.108.9%
Nitro Software (NTO)$2.997.9%
Mnf Group (MNF)$5.327.5%
Australian Strategic Materials (ASM)$5.856.9%
Clover Corporation (CLV)$1.756.7%
Appen (APX)$13.016.3%
Nuix (NXL)$2.756.2%

Share your review to win $1,500!

Review your current share trading platform for a chance to win $1,500 in Myer gift cards.



Get started

Market indicators Monday 7 June 2021

Overall, the S&P/ASX200 closed down Monday, dropping 13 points (-0.18%) to 7282.1.

Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to market close. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated at the end of the day, but these prices may be subject to minor variation depending on data availability.

Need a better share trading platform? Check out Finder's full review of the best online brokers in Australia right now.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site