A strong tech-led rebound on Wall Street overnight wasn’t enough to provide a boost for the ASX 200.

The local index finished Wednesday flattish, with Real Estate being the main laggard, falling by 1.3%.

The property sector retreated as NAB announced a hike in its fixed mortgages rates, the second time the bank has lifted the rate in December.

NAB raised its fixed rate mortgage rate by 0.1%, following a 0.5% hike on December 2nd.

The Tech sector meanwhile was the best performer today, rising by around 2.5%,  on the back of Nasdaq’s 2.4% rise overnight.

Tech darling Afterpay (ASX:APT) closed 5% higher following a 7.69% gain for its (soon to be) owner Block Inc (formerly Square).

Mergers & acquisition activities continue to remain elevated even heading into the holiday season.

Rio Tinto (ASX:RIO) announced today that it will acquire the Rincon lithium project from Rincon Mining for $825m.

Flight Centre (ASX:FLT) meanwhile is set to acquire Shep, a Texas based software company. Shep owns a browser extension platform that will allow FLT’s corporate customers to put its own content and user experience on third party websites that they use.


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Another potential M&A deal saw Link Administration (ASX:LNK) rising by 15% after receiving a takeover offer fromDye & Durham at $5.50 a share plus $0.03 in interim dividend.

Link’s Board has unanimously endorsed the offer, and the LNK share price is now trading close to offer price at $5.51.

Pexa Group (ASX:PXA), which is owned 42.8% by Link also rose on the news, rising by 6.5%.


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Charter Hall (ASX:CHC) is down 9% after announcing its intention to buy out 50% of $18bn-fund Paradice Investment, for a total value of $207m.

CHC has an option to acquire the remaining stake in PIM in FY25, subject to conditions.

CHC says it sees this partnership as an expansion of its funds management capability to service investor customers across multiple equity segments.