Xero weighs on Australian tech stocks

Taiton Resources

26/06/2025 02:07

** Australian technology stocks .AXIJ fall as much as 3.1%; their lowest level since May 30

** Sub-index falls for a second consecutive session

** Shares of IT giant Xero XRO.AX down 7.3% on resumption of trading, post announcing the acquisition of Melio Payments on Wednesday, along with a discounted placement to fund the deal

** XRO is the top loser on the ASX 200 benchmark index .AXJO which is down 0.1%

** Sub-index up 7.3% this year, as of last close

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))