The Last Trade || Which Sector Continues To Lead With 3% Gain Amid Rise In Commodity Prices?

• The benchmark index ASX 200 is trading higher by 69.1 points or 0.98 per cent at 7 thousand 149.

• ASX opened flat with negative bias as investors remained cautious after Sydney extended COVID-19 restrictions by a week. 

•  The Star Entertainment Group surged almost 10 per cent to the intra-day high of $4.30 after the company submitted a proposal to merge with Crown.

• Crown Resorts shares meanwhile jumped as much as 10 per cent to $13.32 after gaming and entertainment company received a merger proposal from The Star Entertainment Group.

• The stock of the litigation funder Omni Bridgeway rose just over 9 per cent to $3.7 after the company said it recognised $94 million from settlement of the Brisbane Floods class action in Financial year 2021. 

• The share price of Fortescue Metals Group rose 7 per cent to the day’s high of $24.58, tracking rise in iron ore prices.

•  Brent crude oil futures for July delivery traded at US$68.94 per barrel up 1.08 per cent, while WTI crude  for June delivery traded 0.97 per cent up at US$65.53 per barrel as of 10 May 2021.

• The stock of PointsBet Holdings was trading marginally lower after the company said that its wholly-owned subsidiary PointsBet USA Inc has entered into a binding agreement to acquire Premier Turf Club, that is an Advance Deposit Wagering operator

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