Gains for the major bank, mining and energy stocks have helped lift the Australian share market in early trade, while Sigma Healthcare has launched a bid for pharmacy group API, rivaling an offer from Wesfarmers.Sigma has entered a takeover tussle for pharmacy group API, beating a previous bid from WesfarmersBy 10:40am AEST, the benchmark ASX 200 index was 0.6 per cent higher at 7,386 points, starting the trading week on a positive note after posting its third straight weekly fall.
Earlier this month, API opened its books to Wesfarmers, after the WA-headquartered retail conglomerate increased its takeover offer for the company to $763.6 million. Sigma currently operates pharmacies under the Amcal, Guardian, Discount Drug Stores, PharamSave and Wholelife brands.
US dollor is raising. Need to be careful of ASX