Codan Stock Hovers Near Peak, Traders Stay Alert on ASX
Codan Limited hovered near record highs as the ASX closed Wednesday, after the Adelaide tech firm ended Tuesday at A$43.85, gaining 0.34%. The S&P/ASX 200 dropped 0.24%. Shares in Codan are up roughly 138% over the past year, pushing the former communications and metal-detection niche player into the ASX’s more watched technology and defence stocks. Share price is steady, despite a pullback across the market. ASX 200 futures put on 13 points, or 0.15%, ahead of Wednesday’s open. Investors are still eyeing Wall Street’s slide, oil prices and U.S. inflation numbers later in the day.