Information technology stocks advanced 0.5% at midday Tuesday, tracking gains in the technology stock-heavy Nasdaq, which jumped 1.5%.
Dubber (ASX:DUB) said that its wholly-owned unit, Dubber Pty, filed legal proceedings in the Federal Court of Australia against its former auditors, BDO Audit (WA), over the alleged misappropriation of AU$26.6 million of company funds uncovered during fiscal 2024. The proceedings cover the audits conducted in the fiscal years 2020, 2021, and 2022 and the misappropriation of funds during that period, the filing said. The claim is for up to AU$26.6 million, plus interest and costs.
On the flip side, the utilities sector fell 0.8%. US stock futures fell and oil prices rose after US President Donald Trump called for the evacuation of Tehran in a social media post.
Contact Energy's (ASX:CEN, NZE:CEN) mass market electricity sales declined in May compared with the year-earlier period, while wholesale spot electricity sales rose. Retail mass market electricity sales fell to 310 gigawatt hours (GWh) in May from 350 GWh in the same period in 2024.
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