Real Estate stocks climbed over 1% at midday Friday, leading a rally on the Australian bourse after all three major Wall Street stock indices hit record highs as recent US economic data boosted investor expectations of an upcoming rate cut by the US Federal Reserve.

Dexus Asset Management, as the responsible entity of Dexus Industria REIT (ASX:DXI), said Jason Weate was appointed as fund manager of Dexus Industria, effective Nov. 1, and the head of listed funds. Weate joined Dexus in 2022 as fund manager of Dexus Convenience Retail REIT.

Meanwhile, the energy sector plunged over 2%, as Brent crude and US West Texas Intermediate crude futures fell 0.45% and 0.5%, respectively, over concerns about potential softening of demand in the US and increases in OPEC+ oil production.

Beetaloo Energy (ASX:BTL) said initial 30-day flow rate results from its Carpentaria-5H horizontal well in the Northern Territory are expected in October, and an extended production test is scheduled to begin following the cleanup and soaking period. Planning for the installation of the Carpentaria gas plant at the EP187 permit is now in its final stages.