ASX Midday Sector Update: Utilities Stocks Jump, Information Technology Struggle

MT Newswires Live

02/20

Shares of firms in the utilities sector jumped 1% at midday Friday.

Origin Energy (ASX:ORG) rose nearly 1% in recent trade.

The Australian Stock Exchange was also boosted by materials firms, amid rising gold prices. Newmont (ASX:NEM) reported fourth-quarter adjusted earnings of $2.52 per share, up from $1.40 a year earlier.

On the flip side, the information technology sector dropped 3%.

Megaport (ASX:MP1) reported a fiscal first-half loss of AU$0.12 per share, swinging from earnings of AU$0.01 a year earlier.

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