Utilities stocks advanced almost 1% at midday Friday, one of the only two sectors on the ASX trading in the green.

Genesis Energy (ASX:GNE, NZE:GNE), issued restricted share rights in respect of 744,536 ordinary shares to its Chief Executive, Malcolm Johns, pursuant to the equity incentive plan. The conversion of any rights to its ordinary shares is subject to the satisfaction of certain vesting conditions in accordance with the terms of the plan.

On the flip side, the information technology sector fell nearly 2%. On Wall Street, all three major stock indices closed slightly lower. US President Donald Trump announced further tariffs on Canada and India.

NOVONIX (ASX:NVX), whose shares fell over 2%, and Lithium Energy (ASX:LEL) decided not to proceed with the acquisition of Mt. Dromedary graphite deposit in Queensland, and the spin-out of their consolidated graphite assets via an initial public offering of shares in Axon Graphite, a unit of Lithium Energy, due to prevailing market conditions.