ASX Midday Sector Update: Information Technology Sector Rises, Energy Stocks Fall

MT Newswires Live

Feb 07, 2025

Information technology stocks advanced 0.6% at midday Friday, as US stocks were mixed at the end of the trading session on Thursday.

ikeGPS Group (ASX:IKE, NZE:IKE) ended talks with a potential acquirer because its final offer of around NZ$1 per ikeGPS share has no "realistic chance to secure sufficient support" from shareholders. Its shares rose over 36% in recent trading.

On the flip side, energy stocks continued to struggle, falling over 1%. Brent crude futures fell 0.4% to settle at $74.29 a barrel after US President Donald Trump again pledged to raise US oil production.

Tamboran Resources (ASX:TBN) concluded stimulation activities across 35 stages at its Shenandoah South 2H sidetrack (SS-2HST1) well in the Northern Territory, achieving new records in the Beetaloo Basin. The well will now proceed to clean out ahead of flow back and production testing.

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Its shares rose over 36% in recent trading.</p><p>On the flip side, energy stocks continued to struggle, falling over 1%. Brent crude futures fell 0.4% to settle at $74.29 a barrel after US President Donald Trump again pledged to raise US oil production.</p><p>Tamboran Resources (ASX:TBN) concluded stimulation activities across 35 stages at its Shenandoah South 2H sidetrack (SS-2HST1) well in the Northern Territory, achieving new records in the Beetaloo Basin. The well will now proceed to clean out ahead of flow back and production testing.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"III","symbol_name":"信息服务","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2509756375","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509756375","pubTimestamp":1738896131,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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