ASX Midday Sector Update: Consumer Discretionary Stocks Jump, Materials Stocks Fall

MT Newswires Live

Mar 20

Consumer discretionary stocks jumped 1.8% at midday Thursday, as the ASX saw a broad-based recovery. Shares rose in trading on Wall Street after the US Federal Reserve kept interest rates unchanged again.

Australia's seasonally adjusted unemployment rate stood at 4.1% in February, unchanged from the prior month and in line with the Trading Economics consensus forecast.

Web Travel Group (ASX:WEB) completed its AU$150 million on-market share buyback program announced in November 2024.

On the flip side, the materials sector was the only sector trading in the red, down just 0.4%, after iron ore prices fell overnight.

Arafura Rare Earths (ASX:ARU) signed an agreement with Traxys Europe for the supply of a minimum of 100 tonnes per annum of neodymium-praseodymium oxide from its Nolans Project in the Northern Territory.

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