The information technology sector rose over 1% at midday Thursday, tracking an after hours rise in US technology stocks.
Atturra (ASX:ATA), whose shares jumped over 5%, through its subsidiary, Cirrus Network Holdings, entered into a share purchase agreement to acquire Blue Connections. The acquisition is expected to be completed on or around Aug. 31. Chief Executive Stephen Kowal said the firm will also establish a key operational hub for the business in Victoria, supporting continued national expansion.
On the flip side, the materials sector fell over 2%. Copper prices suffered their sharpest drop since 1988, falling around 20%. This came after the US said a 50% tariff on copper imports would only apply to semi-finished copper products.
Rio Tinto Group (ASX:RIO), which fell almost 3%, reported that its earnings per share in the fiscal first half fell to $2.76 from $3.55 per diluted share a year earlier. Sales revenue for the six months ended June 30 was $26.87 billion, up from $26.8 billion in the same period a year earlier.
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