ASX Midday Sector Update: Energy Minerals Soar, Technology Services Struggle
MT Newswires Live
Yesterday
Energy minerals stocks advanced nearly 5% at midday Monday, with oil and gas production also up almost 5%.
Woodside Energy Group (ASX:WDS) shares, which gained nearly 6% in recent trade, earlier reached a one-year peak, as oil surged in the wake of conflict in the Middle East and after eight Organization of the Petroleum Exporting Countries plus (OPEC+) countries agreed to resume oil production increases.
Shares of Santos (ASX:STO) also rose almost 6% in early trading on Monday.
On the flip side, the technology services sector struggled, shedding almost 3%.
Wisetech Global (ASX:WTC) shares fell nearly 4% in recent trade.
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