ASX Midday Sector Update: Energy Stocks Rise, Materials Sector Falls

MT Newswires Live2025-07-25

Energy stocks rose over 1% at midday Friday, as Brent crude futures rose 0.3% to $69.35 per barrel after advancing 1% on Thursday.

NexGen Energy (ASX:NXG), which jumped almost 5%, exercised its right of first refusal to acquire the 10% production carried interest held by Rio Tinto's (ASX:RIO) unit, Rio Tinto Exploration Canada, over 39 of the company's mineral claims in the Southwest Athabasca Basin.

On the flip side, the materials sector fell past 1%, as iron ore and gold prices retreated.

Newmont (ASX:NEM) reported that its second-quarter adjusted net income rose to $1.43 per diluted share from $0.72 a year earlier. Sales for the three months ended June 30 reached $5.32 billion, up from $4.40 billion a year earlier. It remains on track to meet its 2025 total attributable gold production guidance of 5.9 million ounces at an all-in sustaining cost of $1,630 per ounce.

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