ASX Midday Sector Update: Energy Stocks Soar, Information Technology Sector Struggles

MT Newswires Live10-23

Energy stocks soared almost 3% at midday Thursday, as Brent crude futures jumped 2.81% to reach $64.35 per barrel and US West Texas Intermediate crude futures climbed 2.87% to $60.18 per barrel. The US imposed sanctions on Russian oil companies Rosneft and Lukoil over the war in Ukraine, adding that it was prepared to take further action.

Woodside Energy Group (ASX:WDS), whose shares rose past 3%, entered a strategic partnership with US-based natural gas infrastructure firm Williams, under which Woodside will sell a 10% stake in Louisiana LNG as well as an 80% interest in and the operatorship of Driftwood Pipeline to Williams for a purchase price of $250 million effective Jan. 1.

The information technology sector, on the other hand, fell around 1%, tracking losses on Wall Street, where the tech-heavy Nasdaq index fell 0.9%.

Vista Group International (ASX:VGL, NZE:VGL) said its year-on-year revenue growth continues, and earnings before interest, taxes, depreciation, and amortization margin guidance for the full year remains within the guided range of 16% to 18%, despite the third quarter box office "experiencing some softness."

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