ASX Midday Sector Update: Materials Sector Leads Rally

MT Newswires Live12-22 10:30

The materials sector soared 2% at midday Monday, leading a broad-based rally, with all sectors of the Australian bourse trading in the green.

Gold traded at $4,370 per ounce, nearing a record high.

On Wall Street, the Nasdaq index rose 1.3%, the S&P 500 climbed 0.9%, and the Dow Jones advanced 0.4%.

Liontown (ASX:LTR), whose shares jumped over 4%, completed open-pit mining at the Kathleen Valley operations in Western Australia, marking the transition to a fully underground lithium operation.

The final truckload of ore departed the Kathleen's Corner pit after three years of open-pit mining, which provided material for the construction of the run-of-mine pad and tailings storage facility.

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