Energy stocks were the only sector in the green around midday trading Thursday, rising 2% as oil prices ticked higher amid continuing tensions between the US and Iran over the Strait of Hormuz.
Santos (ASX:STO) was advancing over 2% after saying first-quarter production increased to 22.5 million barrels of oil equivalent (mmboe) from 21.9 mmboe a year earlier.
Meanwhile, real estate stocks bore the brunt of broader market declines and were down 1.6%.
Mirvac Group (ASX:MGR) reported 592 residential sales for the fiscal third quarter, up 12% year on year. The company's shares slid nearly 2%.
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