ASX Midday Sector Update: Materials Stocks Lead Broad Market Gains

MT Newswires Live05-01 10:29

Materials stocks were leading gainers in midday trading on Friday, with a rise of 2.4%, as all other sectors were also in the green following a strong rally in the US and a decline in the price of Brent crude.

Sector heavyweights BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) both advanced around 3%.

EQ Resources (ASX:EQR) fell nearly 9% after saying it will not proceed with a proposed acquisition of Tungsten Metals Group following a review of strategic priorities.

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