Materials stocks lead a rally on the Australian bourse, rising 1.2% at midday Friday. The flagship ASX 200 index reached a new intra-day high.
Investments in miners increased again after fears around potential tariffs on China abated.
Emerald Resources (ASX:EMR) reported record gold production at its Okvau gold mine in Cambodia for the December 2024 quarter, coming in at 31,888 ounces, with all-in sustaining costs of $855.
On the other hand, the utilities sector plunged over 3%.
Origin Energy (ASX:ORG) lowered its fiscal 2025 Australia Pacific LNG production guidance to 670 to 690 petajoules from a previous projection of 685 to 710 petajoules. Its Australia Pacific LNG revenue for the December 2024 quarter was AU$2.71 billion, up 14% year-over-year. Its shares fell over 5% in recent trading.
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