Information technology stocks advanced 0.6% at midday Friday, as US stocks were mixed at the end of the trading session on Thursday.
ikeGPS Group (ASX:IKE, NZE:IKE) ended talks with a potential acquirer because its final offer of around NZ$1 per ikeGPS share has no "realistic chance to secure sufficient support" from shareholders. Its shares rose over 36% in recent trading.
On the flip side, energy stocks continued to struggle, falling over 1%. Brent crude futures fell 0.4% to settle at $74.29 a barrel after US President Donald Trump again pledged to raise US oil production.
Tamboran Resources (ASX:TBN) concluded stimulation activities across 35 stages at its Shenandoah South 2H sidetrack (SS-2HST1) well in the Northern Territory, achieving new records in the Beetaloo Basin. The well will now proceed to clean out ahead of flow back and production testing.
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