The financials staples sector rose 1% at midday Wednesday after the Bank of Queensland (ASX:BOQ) posted higher cash earnings for the fiscal first half.
Bank of Queensland reported that its cash earnings per diluted share in the fiscal first half rose to AU$0.264 from AU$0.239 per diluted share a year earlier. Revenue from ordinary activities for the six months ended Feb. 28 was AU$802 million, up from AU$796 million in the same period a year earlier.
The stock prices of major US banks gained after they posted strong profits for the first quarter. US President Donald Trump called on China to reach out to him to kick off negotiations to resolve trade tensions between the countries.
On the other hand, the energy sector fell 2.8%. Global oil demand will grow at its slowest rate for five years in 2025, according to the International Energy Agency. It cut its 2025 demand growth forecast by about 300,000 barrels per day.
Karoon Energy (ASX:KAR) said that its Neon field at an exploration Block in Brazil's Santos Basin has progressed into the define phase, following technical and commercial work confirming its growth potential. The phase includes further assessments ahead of a potential final investment decision in mid-2026. Karoon plans to farm down its 100% stake and secure a partner in the project in the third quarter of the year.
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