The materials sector advanced 0.8% at midday Thursday as rare earth elements producers' stock prices rose after automakers warned that China's export controls could disrupt or halt production.
The US 10-year Treasury yield slid, and expectations increased that the US Federal Reserve will cut interest rates at least twice this year, after reports showed a contraction in the US non-manufacturing sectors and slow hiring across the private sector.
Nordic Nickel (ASX:NNL) said it completed and settled the acquisition of the Kopsa, Kiimala Trend, and Hirsikangas gold projects in Finland via the issuance of 70 million ordinary shares in the firm to the vendor, Northgold, as well as a cash payment of 2 million Swedish kronor.
On the flip side, the utilities sector posted the biggest decline, falling 0.6%.
Meridian (ASX:MEZ, NZE:MEL) appointed Rory Blundell to the newly created role of general manager, strategy and portfolio, while Chris Ewers will take up a new position as electricity security manager.
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