The materials sector advanced almost 2% at midday Friday, bucking the downward trend, with iron ore futures hitting a two-month high at almost $100 per tonne.
Carawine Resources (ASX:CWX) received notice from IGO (ASX:IGO) of its intention to exit the Fraser Range joint venture (FRJV) in Western Australia. IGO has advised it will relinquish exploration licence E39/1733, the last remaining tenement in the FRJV, effectively terminating the joint venture.
On the other hand, the real estate sector led the decline, shedding more than 1%. US President Donald Trump said he plans to increase blanket tariffs on most trading partners to between 15% and 20% from 10% currently.
Cromwell Property Group (ASX:CMW) signed a 15-year lease with an Australian government tenant for a new sustainable office in Barton, Australian Capital Territory, while refinancing debt to reduce its credit margin to 1.3% from about 1.8% after exiting Europe.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.