ASX Midday Sector Update: Information Technology Stocks Surge 1.3%, Materials Stocks Fall

MT Newswires Live

2025/01/06

Information Technology stocks in Australia advanced 1.3% at midday Monday, reflecting a rally in US tech stocks.

Vection Technologies (ASX:VR1) secured a AU$1.8 million contract with a technology service provider, which will provide services to a European local government, delivering artificial intelligence-driven information and communication technology endpoints and extended reality solutions.

On the other hand, the materials sector struggled, falling 1.1%, impacted by falling iron ore prices.

Sandfire Resources (ASX:SFR) said that the Supreme Court of Montana upheld a 2023 district court ruling that mine dewatering is not a beneficial use of water.

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