Midday Sector Update: Materials Sector Shares Soar, Information Technology Stocks Fall

MT Newswires Live

2025/01/08

Stocks in the materials sector rose 1.6% at midday Wednesday, as spot gold prices rose 0.5%.

West African Resources' (ASX:WAF) total production for 2024 was 206,622 ounces, at the upper end of its guidance of 190,000 to 210,000 ounces. The company's shares rose past 3%.

Meanwhile, information technology stocks erased some gains, falling 0.8%, following major US tech stocks in a sell-off.

Archer Materials (ASX:AXE) improved the electron spin lifetime of its manufacturable quantum carbon film to 800 nanoseconds as well as the carbon film's sample-to-sample repeatability and uniformity. The company's shares surged almost 8%.

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