ASX Midday Sector Update: Information Technology Stocks Jump, Utilities Sector Falls

MT Newswires Live

2025/02/04

The information technology sector led a rebound on the Australian bourse, advancing 1.8% at midday Tuesday, after US President Donald Trump delayed the announced tariffs on Canada and Mexico by 30 days.

ReadyTech Holdings (ASX:RDY) agreed to acquire CouncilWise, a property and rating platform serving 35 local councils with property and revenue management solutions, for up to AU$8 million.

On the other hand, utility stocks fell 0.3% as crude oil prices swung amid uncertainty around trade.

Frontier Energy (ASX:FHE) said that stage one of its Waroona renewable energy project in Western Australia is development-ready, and it is targeting commercial operation by 2027.

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