Communication services stocks climbed past 1.8% at midday Thursday, as heavyweight Telstra (ASX:TLS) reported strong results for the fiscal first half.

Telstra reported that its earnings per diluted share in the fiscal first half rose to AU$0.089 from AU$0.083 per diluted share a year earlier. Total income for the six months ended Dec. 31, 2024, was AU$11.82 billion, up from AU$11.72 billion in the same period a year earlier.

On the flip side, the real estate sector struggled, shedding more than 2.8%. Expectations for another interest rate cut in Australia fell after data showed that Australia's seasonally adjusted unemployment rate rose to 4.1% in January, from 4% in the prior month.

Charter Hall Group (ASX:CHC) reported fiscal half-year diluted earnings per stapled security of AU$0.127, compared with a loss of AU$0.394 per stapled security a year earlier. Revenue for the six months ended Dec. 31, 2024, was AU$283.6 million, down from AU$308.2 million a year earlier.