ASX Midday Sector Update: Materials Stocks Rise, Financials Sector Falls With Other Sectors Into Red

MT Newswires Live

01/10

The materials sector was the only one making gains on the Australian Securities Exchange on Friday, rising 0.8%, as iron ore prices rose 0.7%.

Vault Minerals (ASX:VAU) said State Street became a substantial shareholder Tuesday, with a voting power of 5.01%.

While all the other sectors were trading in the red, financial stocks saw the largest decline, sliding 1.4%. The Australian dollar hit a two-year low overnight.

Global asset manager Brookfield is mulling a takeover bid for Insignia Financial (ASX:IFL), amid a bidding tussle for Insignia between CC Capital Partners and Bain Capital, The Australian reported. Insignia said it had not received any proposal from Brookfield.

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