Consumer staples stocks rose 0.62% at midday Thursday, the only sector on the ASX trading in the green. US stock futures fell sharply after US President Donald Trump announced a series of tariffs on countries trading with the US.
Treasury Wine Estates (ASX:TWE) said it does not expect the US government's 10% tariff on imports from Australia and New Zealand to have a material impact on its business. Its Treasury Americas division generates about 15% of its revenue from Australian and New Zealand wines, with the rest coming from US-produced wines.
On the other hand, the information technology sector led a broad-based selloff, falling 2.52%. The sector tracked a slump in technology stocks in the US.
WiseTech Global (ASX:WTC) revised Interim CEO Andrew Cartledge's remuneration package, to include a base salary of AU$1.7 million per annum, consisting of AU$1.2 million in cash and AU$500,000 in equity grants.
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