Consumer discretionary stocks advanced marginally at midday Thursday.
Wesfarmers (ASX:WES) gained more than 1% in recent trade.
Meanwhile, the information technology sector struggled, shedding nearly 2%.
Xero (ASX:XRO) shares fell 3% in recent trade.
American Rare Earths (ASX:ARR) began its exploration drilling program at the Cowboy State mine within the Halleck Creek rare earths project in Wyoming, according to a Wednesday Australian bourse filing.It engaged Boart Longyear to drill up to around 3,050 meters across 19 holes on Red Mountain at the mine. The program is designed to provide the geological and geotechnical foundation for a definitive feasibility study.Drilling started on May 13 and is scheduled to end by mid-July.Its shares climbed 5% in recent trading on Wednesday.
Amaero International (ASX:3DA) initiated a dust hazard and engineering review of its manufacturing facility in Tennessee after a small contained fire occurred during planned remediation work on Tuesday, according to a Wednesday Australian bourse filing.It expects to pause titanium powder production for around four to six weeks while it completes the review and makes any recommended remediation.No injuries were sustained, and there was no damage to the building or capital equipment. The fire was extinguished immediately, it added.It engaged a contractor to undertake the removal of sections of the exhaust system that contained PVC piping, to be replaced with stainless steel, and a small fire occurred during the removal work.Its shares fell 2% in recent trading on Wednesday.
Samsung Electronics (KRX:005930) plans to invest $1.5 billion in Vietnam to build its first chip testing factory in the country, The Economic Times reported Wednesday, referring to a company document reviewed by Reuters.Construction has already begun at an industrial park about 60 kilometers north of the Vietnamese capital of Hanoi, with operations expected to start in November 2027, the report said.Shares of Samsung Electronics fell nearly 7% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)