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ASX Midday Sector Update: Consumer Staples Stocks Rise, Cochlear Weighs on Health Care

-- Consumer staples stock rose more than 1% to lead gainers in midday trading on Wednesday.

Treasury Wine Estates (ASX:TWE) was advancing more than 16% after saying it will transition to a new regional operating model, effective Oct. 1, under which the company will have four regional divisions.

On the flip side, health care stocks retreated over 5%, weighed down by a sharp decline for sector heavyweight Cochlear (ASX:COH).

The company's shares plunged more than 39% after it downgraded its fiscal year 2026 underlying net profit guidance, saying that trading conditions for its hearing implants in developed markets have been weaker than anticipated since January.

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