FINWIRES · TerminalLIVE
FINWIRES

ASX Midday Sector Update: Utilities Stocks Gain, Materials Struggle

By

-- Utilities stocks were leading gainers in midday trading Wednesday with a rise of 1.7% after the United Arab Emirates said it would quit the Organization of the Petroleum Exporting Countries, adding to energy supply concerns amid ongoing tensions between the US and Iran.

Shares of Origin Energy (ASX:ORG) ticked nearly 3% higher to recover from losses in the previous trading session.

On the flip side, materials stocks were leading decliners with a fall of 0.8%.

Westgold Resources (ASX:WGX) shed more than 2% after reporting group gold production of 93,145 ounces for the fiscal third quarter. The group's all-in sustaining cost for the quarter was AU$3,338 per ounce, compared with AU$2,829 per ounce a year earlier.

Related Articles

Asia

Shoucheng Invests in Chinese Public Housing REIT

Shoucheng (HKG:0697) said it invested in a public housing real estate investment trust in China, according to a Hong Kong bourse filing Wednesday.The infrastructure asset management firm invested in AVIC Beijing Changping Public Housing REIT, which holds the Yanlan Xinchen, Guorui Xiyuan, and the Weilai Rongshang Jiayuan projects as its underlying assets.The projects are located in Beijing's Changping district.

$HKG:0697
Asia

Nickel Industries Reports Higher March Quarter Adjusted EBITDA From Operations; Shares Hit Three-Year High

Nickel Industries (ASX:NIC) said its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from operations came in at $135.6 million for the three months ended March 31, according to a Wednesday Australian bourse filing.The company's adjusted EBITDA from operations for the March 2025 quarter was $97.3 million, according to an earlier filing.Ore production from the company's mining operations came in at nearly 4 million wet metric tonnes, compared with 5.6 million wet metric tonnes produced in the same quarter in the previous year.The company produced 30,264 tonnes of nickel from its rotary kiln electric furnace project during the March quarter, compared with 31,793 tonnes produced in the year-ago period.The attributable production from HPAL operations was 2,153 tonnes in the March quarter, compared with 2,118 tonnes in the prior corresponding period.Nickel Industries' shares advanced 4% in recent trading on Wednesday and earlier hit their highest since February 2023.

$ASX:NIC
Asia

Gotion High-tech 2025 Profit Up 97%; Shares Down 3%

Gotion High-tech (SHE:002074) posted 2025 attributable net profit of 2.38 billion yuan, up 97% from 1.21 billion yuan the previous year.Earnings per share rose to 1.32 yuan from 0.68 yuan, according to a Wednesday filing with the Shenzhen bourse.Operating revenue went up 27% year over year to 45.1 billion yuan from 35.4 billion yuan.Shares of the battery maker were down 3% in recent trade.

$SHE:002074