-- Materials stocks were leading gainers in midday trading on Friday, with a rise of 2.4%, as all other sectors were also in the green following a strong rally in the US and a decline in the price of Brent crude.
Sector heavyweights BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) both advanced around 3%.
EQ Resources (ASX:EQR) fell nearly 9% after saying it will not proceed with a proposed acquisition of Tungsten Metals Group following a review of strategic priorities.
Forrestania Resources (ASX:FRS) said the mineral resource estimate for its Burracoppin gold deposit in Western Australia, within its Westonia gold hub, came in at 2 million tonnes at a grade of 0.9 grams per tonne for 58,700 ounces of gold, according to a Friday Australian bourse filing.The company plans to conduct resource extension drilling along strike and down dip, including diamond core drilling to facilitate metallurgical test work, per the filing.All indications from historic production show amenability to conventional carbon-in-leach processing, the company said.
Huaqin Technology's (SHA:603296) attributable profit rose 26% to 1.06 billion yuan in the first quarter from 842 million yuan in the year-ago period, according to a Thursday filing with the Shanghai bourse.Earnings per share at the personal electronics manufacturer increased 25% to 1.04 yuan from 0.83 yuan in the prior-year period.Operating revenue grew 16% year over year to 40.7 billion yuan from 35 billion yuan.
Emerald Resources (ASX:EMR) shareholder BlackRock Group has reduced its stake in the company to about 54.7 million shares from 62.3 million shares, according to a Friday filing with the Australian bourse.The reduction lowers BlackRock's voting power in the company to about 8.3% from roughly 9.5%, per the filing.Shares of Emerald Resources gained 1% in recent Friday trade.