Market Update: Real estate opens ASX door into the green zone

The ASX is up more than half a per cent – beating future’s earlier predictions. – with every sector in the green, aside from industrials and healthcare.

Real estate is having a particularly strong run – the sector is up nearly 1.8% mid-session.

In company news

Qantas Airways (ASX:QAN) is up nearly .05 of a per cent after finalising an agreement with the ACCC to resolve court proceedings related to its flight cancelations and misleading allegations.

Qantas admitted advertising flights for already cancelled ones and has now agreed to pay $20 million in payments to customers and a $100 million penalty for misleading consumers.

Customers who have had flights cancelled could receive up to $450 back from the company.

QAN has been trading at $5.88.

Westpac Bank (ASX:WBC) is up more than 2.5% after declaring a fully franked 15 cent special dividend to its investors, in a move that appears designed to quell concerns over profits.

Westpac has blamed mortgage competition for pushing down profits 16% compared to the first half of the 2023 financial year.

WBC has been trading at $27.12.

Tamboran Resources (ASX:TBN) is up more than 6% after laying out its intentions to list on the NYSE under the ticket code TBN.

The company’s US listing is expected to support the funding of the proposed Shenandoah South Pilot project in the Betaloo sub-basin in the Northern Territory to first gas in the first half of 2026.

TBN has been trading at 17 cents.

And Mantle Minerals (ASX:MTL) is up more than 33% on news it’s kicking off a 122-hole drill run on-site its Mt Berghaus project in Western Australia.

The necessary heritage and program of work approvals have already been received for drilling.