Australian shares edge higher as energy stocks rally
The Australian share market has shrugged off a weak Wall Street session to push higher, as escalating tensions in the Middle East light a match under energy stocks.
By midday, the S&P/ASX200 gained 24.4 points, or 0.28 per cent, to 8,617.3 as the broader All Ordinaries rose 24.4 points, or 0.28 per cent, to 8,844.1.
The tentative start came after the top-200 hit a fresh intraday peak of 8,639 on Wednesday.
However, Iranian threats against US bases in the Middle East and disappointment over a US-China trade agreement "framework" weighed on sentiment.
"US stock markets finished lower overnight following a sharp escalation in Middle Eastern geopolitical tensions and the realisation that yesterday's much-hyped US-China trade deal merely maintains the status quo of elevated tariffs agreed in Geneva and offered little new," IG Markets analyst Tony Sycamore said.
Under the agreement, the US will impose a 55 per cent tariff on imports from China, while China will grant US export licenses for rare earths and magnets and gain eased restrictions on international students.
While investors' reactions to the development have been subdued, US President Donald Trump has hailed them a success.
"WE ARE GETTING A TOTAL OF 55% TARIFFS, CHINA IS GETTING 10%. RELATIONSHIP IS EXCELLENT!" Trump wrote on Truth Social.
Eight of 11 local sectors were in the green by lunchtime, with energy stocks surging 1.8 per cent higher after the tensions with Iran sent oil prices to two-month highs.
Brent crude futures are up more than four per cent since Wednesday, trading at $US68.90 a barrel.
Australia's financial sector was up 0.4 per cent with all big four banks in the green but none by more than 0.4 per cent by lunchtime.
Materials weighed on the bourse, down 0.3 per cent and the worst performing sector, with large caps BHP (-0.8), Rio Tinto (-1.2 per cent) and Fortescue (-.19 per cent) all trading lower.
Geopolitical concerns helped push investors to the safe have of gold, with futures up 1.4 per cent to $US3,395 ($A5,235) an ounce, and sending miners in the precious metal higher.
Genesis Minerals was the top-200's best performer, up 5.4 per cent and followed by Qantas, up more than four per cent a day after announcing plans to scrap its Jetstar Asia arm.
Monash IVF rallied more than seven per cent after chief executive Michael Knaap resigned following its latest mistaken embryo scandal.
Hearing device manufacturer Cochlear is up 0.4 per cent after it trimmed forward guidance but launched its latest generation implant.
The Australian dollar is buying 64.87 US cents, down from 65.13 US cents on Wednesday at 5pm.
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The Advertiser
26 minutes ago
- The Advertiser
2025 Chery Tiggo 8 Super Hybrid PHEV offers seven seats and 1200km range
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The Pro 8 SH is front-wheel drive only and uses a 'dedicated hybrid transmission' with a combined fuel figure of 1.3L/100km. Both the Sealion 7 and Outlander Plug-in Hybrid EV offer AWD, for reference. As noted earlier, the 18.3kWh lithium iron phosphate (LFP) battery offers up to 80km (NEDC) of EV range, which like the Tiggo 7 SH, can drive at speeds up to 120km/h when state of charge is 30 per cent or above. When it comes time to recharge, the Tiggo 8 Super Hybrid can charge at a rate of up to 40kW via a DC fast charger to replenish 80 per cent charge in 20 minutes. The arrival of a plug-in hybrid (PHEV) version sees the seven-seat large SUV drop the 'Pro Max' name to become the simpler 'Tiggo 8'. Key rivals include the Mitsubishi Outlander, Hyundai Santa Fe and upcoming BYD Sealion 8. 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The Urban also has a panoramic roof with powered sunshade, rear privacy glass and illuminated scuff plates. Standard on all models are adaptive cruise control, lane-keep assist and AEB, as well as nine airbags – including curtain airbags extending into the third row. Chery Australia posted yet another sales record in May 2025 with 2755 new registrations, only 18 cars behind Nissan and ahead of Volkswagen. The Tiggo 7 Pro and Tiggo 8 Pro Max ranges have returned 1469 and 1179 new registrations year to date to the end of May respectively. MORE: Everything Chery Tiggo 8 Content originally sourced from: The 2025 Chery Tiggo 8 Super Hybrid PHEV arrives in Australian showrooms in July, priced from $45,990 drive-away. Two model grades will be offered – the Urban ($45,990 D/A) and flagship Ultimate ($49,990 D/A). Both versions offer three rows of seating and up to 80km (NEDC) of electric driving range per charge of their 18.3kWh LFP battery pack. 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When it comes time to recharge, the Tiggo 8 Super Hybrid can charge at a rate of up to 40kW via a DC fast charger to replenish 80 per cent charge in 20 minutes. The arrival of a plug-in hybrid (PHEV) version sees the seven-seat large SUV drop the 'Pro Max' name to become the simpler 'Tiggo 8'. Key rivals include the Mitsubishi Outlander, Hyundai Santa Fe and upcoming BYD Sealion 8. The plug-in hybrid seven-seat SUV gets the same Super Hybrid exterior treatment as the Tiggo 7 SH, which encompasses a diamond-cut front grille differentiating it from petrol versions, but with larger 19-inch alloy wheels, power-retractable door handles, puddle lights as well as LED headlights and tail lights on both grades. The interior is trimmed with synthetic leather upholstery as standard, with a six-way power adjustable driver's seat, 10.25-inch driver's instrument cluster and 15.6-inch centre infotainment display, all themed with colour selectable ambient lighting. Tech includes 'Hello Chery' voice commands, a 50W wireless smartphone charger as well as Apple CarPlay and Android Auto connectivity. Stepping into the Ultimate adds a driver's head-up display, heated and ventilated front seats – with the driver's seat gaining a massage function and speakers integrated into the head restraints. The Urban also has a panoramic roof with powered sunshade, rear privacy glass and illuminated scuff plates. Standard on all models are adaptive cruise control, lane-keep assist and AEB, as well as nine airbags – including curtain airbags extending into the third row. Chery Australia posted yet another sales record in May 2025 with 2755 new registrations, only 18 cars behind Nissan and ahead of Volkswagen. The Tiggo 7 Pro and Tiggo 8 Pro Max ranges have returned 1469 and 1179 new registrations year to date to the end of May respectively. MORE: Everything Chery Tiggo 8 Content originally sourced from: The 2025 Chery Tiggo 8 Super Hybrid PHEV arrives in Australian showrooms in July, priced from $45,990 drive-away. Two model grades will be offered – the Urban ($45,990 D/A) and flagship Ultimate ($49,990 D/A). Both versions offer three rows of seating and up to 80km (NEDC) of electric driving range per charge of their 18.3kWh LFP battery pack. Chery Tiggo 8 Super Hybrid pricing will be lineball with the entry-level BYD Sealion 7 (from ~$45,500 D/A) and well under the current base price of the pre-facelift Mitsubishi Outlander Plug-in Hybrid EV (from $57,990 D/A). The Tiggo 8 SH will use the same plug-in hybrid powertrain as the five-seat Tiggo 7 SH, meaning a 1.5-litre turbocharged four-cylinder petrol engine making 105kW/215Nm and a single front-axle e-motor with 150kW/310Nm. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. 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The plug-in hybrid seven-seat SUV gets the same Super Hybrid exterior treatment as the Tiggo 7 SH, which encompasses a diamond-cut front grille differentiating it from petrol versions, but with larger 19-inch alloy wheels, power-retractable door handles, puddle lights as well as LED headlights and tail lights on both grades. The interior is trimmed with synthetic leather upholstery as standard, with a six-way power adjustable driver's seat, 10.25-inch driver's instrument cluster and 15.6-inch centre infotainment display, all themed with colour selectable ambient lighting. Tech includes 'Hello Chery' voice commands, a 50W wireless smartphone charger as well as Apple CarPlay and Android Auto connectivity. Stepping into the Ultimate adds a driver's head-up display, heated and ventilated front seats – with the driver's seat gaining a massage function and speakers integrated into the head restraints. 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Tech includes 'Hello Chery' voice commands, a 50W wireless smartphone charger as well as Apple CarPlay and Android Auto connectivity. Stepping into the Ultimate adds a driver's head-up display, heated and ventilated front seats – with the driver's seat gaining a massage function and speakers integrated into the head restraints. The Urban also has a panoramic roof with powered sunshade, rear privacy glass and illuminated scuff plates. Standard on all models are adaptive cruise control, lane-keep assist and AEB, as well as nine airbags – including curtain airbags extending into the third row. Chery Australia posted yet another sales record in May 2025 with 2755 new registrations, only 18 cars behind Nissan and ahead of Volkswagen. The Tiggo 7 Pro and Tiggo 8 Pro Max ranges have returned 1469 and 1179 new registrations year to date to the end of May respectively. MORE: Everything Chery Tiggo 8 Content originally sourced from:
The Advertiser
26 minutes ago
- The Advertiser
'Completely oblivious': unknown Aussie becomes $100 million lottery winner
One Australian has woken up $100 million richer after the entire Powerball jackpot was pocketed by a single winner. Powerball officials were searching for the multi-millionaire on June 13 as the ticketholder had not registered their contact information. But officials believe they have narrowed the likely location to Sydney's Eastern Suburbs. "There are 100 million reasons why all Sydney players who had an entry in this week's draw should check their ticket as soon as possible," The Lott spokesperson Matt Hart said. READ MORE: Powerball's least drawn numbers "Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet. We can't wait for them to discover this winning news." The unknown ticketholder shares the title of Australia's third-largest lottery winner. The win means another Powerball victory in NSW. In 2024, NSW had the most Powerball division one winning entries with 11 jackpots while Queensland had six, Victoria had two and South Australia and Western Australia each had one. READ MORE: where are Powerball's millionaire hotspots? The winning numbers in the Powerball draw 1517 on June 12 were 28, 10, 3, 16, 31, 14 and 21. The all-important Powerball number was 6. One Australian has woken up $100 million richer after the entire Powerball jackpot was pocketed by a single winner. Powerball officials were searching for the multi-millionaire on June 13 as the ticketholder had not registered their contact information. But officials believe they have narrowed the likely location to Sydney's Eastern Suburbs. "There are 100 million reasons why all Sydney players who had an entry in this week's draw should check their ticket as soon as possible," The Lott spokesperson Matt Hart said. READ MORE: Powerball's least drawn numbers "Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet. We can't wait for them to discover this winning news." The unknown ticketholder shares the title of Australia's third-largest lottery winner. The win means another Powerball victory in NSW. In 2024, NSW had the most Powerball division one winning entries with 11 jackpots while Queensland had six, Victoria had two and South Australia and Western Australia each had one. READ MORE: where are Powerball's millionaire hotspots? The winning numbers in the Powerball draw 1517 on June 12 were 28, 10, 3, 16, 31, 14 and 21. The all-important Powerball number was 6. One Australian has woken up $100 million richer after the entire Powerball jackpot was pocketed by a single winner. Powerball officials were searching for the multi-millionaire on June 13 as the ticketholder had not registered their contact information. But officials believe they have narrowed the likely location to Sydney's Eastern Suburbs. "There are 100 million reasons why all Sydney players who had an entry in this week's draw should check their ticket as soon as possible," The Lott spokesperson Matt Hart said. READ MORE: Powerball's least drawn numbers "Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet. We can't wait for them to discover this winning news." The unknown ticketholder shares the title of Australia's third-largest lottery winner. The win means another Powerball victory in NSW. In 2024, NSW had the most Powerball division one winning entries with 11 jackpots while Queensland had six, Victoria had two and South Australia and Western Australia each had one. READ MORE: where are Powerball's millionaire hotspots? The winning numbers in the Powerball draw 1517 on June 12 were 28, 10, 3, 16, 31, 14 and 21. The all-important Powerball number was 6. One Australian has woken up $100 million richer after the entire Powerball jackpot was pocketed by a single winner. Powerball officials were searching for the multi-millionaire on June 13 as the ticketholder had not registered their contact information. But officials believe they have narrowed the likely location to Sydney's Eastern Suburbs. "There are 100 million reasons why all Sydney players who had an entry in this week's draw should check their ticket as soon as possible," The Lott spokesperson Matt Hart said. READ MORE: Powerball's least drawn numbers "Someone has become an overnight mid-week multi-millionaire but possibly doesn't know it yet. We can't wait for them to discover this winning news." The unknown ticketholder shares the title of Australia's third-largest lottery winner. The win means another Powerball victory in NSW. In 2024, NSW had the most Powerball division one winning entries with 11 jackpots while Queensland had six, Victoria had two and South Australia and Western Australia each had one. READ MORE: where are Powerball's millionaire hotspots? The winning numbers in the Powerball draw 1517 on June 12 were 28, 10, 3, 16, 31, 14 and 21. The all-important Powerball number was 6.
Perth Now
29 minutes ago
- Perth Now
Casino giant slapped down in latest poker machine bid
Australia's largest casino group will not be permitted to run pokies as fallout continues from a damning report into a major poker machine regulator. NSW Premier Chris Minns on Friday ruled out moving legislation to allow Crown's Sydney casino to install poker machines. It followed reports the gaming giant was lobbying MPs to overcome the legal obstacle as their licence does not permit pokies. "This is a legislative imposition that's been put in place in the state for over a decade," the premier said. "It would require a bill, presumably, from the government, to knock over that restriction, and I'm not going to do it." The government did not indicate its position if a non-government MP tried to move legislation supporting Crown's position. But there is no suggestion any MP would make that move. Independent Sydney MP Alex Greenwich said allowing pokies in Crown's waterfront casino at Barangaroo would betray the community's agreement to give away public land for a restricted gaming facility without poker machines. Gaming tables at the towering complex opened a year late in 2022 after an inquiry found Crown was not fit to operate a casino, forcing it into three years of remediation. "With gambling harm on the rise, we need less venues with large poker machine floors, not new ones right on the harbour," Mr Greenwich said. He referenced a NSW auditor-general report released on Thursday that found regulators were failing in harm-minimisation efforts. The report also found licence conditions were not being pro-actively reviewed and little was done to force pokie venues to take meaningful actions when problem gambling was noticed. Poker machine numbers have increased under the state Labor government, with NSW having half of all Australian pokies in 2022/23. Profits from the machines hit all-time highs of $8.4 billion in the 2023/24 financial year. That delivered $2.3 billion in tax revenue, a figure tipped to hit $2.9 billion by 2027/28. Gambling reform advocates found the report unsurprising and lamented government inaction in the reform space. An independent panel in 2024 recommended mandatory cashless gaming be introduced state-wide, but the government has not followed through. "This inaction privileges the special pleading of a harmful and predatory industry over and above the health and wellbeing of the people of NSW," Wesley Mission chief executive Reverend Stu Cameron said.
