Live updates: Oil prices rest on Israel-Iran war, markets mixed as both sides attack and fears grow
With the Middle East risking a broader conflict, overseas markets are mixed.
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News.com.au
an hour ago
- News.com.au
Break it Down: Victory Metals wins Saudi backing in US$10m deal
Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully unpacks Victory Metals (ASX:VTM) latest news, who have received US$10 million from Saudi Arabia to advance its North Stanmore rare earths project. The loan facility is from Sanabil Investments, a sovereign investment firm wholly owned by the Public Investment Fund of the Kingdom of Saudi Arabia. Tune in to hear all about it. While Victory Metals is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Victory Metals wins Saudi backing in US$10m deal
SBS Australia
3 hours ago
- SBS Australia
Iran denies ceasefire agreement with Israel
Iran denies reports of Qatar-brokered ceasefire, despite US President's post Richard Marles says Australia will choose optimal path in AUKUS submarine deal Atletico Madrid ousted from Club World Cup Iran is denying widespread reports that it has reached a ceasefire deal with Israel, brokered by Qatar. The news first broke via Donald Trump on social media. The United States president posted on his own platform, Truth Social this morning saying the countries had agreed to a total and complete ceasefire. Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani had reportedly secured Tehran's agreement to the White House' proposal for a halt in the conflict between Israel and Iran, during a call with Iranian officials. The number of Australians who have registered for assistance to leave the Middle East now stands at around 2,900 in Iran and 1,300 in Israel. Foreign Minister Penny Wong says Australia suspended bus evacuations from Israel following the U-S attack on Iranian nuclear facilities but is preparing for potential evacuations if airspace is reopened over Israel. Australia has also sent two aircraft to the Middle East, to assist with civilian evacuations. The Prime Minister and Senator Wong say Australia's security agency ASIO [[ay-zee-oh]] is continuously monitoring terror threat levels and there are currently no changes to travel advice. "There are always risks - not only from escalation in the region, but also potential risks more broadly. I have indicated publicly that I have asked my department to consider whether - if there is any alteration to travel advice more generally." Defence Minister Richard Marles has declined to comment whether the government would be prepared to boost investment in the US industrial base, to secure nuclear submarines. Experts have raised concerns that Australia could be forced to increase its investment or miss out on acquiring a vital stop-gap capability. Speaking at a press conference in London, Mr Marles insisted Australia is focused on pursuing the best path. As part of the trilateral AUKUS pact, Australia has committed $3 billion to helping the U-S improve its defence manufacturing, in exchange for being allowed to purchase Virginia class submarines. Australia could potentially have Virginia class submarines from 2032. "We are working at a pace to implement the AUKUS arrangement, and this is a major step forward for both the United Kingdom and Australia. I mean - underpinning AUKUS will be the idea that in the future Australia and the U-K will be operating at the same class of submarine. That's a very significant step to take in terms of binding our two countries together and there's much work to do to achieve that." A jury which will decide the fate of a woman accused of murdering three people with toxic mushrooms, is set to return to a regional Victorian court this week, to receive the trial judge's final directions. 50-year-old mother of three, Erin Patterson denies she intentionally poisoned four members of her estranged husband's family when she served them a beef Wellington allegedly containing death cap mushrooms for lunch in July 2023. Justice Christopher Beale is set to spend two days giving his final directions to the jury in the court in Morwell, about two hours east of Melbourne. The jury will then deliberate on whether Ms Patterson is guilty or not guilty of three murders and one attempted murder. The Queensland state government is set to walk back cost-of-living relief measures when it hands down its budget today, as it looks at long-term budget repair before hosting the 2032 Olympics. Queensland's Liberal National government is promising a "responsible" budget, after winning the 2024 election, ending Labor's nine-year tenure. Queensland Premier David Crisafulli spoke to Channel Seven's Sunrise program earlier, saying they are doing everything they can to fulfill the government's election promise. "That is to lift home ownership. Home ownership rates in Queensland are at 63.5 per cent. That's the lowest in the country, and my vision is to go from last to first within a decade. And we're doing everything we can to get people into a home." Treasurer David Janetzki is looking at bringing down Queensland's projected total debt of almost $220 billion, ahead of the 2032 Brisbane Games. Under the former Labor government's 2024 budget, Queenslanders were treated to $1000 energy rebates and a 20 per cent reduction in car registration costs. And in football, a late strike from Antoine Griezmann has handed Atletico Madrid a 1-0 win over Botafogo - but the victory could not save the Spanish giants from a group stage exit at the Club World Cup. Following Paris St Germain's 2-0 over Seattle Sounders in Monday's other Group B game, the French side finished level on six points with Botafogo and Atletico. However, European champions PSG secured top spot thanks to a superior goal difference, with South American champions Botafogo also advancing to the last 16 after finishing second. Atletico, in third, and Seattle, bottom with no points after three games, were eliminated. PSG will face the Group A runners-up on Sunday, while Brazil's Botafogo will take on the Group A winners on Saturday.
News.com.au
3 hours ago
- News.com.au
Top 10 at 11: ASX surges as Iran-Israel conflict fizzles out; GBM Resources leads early gainers
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. ASX flying high, up almost 1% The '12-day war' between Israel and Iran may have just quietly come to a close, after US President Trump announced the two countries had agreed to a staged ceasefire. While Iran did attack a US military base in Qatar, it was thankfully a token retaliation with plenty of warning. Both the US and Qatar were given a heads-up about the incoming missile barrage several hours before it launched, giving Qatar time to close its airspace and US forces to shelter in place. There were no injuries from the attack, and markets responded like the missiles were waving white flags, roaring back to life after almost two weeks of off-risk trading. The ASX is responding in kind this morning, adding 0.97% as of about 10:30 am AEST, with every sector bar energy and utilities on the up. Oil prices tumbled more than 7% to US$71.48 a barrel of Brent overnight, and have fallen even further this morning, down another 3.5% to US$68.92 a barrel. The ASX All Ords Gold is also dragging as an apparent return to normality dampens demand for gold, while the All Tech and Banks Indexes are flying, up more than 1% each. Let's see who else is celebrating as the threat of war fades… WINNERS Code Name Last % Change Volume Market Cap GBZ GBM Rsources Ltd 0.013 117% 26018785 $7,026,420 AXP AXP Energy Ltd 0.0015 50% 5007393 $6,684,681 JAY Jayride Group 0.0015 50% 300001 $1,427,889 LNR Lanthanein Resources 0.0015 50% 2000000 $2,810,182 MEL Metgasco Ltd 0.003 50% 100000 $3,665,173 TMK TMK Energy Limited 0.003 50% 46897 $20,444,766 SPQ Superior Resources 0.004 33% 429638 $7,112,948 SRL Sunrise 0.815 25% 193018 $71,647,874 OVT Ovanti Limited 0.0025 25% 2145407 $6,011,030 INF Infinity Lithium 0.017 21% 695086 $6,616,289 In the news... GBM Resources (ASX:GBZ) will soon be well-funded and debt-free, if the company's fund raising and reconsolidation plans resolve as expected. GBZ is looking to offload a $6.2m convertible note debt facility with Collins St Asset Management by raising $13m through a placement that will see incoming chair Ian Middlemas subscribe for $1.2m in shares. The company has also reached an agreement with farm-in partner Wise Walkers to reconsolidate full ownership of the Twin Hills gold asset, converting $2m already spent on the farm-in into equity in GBZ. If all goes as planned, GBZ will be unencumbered by debt, with full ownership of its 1.84-million-ounce gold inventory across the Twin Hills and Yandan projects. LAGGARDS Code Name Last % Change Volume Market Cap GMN Gold Mountain Ltd 0.001 -33% 86226800 $8,429,639 HLX Helix Resources 0.001 -33% 2000000 $5,046,291 JAV Javelin Minerals Ltd 0.002 -33% 2410345 $18,378,447 TEG Triangle Energy Ltd 0.002 -33% 2946596 $6,267,702 HCD Hydrocarbon Dynamics 0.0015 -25% 2185 $2,156,219 WBE Whitebark Energy 0.003 -25% 30000 $2,749,334 CUL Cullen Resources 0.004 -20% 1366467 $3,467,009 AZL Arizona Lithium Ltd 0.005 -17% 255412 $31,621,887 DGR DGR Global Ltd 0.005 -17% 1753600 $6,262,176 ANX Anax Metals Ltd 0.006 -14% 6462132 $6,179,653 In the news... Triangle Energy (ASX:TEG) has handed off the Cliff Head Oil JV to Pilot Energy (ASX:PGY), completing the sale of the asset in return for $7.5m as well as up to another $7.5m in royalties. Anax Metals (ASX:ANX) has launched an arbitration notice with the Singapore International Arbitration Centre after failing to reach a marketing agreement with a cornerstone investor. The investor made commitments via convertible note subject to conditions including the grant of exclusive marketing rights for 100% of commodities produce by Anax's projects. The two parties were unable to agree to terms, with Anax alleging the convertible noteholder did not negotiate in good faith. The company is therefore seeking a declaratory relief to clarify the legal rights and obligations of both parties.
