The Australian sharemarket is trading lower in afternoon trade as escalating conflict in the Middle East raises concerns about sustained disruption to energy markets and the potential impact on inflation and global growth. The S&P/ASX 200 is down about 1.13 per cent by 3.30pm, extending weekly losses to roughly 4 per cent and putting the benchmark on track for its weakest week since 2022. Oil remains elevated despite easing slightly in Asian trade, while gold is edging higher as investors seek safe-haven assets.
Selling is broad across the market, with mining stocks under pressure and iron ore producers weaker following reports of tighter trading restrictions in China. Technology stocks are bucking the trend and moving higher. In corporate news, Magellan Financial is higher after the Lowy family disclosed a strategic stake following the company’s merger announcement with Barrenjoey, while SkyCity Entertainment is lower amid potential class action proceedings and uranium miner Deep Yellow is lower after reporting a wider half-year loss.
In other company news,
RLF AgTech wheat trial confirms strong yield and profitability gains
RLF AgTech (ASX: RLF) reported positive results from its 2025 Oldbury wheat trial in Western Australia, which tested the company’s Complete Crop Nutrition Program against standard fertiliser practice. The integrated seed priming and foliar nutrition approach delivered higher yields across all soil types evaluated in the trial. Yield improvements ranged from about 11% to 63% depending on soil conditions, with the program also improving rainfall use efficiency and supporting grain quality outcomes. The company said the results provide commercial validation of its crop nutrition technology and are expected to support broader adoption by Australian wheat growers ahead of the 2026 cropping season.
Viking Mines identifies new exploration targets at Linka tungsten project
Viking Mines (ASX: VKA) completed phase one of a high-resolution magnetic and gravity survey at its Linka Tungsten Project, identifying several priority targets for further exploration. The surveys detected multiple gravity highs coinciding with known areas of surface mineralisation, confirming the effectiveness of the company’s geophysical approach. The program also identified additional anomalies and structural features interpreted as prospective for tungsten mineralisation beneath volcanic cover. Viking said it has expanded the survey area and plans further fieldwork, including mapping, sampling and additional geophysical surveys, to refine targets for future drilling.
Tali Resources identifies new copper and critical mineral prospects in West Arunta
Tali Resources (ASX: TR2) identified three new exploration prospects at its West Arunta Project in Western Australia following a review of historical data and geophysical interpretation. The newly defined targets — Caspian North-East, Gibson West and Verde West — are considered prospective for copper, gold and critical minerals. The prospects display large gravity, magnetic and electromagnetic anomalies associated with major geological structures along the Central Australian Suture. The company said planning is nearing completion for a drilling program that will test these targets as part of the upcoming field season.
