Australian shares are lower at midday, with the S&P/ASX 200 down 0.29% to 8952.3 at 12.25pm AEST, as weakness in banks and miners offsets global optimism around potential US–Iran ceasefire talks. Sentiment is also influenced by domestic labour data, with unemployment steady at 4.3%, reinforcing expectations of a possible rate increase. The Australian dollar is stronger, trading near US72 cents, while oil holds around US$95 a barrel.
Across the sectors, energy stocks are weaker, while major banks and materials also weigh on the index, particularly large-cap gold miners. Technology stocks are stronger following recent gains, alongside strength in real estate. In company news, Ora Banda reports record quarterly production and cash flow, AMP and Netwealth deliver strong inflows, ASX rises despite a ratings downgrade, and Orica resumes operations while managing supply disruptions.
In other company news,
Condor completes TEA work programme, advancing Peru exploration strategy
Condor Energy (ASX: CND) has completed its Technical Evaluation Agreement work programme for the TEA-86 area offshore Peru, delivering a comprehensive dataset supporting multi-billion barrel exploration potential. Basin modelling confirms hydrocarbon generation aligned with mapped prospects, positioning the company to progress licence conversion and advance strategic partnering discussions.
Minbos secures funding to complete Cabinda fertiliser project
Minbos Resources (ASX: MNB) has received a US$5.48 million debt terms sheet from Banco de Fomento Angola, complementing an existing US$16 million facility and fully funding construction of its Cabinda Phosphate Fertilizer Plant. The company is moving toward Phase 2 construction and commissioning, alongside cost reduction initiatives.
Taiton begins maiden drilling at Highway copper-gold project
Taiton Resources (ASX: T88) has commenced drilling at its Yogi prospect within the Highway Project in South Australia, targeting IOCG-style mineralisation. The maiden program is testing a significant gravity anomaly in a highly prospective region, with results expected in the coming months.
