Australian shares moved lower at midday, with the S&P/ASX 200 falling 0.5% to 8,641.30 at 12:14pm AEST as renewed US military strikes in Iran dampened optimism around a potential peace agreement in the Middle East. Brent crude rebounded more than 2% to around US$98 a barrel after the US carried out what it described as defensive strikes on missile launch sites and vessels in southern Iran, reversing some of the previous session’s sharp decline in oil prices. Nine of the 11 sectors traded lower, with energy stocks among the weakest despite the rebound in crude prices. Whitehaven Coal and Yancoal retreated after strong gains in the previous session, while Woodside and Santos also edged lower as Santos flagged a reduction in planned capital expenditure from 2027 to 2030. Real estate stocks weakened after Goodman Group’s earnings growth outlook disappointed investors, while the major banks were mixed. Retail stocks outperformed the broader market, with Wesfarmers higher and Kogan.com surging after reporting stronger-than-expected sales growth in Australia.
In other company news,
ClearVue expands into India through Aria Holding partnership
ClearVue Technologies (ASX: CPV) entered the Indian market through a manufacturing and distribution agreement with Aria Glass Industries, a subsidiary of Qatar-based Aria Holding, to produce and distribute its building-integrated photovoltaic products in India. The deal expands ClearVue’s existing relationship with Alutec and is supported by Aria Holding’s US$240.5 million investment in a new float glass manufacturing facility in Maharashtra. ClearVue said India’s fast-growing construction sector and renewable energy targets present a major opportunity for its solar glazing technology.
NeuroScientific reports strong StemSmart results in Crohn’s disease patients
NeuroScientific Biopharmaceuticals (ASX: NSB) reported positive outcomes from its StemSmart™ Special Access Program for fistulising Crohn’s disease, with four out of five patients achieving a clinical response and no serious adverse events reported. The company has now started planning an Australian Phase 2 clinical trial expected to commence in the second half of 2026.
Lithium Energy to sell graphite assets in $20 million battery materials deal
Lithium Energy (ASX: LEL) agreed to sell its Queensland graphite assets to M Battery Materials for $20 million, comprising $5 million cash and $15 million in shares, with shareholders set to gain exposure to the proposed ASX-listed battery materials company focused on graphite and vanadium projects.
