Australian shares experienced wavering performance near midday AEDT, with gains in silver and gold prices boosting mining stocks. BHP Group’s share price reached a record high, surpassing $55 per share. Woodside Energy, a leading Australian oil and gas company, reported a 24 per cent drop in profit due to weaker oil and gas prices, despite achieving record production in 2025.
In other company news, Kelsian Group, a provider of public transport and tourism services, announced the sale of a $161 million unit. Monadelphous Group, an engineering company, exceeded market expectations. Meanwhile, ARB Corporation, an auto parts manufacturer, saw its shares decline, and Adore Beauty, an online beauty retailer, also experienced a slide in its stock price.
Elsewhere, former Reserve Bank of Australia (RBA) governor Bernie Fraser has called for the abolishment of the capital gains tax (CGT) discount, arguing it would be a positive step for fiscal policy. Spotlight billionaires have reportedly acquired an upmarket Toorak property for $184 million, marking one of the biggest deals in Melbourne’s suburban commercial property market in recent times.
