Australian shares are paring earlier gains at midday, with the S&P/ASX 200 up 1.4% to 8702.8 after rising more than 2% earlier in the session. Ten of the 11 sectors are higher, with markets responding to elevated geopolitical tensions. Oil prices are higher, with Brent crude around US$111 a barrel.
Across the sectors, technology stocks are leading gains, while miners are also higher alongside lithium stocks. The major banks are stronger, contributing to the broader market lift. Energy stocks are advancing in line with higher oil prices.
In company news, Bank of Queensland announced a strategic capital partnership, Guzman y Gomez reported higher quarterly network sales, CSL said most US product sales were not expected to be impacted by tariffs, and a2 Milk reached a settlement on shareholder class actions.
In other company news,
NEXTDC launches $1bn hybrid offer backed by La Caisse commitment
NEXTDC (ASX: NXT) launched a A$1.0 billion hybrid securities offer, supported by a binding commitment from Canadian investor La Caisse for the full amount. The funding is intended to support the company’s growth strategy, including development of new data centre capacity and expansion of its asset portfolio. The securities provide long-term, subordinated capital with a five-year non-call period and are expected to enhance financial flexibility.
Core Lithium awards mining contract to restart Finniss operations
Core Lithium (ASX: CXO) awarded a surface mining contract to NRW for open pit mining at the Grants deposit within its Finniss Lithium Operation in the Northern Territory. Mobilisation is set to begin immediately, with ore production targeted from May 2026. The restart plan provides access to approximately 784kt of ore, supporting near-term production and a staged ramp-up alongside underground development at BP33.
OD6 Metals reports high-grade fluorspar results at Quinn project
OD6 Metals (ASX: OD6) reported initial rock chip assay results from the Mammoth prospect at its Quinn Fluorspar Project in Nevada, with grades of up to 53.2% CaF₂. The results confirmed high-grade mineralisation across a defined target zone and indicated potential extensions beyond previously mapped areas, with further assays pending and exploration programs advancing.
