Australian shares are sharply higher around midday, with the S&P/ASX 200 up 107 points, or 1.23%, to 8,787.5 at 12:25pm AEST, as optimism over a potential ceasefire between the US and Iran improves global risk sentiment.
The rally follows gains on Wall Street overnight, where the Nasdaq hit another record high. Financials lead the local market higher after the Reserve Bank lifted the cash rate to 4.35% on Tuesday, with all four major banks rising. Industrials are also firmer, while energy stocks lag as Brent crude slips below US$108 a barrel amid signs tensions in the Middle East may be easing. In company news, DigiCo surged after agreeing to sell its Chicago data centre site for $1 billion as it shifts focus to Sydney expansion. JB Hi-Fi shares fell after warning of higher supplier costs and stock shortages linked to data centre demand, while Regis Resources and Vault Minerals both dropped following their proposed merger announcement.
In other company news,
Anteris treats first U.S. patients in PARADIGM trial
Anteris Technologies (ASX: AVR) has reached a major milestone, with the first U.S. patients now enrolled and successfully treated in its global PARADIGM trial of the DurAVR® transcatheter heart valve. The landmark procedures, performed in New York delivered “highly encouraging” early results, according to lead investigator Dr Azeem Latib. This marks a pivotal step as U.S. sites ramp up recruitment for the head to head study, which will compare DurAVR® against existing TAVR devices in around 1,000 patients.
Caprice strikes bonanza gold in new parallel zone
Caprice Resources (ASX: CRS) has hit a standout result at the Island Gold Project, drilling 22 metres at 66.2 grams per tonne of gold, including 8 metres at 181 grams per tonne, in a newly discovered high grade zone about 120 metres parallel to the Vadrians lode. The shallow strike, from just 42 metres downhole, sits in a weathered shear zone and could signal a new style of mineralisation at the project. Additional strong results from Vadrians further support Island’s potential as a multi lode, high grade system.
Noxopharm moves closer to US market
Noxopharm (ASX: NOX) is stepping up its US regulatory game, engaging global CRO Novotech as it prepares for a crucial pre IND meeting with the US Food and Drug Administration, a key gateway to launching clinical trials in America. The company is now assembling the data package needed to map out SOF SKN’s development pathway. SOF SKN is being developed to treat chronic skin inflammation caused by cutaneous lupus, a condition that sits within a global market worth over US$3.3 billion.
Redcastle charges toward first gold
Redcastle Resources (ASX: RC1)is wasting no time shifting from explorer to producer, with heavy equipment already on site and blast hole drilling underway at its Queen Alexandra and Redcastle Reef deposits. Thanks to its capital light joint venture with BML Ventures – which provides the fleet, workforce and secured processing in Wiluna – Redcastle is on track to begin mining by late May, marking a rapid and defining leap into gold production.
