Australian shares are lower at midday, with the S&P/ASX 200 down 0.6% to 8,694.70 at 12:20pm AEST, as renewed Middle East tensions and a sharp sell-off in CSL weigh on sentiment. Brent crude climbs above US$104 a barrel after the US rejected Iran’s latest proposal to end the conflict, prolonging uncertainty around the Strait of Hormuz and global energy supplies. Healthcare is the weakest sector after CSL slumped to an 11-year low following a weaker profit outlook and a US$5 billion writedown announcement. Financials are also lower, with the major banks under pressure and ANZ trading ex-dividend. Gains in materials and energy partially offset broader losses, with higher oil prices supporting Woodside and Santos, while Dyno Nobel jumps after reporting first-half earnings ahead of expectations and reaffirming guidance.
In other company news,
MyEco expands Woolworths range with certified recycled bin liners
MyEco Group (ASX: MCO) launched a new range of 95% post-consumer recycled bin liners exclusively through Woolworths, with national in-store availability scheduled from 25 May 2026. The three-product range is certified under the Global Recycled Standard, making it the first fully GRS-certified post-consumer recycled bin liner range sold through a major Australian supermarket. The launch doubled MyEco’s Woolworths product footprint to six products and expanded its exposure to the growing recycled packaging market. The company said the range supports Australia’s National Plastics Plan and packaging targets by providing a certified alternative to virgin plastic products, while addressing concerns around unverified recycled-content claims in the soft plastics sector.
Bioxyne expands LATAM footprint with Costa Rica cannabis supply deal
Bioxyne (ASX: BXN) secured an expanded supply agreement with Remidose LATAM to supply three Dr Watson medicinal cannabis flower products into Costa Rica, marking the first international supply of medicinal cannabis flower into the country’s regulated market. The initial shipment is expected before 30 June 2026, with invoice value set to exceed $500,000. The agreement expanded Bioxyne’s existing relationship with Remidose, which already includes supply of cannabis pastilles into Costa Rica and Panama. The company said the deal established an early distribution foothold in the emerging LATAM medicinal cannabis market, with further growth opportunities expected through Remidose’s regional network and broader rollout of the Dr Watson brand.
Olympio lifts Bousquet stake as Dufay divestment boosts cash position
Olympio Metals (ASX: OLY) increased its ownership of the Bousquet Gold Project in Quebec to 51% after meeting the required option commitments, with further field activities and drilling set to recommence later this month. The company said follow-up work would target recent high-grade intercepts, including 19.4 metres at 17.29 grams per tonne gold from the Phase 2 drilling program. Olympio also completed the sale of its Dufay Gold Project in Quebec, ultimately receiving total cash consideration of C$684,000 following the takeover of Fokus Mining Corp. The company said the divestment streamlined its portfolio and strengthened funding for exploration at Bousquet, alongside recently acquired critical minerals projects in Montana and Idaho.
Merino & Co secures $1.1 million China purchase order
Merino & Co. (ASX: MNC) secured a $1.1 million purchase order from its China distribution partner, covering a range of wool garments and accessories. The order marked the first major commercial milestone following the company’s recently announced Exclusive China Distribution Agreement. The company said the order provided near-term revenue visibility and validated demand for its products in the Chinese market. Merino & Co. has commenced production planning to fulfil the order under agreed delivery timelines as it expands its international distribution footprint.
