Australian shares extended gains at midday, with the S&P/ASX 200 rising 0.5% to 8,704.70 at 12:28pm AEST as investors grew more optimistic that a US-Iran agreement to reopen the Strait of Hormuz may be close. Brent crude fell almost 4% to below US$100 a barrel on expectations that energy flows through the key shipping route could soon resume, easing inflation concerns and improving broader market sentiment. Materials led gains on the ASX as gold prices rose more than 1%, supporting strong advances among gold miners including Resolute Mining, Newmont and Northern Star. Fortescue also traded higher after announcing board changes, including the departure of former chief executive Elizabeth Gaines. Financials were mixed as investors continued assessing the impact of recent federal budget measures on the major banks, while energy stocks weakened alongside the sharp decline in oil prices, with Woodside and Santos both lower.
In other company news,
Adore Beauty eyes FY27 growth as revenue climbs and stores expand
Adore Beauty Group (ASX: ABY) reported FY26 revenue for the first 47 weeks of the financial year rose 7.4% to $193.4 million, while new customer acquisition increased 13.9% over the prior corresponding period. The company said softer consumer spending and increased promotional activity through April and May had weighed on fourth-quarter trading, although second-half gross margins are expected to remain in line with last year at 34.5%. The beauty and wellness retailer said it expects FY26 underlying EBITDA of around $4 million before targeting stronger growth in FY27. Adore Beauty said recent investments in its omni-channel platform, new National Distribution Centre, AI capability and store rollout are expected to support future efficiency gains and margin improvement.
IMEXHS wins Mexico hospital AI imaging contract
IMEXHS (ASX: IME) secured a public tender contract to deploy its Aquila+ medical imaging platform across 20 hospitals and clinics in Zacatecas, Mexico, adding approximately $384,000 in annual recurring revenue plus a one-off implementation fee of $50,000. The rollout includes IMEXHS’ AI workflow automation tools and diagnostic imaging algorithms, with implementation expected to be completed by the end of June and full recurring revenue contribution targeted from September 2026. IMEXHS said the deployment represents one of the most comprehensive AI-integrated radiology rollouts undertaken across a public hospital network to date.
Coronado exits Logan Mining Complex to streamline coal portfolio
Coronado Global Resources (ASX: CRN) agreed to sell its Logan Mining Complex in West Virginia to Phoenix Coal Holdings as part of its strategy to streamline operations and focus on higher-return metallurgical coal assets. The transaction includes the transfer of mining permits, infrastructure and reclamation liabilities, with completion expected in July 2026.Coronado said the divestment is expected to improve free cash flow by removing ongoing holding costs and future rehabilitation obligations, while allowing management to focus capital allocation on its core operations. The sale is not expected to impact near-term production guidance.
