Australian shares saw the S&P/ASX 200 rising 1.9% to 8,798.2 at 2:00pm AEST, as investors welcomed renewed optimism that a peace agreement between the US and Iran could be reached. Sentiment improved after US President Donald Trump said a deal may be signed as soon as this weekend, easing concerns over a conflict that has unsettled global markets for more than three months. Brent crude fell 1.2% to a two-month low of US$89.30 a barrel on expectations that energy supplies through the Strait of Hormuz could normalise if negotiations progress.
Materials led gains across the market as gold miners rebounded and BHP advanced despite weaker copper prices. Genesis Minerals and Newmont posted strong gains, helping lift the sector, while the major banks recovered from recent selling pressure, with Commonwealth Bank, National Australia Bank, Westpac and ANZ all trading around 2% higher. Energy stocks underperformed as lower oil prices weighed on the sector, with Woodside, Santos and Karoon Energy all retreating. The broad-based rally left nine of the 11 sectors higher and put the benchmark on track for its strongest weekly performance since early April.
In company news, resource and healthcare companies reported exploration success, development milestones and expanding international market opportunities.
Solstice extends Nanadie copper-gold mineralisation beyond resource boundary
Solstice Minerals (ASX: SLS) has extended copper-gold mineralisation beyond the northern boundary of the Nanadie Copper-Gold Project in Western Australia, with initial Phase 2 drilling intersecting wide mineralised zones up to 160 metres beyond the existing resource estimate. Key results included 44 metres at 0.52% copper and 0.14g/t gold, alongside multiple broad mineralised intervals that remain open to the north. The company said mineralisation has now been confirmed over a strike length of approximately 1.2 kilometres and remains associated with a large IP chargeability anomaly. Ongoing RC and diamond drilling is targeting extensions to the existing 40.4-million-tonne resource, with assay results from the first diamond holes expected in coming weeks.
Osmond advances Orión critical minerals scoping study
Osmond Resources (ASX: OSM) says its Scoping Study for the Orión EU Critical Minerals Project in southern Spain remains on track for completion in the third quarter of calendar 2026, with plant design and expected product mix now substantially complete. The company has also commenced drilling holes SOR-07 and SOR-08 to test extensions of high-grade mineralisation within the project’s Zone 1 target area. Results from the new drilling program are expected to contribute to a Mineral Resource Estimate supporting the Scoping Study. Osmond is targeting development of a project prospective for rutile, zircon, hafnium and rare earth elements and aims to capitalise on growing European demand for domestically sourced critical minerals.
TruScreen advances global expansion across key healthcare markets
TruScreen Group (ASX: TRU) provided an update on its international expansion strategy, highlighting progress across China, India, Africa and Central Asia. In China, a study involving almost 15,000 women supported TruScreen’s efficacy as a primary cervical cancer screening tool, with an expert consensus process now underway that could accelerate broader adoption. The company also expects regulatory approval in India within three to six months and is pursuing several public health opportunities, including UNITAID-funded screening programs and planned deployments in Zimbabwe, Uzbekistan and Nigeria. TruScreen said these initiatives support its strategy of expanding access to cervical cancer screening across underserved global markets.
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