Australian shares were higher in the afternoon, with the S&P/ASX 200 up 0.4 per cent to 8,638.9 at 12:13pm AEST as investors looked to renewed tensions in the Middle East and focused on the defense and consumer-facing sectors. Brent crude briefly rose above US$93 a barrel after fresh US attacks on Iran, although markets were reassured that diplomatic talks were on track. Wall Street took a subdued lead overnight as investors awaited the expected SpaceX IPO later this week. Consumer stocks led the market higher, with Woolworths and Coles moving strongly, while Wesfarmers gained after outlining growth initiatives focused on artificial intelligence, data monetization and Bunnings’ addressable market expansion. Mining stocks were mixed, with BHP recovering from recent losses while weaker gold prices weighed on Newmont and Genesis Minerals. Technology was the weakest sector, with Xero, WiseTech Global and NextDC all trading lower.
In other company news,
Clever Culture Systems wins CSL’s evaluation contract.
Askari confirmed the scale of Namibia’s key minerals target.
Askari Metals (ASX: AS2) reported strong trench results from the K9 target at its Uis project in Namibia, which assayed up to 4,050ppm tin, 0.29% lithium oxide and 215ppm tantalum. The results confirm the 950m long polymetallic system and support planned RC and diamond drilling later this year, the company said.
dorsaVi enhances robotics and AI strategy.
dorsaVi (ASX: DVL) has licensed two robotics technologies from Nanyang Technological University Singapore, including a humanoid robot safety control system and a platform that enables robots to learn from real-world movement data. The company said the deal strengthens its position in collaborative robotics, rehabilitation exoskeletons and AI-powered automation.
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