Australian shares traded lower in a choppy session on Tuesday, as investors weighed tentative optimism around Middle East diplomacy against uncertainty ahead of a potential US–Iran ceasefire deadline.
The S&P/ASX 200 slipped 18 points, or 0.2%, to 8,935.30 by 12.14pm AEST, moving within an intraday range of 8,911.5 to 8,976.1.
Global sentiment remained tied to developments in the Middle East, with markets focused on whether the US and Iran can resume negotiations aimed at easing tensions and reopening the Strait of Hormuz. An initial round of talks in Islamabad ended without agreement.
SPI Asset Management managing partner Stephen Innes said markets were factoring in the possibility of progress, though not a guaranteed outcome.
“The focus is almost singular now — whether negotiations can ultimately reopen the Strait of Hormuz,” he said, noting broader market attention remained fixed on incremental developments.
Brent crude eased 0.5% during Asian trade to US$95 per barrel, reflecting shifting expectations around supply risks.
Energy stocks were the weakest performers, tracking softer oil prices. Woodside Energy fell 1.8% and Santos dropped 1.5%. Viva Energy rebounded 3.5% after a sharp 9% decline in the previous session.
Technology and consumer staples provided support to the benchmark. WiseTech Global gained 0.9% and Xero advanced 1.1%, while supermarket majors Coles and Woolworths rose 0.4% and 0.8% respectively.
Small caps index moves higher
The S&P/ASX Small Ordinaries Index rose 0.59% to 3,560.0, gaining 20.9 points on the day and 1.7% over the past five sessions. It has been a busy morning for small-cap news. You can catch up with the latest below.
Aurum expands Boundiali gold resource potential
Aurum Resources Ltd (ASX:AUE) reported further drilling success from its 3.03Moz Boundiali Gold Project in Côte d’Ivoire, with results from 40 diamond holes totalling 12,093.3 metres.
The program forms part of a broader 100,000-metre campaign aimed at expanding mineral resources and improving geological confidence across the project.
Far East Gold confirms strong recovery potential
Far East Gold Ltd (ASX:FEG) has received preliminary metallurgical results from the Sua prospect at Idenburg, indicating strong gold recovery potential using conventional processing methods.
Test work conducted in Indonesia supports earlier findings from 2007 and suggests gravity and leach techniques could deliver high recoveries, subject to further optimisation.
Solis Minerals secures Brazil lithium project
Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has completed the acquisition of the Brazil Lithium Project, a 93,000-hectare exploration package in Minas Gerais’ Araçuaí–Salinas Lithium Valley.
The region is emerging as a globally significant lithium district, positioning the company to expand its footprint in the battery metals sector.
Ora Banda extends high-grade mineralisation at Waihi
Ora Banda Mining Ltd (ASX:OBM, OTC:ESGFF, FRA:M6N) reported continued drilling success at its Waihi Project, expanding high-grade zones at the Golden Pole lode.
Recent results included multiple high-grade intercepts, with several exceeding 100 gram-metres, supporting ongoing resource growth and extension potential beneath historic workings.
Janus Electric strengthens leadership team
Janus Electric Holdings Ltd (ASX:JNS) has appointed Simon Fitzgerald as general manager of production and engineering, alongside Michael Cummings as senior adviser to the board.
The appointments are aimed at supporting the company’s next phase of growth and commercial rollout.
Percheron presents oncology data at AACR
Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) presented new data at the American Society for Cancer Research annual meeting in San Diego, highlighting progress in its oncology and rare disease pipeline.
Recce Pharmaceuticals advances Phase 3 program
Recce Pharmaceuticals Ltd (ASX:RCE, OTC:RECEF) said Indonesia’s drug regulator has completed a routine inspection of a Phase 3 clinical trial site for its anti-infective candidate R327.
The inspection marks a key regulatory step as the company advances late-stage development activities.