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Australian Shares flat; Deep Yellow Awards Two Construction Contracts Worth AU$34 Million for Namibia Uranium Project

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Australian shares were flat on Monday as a surge in oil prices fanned concerns over a potential spike in inflation.

The S&P/ASX 200 Index was little changed to close at 8,791.30.

Brent crude oil futures surged over ⁠2% to over $90 per barrel as the conflict in the Middle East escalated and the US and Iran continued to trade strikes.

Meanwhile, gold steadied to trade around $4,010 per ounce after falling below the $4,000-mark in the previous week.

On the domestic front, goods imports are driving the trend of imports accounting for a larger share of domestic demand in Australia than at any time since the quarterly national accounts began in the September quarter of 1959, ANZ said.

In company news, Deep Yellow (ASX:DYL) awarded two civil and concrete construction contracts with an aggregate value of about AU$34 million for its Tumas uranium project in Namibia.

Weebit Nano (ASX:WBT) upgraded its fiscal year 2026 revenue guidance to at least AU$13.5 million from a previous expectation of at least AU$12 million.

Coast Entertainment (ASX:CEH) secured Queensland Government approval for the development application in relation to its Coomera landholding, made in September 2023.

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