Service Stream (ASX:SSM) said Pinnacle Investment Management Group (ASX:PNI) boosted its voting power in the firm to 6.22% from 5.19% as of May 28, according to a Tuesday Australian bourse filing.
Pinnacle Investment now holds 38.5 million shares of the firm.
Australian shares were again flat, with a negative bias, on Tuesday amid investor anxiety over the course of ceasefire negotiations between the US and Iran.The S&P/ASX 200 Index was little changed to close at 8,724.40.Media reports said that Iran had halted indirect negotiations with the US. US President Donald Trump said talks were moving forward at a rapid pace.Brent crude oil futures were trading above $94 per barrel.On the domestic front, Australia's Fair Work Commission approved a 4.75% wage increase.The country's seasonally adjusted company gross operating profits decreased 1.3% in the March quarter compared with the December 2025 quarter and rose 3.2% compared with the prior corresponding period, according to a report by the Australian Bureau of Statistics (ABS).Seasonally adjusted data revealed that the total number of dwellings approved in Australia fell 3.4% to 16,710 in April from 17,307 in the previous month, figures from the ABS showed.Australian consumer confidence rose 2.7 points in the week of May 25 to 31 to 68.8 points, its highest level since early March, according to ANZ Research. Despite the rise, confidence remains 17.5 points below the 2025 average.In company news, SRG Global (ASX:SRG) upgraded its fiscal 2026 guidance after securing AU$1.85 billion of contracts with blue-chip clients in a range of sectors. The company raised its fiscal 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) forecast to the top end of its previously issued AU$164 million to AU$168 million range, while initiating fiscal 2027 EBITDA guidance of between AU$190 million and AU$200 million.Tasmea (ASX:TEA) struck a deal to acquire specialist electrical contractor Maxim Group Australia for up to AU$254 million. The company said Maxim has an identified pipeline in excess of AU$1.3 billion, which provides full revenue visibility for fiscal 2027 and about 85% revenue visibility for fiscal 2028.Nine Entertainment Co. Holdings (ASX:NEC) completed the sale of its regional television assets, NBN and Nine Darwin, for a total cash consideration of AU$20.5 million, converting them from wholly-owned businesses to affiliates to be owned and operated by WIN Network.
Joincare Pharmaceutical (SHA:600380) said China's drug regulator accepted the market authorization application for laichangqita monoclonal antibody injection, according to a Tuesday filing with the Shanghai bourse.The drug, jointly developed by subsidiary Livzon Monoclonal and Beijing Xinkanghe, is used for treating ankylosing spondylitis.This marked the drug's second accepted indication after psoriasis.Shares of the pharmaceutical company were down 1% in recent trade.
South Korea's alcohol expenditures fell at its sharpest pace in seven years during the first quarter of the year, according to data reported by Statistics Korea, as cited by the Yonhap News Agency on Tuesday.The decline in consumption was attributed to a change in drinking habits, the report added.Households' alcohol consumption came in at 13,000 won per month on average, representing a 9% year over year decline, the report said.Meanwhile, shipments of alcoholic beverages in the country dropped by over 17% from a decade earlier to 3.15 million kiloliters in 2024, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)