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