Australian Shares Fall; Catalyst Metals Enters Gold Forward Contracts for 30,000 Ounces at AU$6,075 Per Ounce
Australian shares declined again on Thursday as investors reacted to another rise in oil prices after the US conducted fresh strikes on Iran.The S&P/ASX 200 Index fell by 0.26%, or 22.60 points, to close at 8,762.50.Brent crude oil futures rose over 1% to trade around $78 per barrel as the US struck Iran in fresh strikes. US President Donald Trump said the ceasefire with Iran was effectively "over."Gold fell for three consecutive sessions to around around $4,080 per ounce.On the domestic front, the International Monetary Fund (IMF) lowered Australia's economic growth estimate for 2026, citing the drag from higher global energy prices and softer global momentum resulting from ongoing geopolitical tensions.In company news, Catalyst Metals (ASX:CYL) entered into gold forward contracts for 30,000 ounces of gold at a fixed price of AU$6,075 per ounce, with deliveries spread evenly over 15 months at 2,000 ounces per month starting in August, representing 2% of reserves or one quarter of production.FDC Consolidated Holdings (ASX:FDC) shares jumped over 13% in Thursday's trade as the construction firm made its debut on the Australian exchange. The company raised AU$400.8 million in its initial public offering through the issue of about 133.6 million shares at a price of AU$3 each.Steadfast Group (ASX:SDF) extended its exclusivity agreement with the Amwins Group and Dragoneer Investment Group consortium after the bidders reaffirmed their commitment to a proposed AU$6-per-share cash acquisition of the company through a scheme of arrangement.
