Australian Shares Jump; Evolution Mining to Acquire Carnaby Resources in AU$213 Million Deal
Australian shares closed higher on Monday, as a fall in oil prices provided relief over inflation concerns.The S&P/ASX 200 Index gained 1.39%, or 121.70 points, to close at 8,894.Brent crude oil futures were trading over $92 per barrel, falling over 4%. Iran said it would stop its attacks if the US did the same. Gold rose to trade around $4,090 per ounce.Investors are also eyeing the results of the US Federal Reserve's July meeting on Wednesday.On the domestic front, Australia's headline inflation is expected to average 4% in the second quarter, below the Reserve Bank of Australia's 4.8% forecast, which should prompt the central bank to keep interest rates unchanged at its next policy meeting, BofA Securities said.In company news, Evolution Mining (ASX:EVN) agreed to acquire Carnaby Resources (ASX:CNB) via a scheme of arrangement under which Carnaby shareholders will receive 0.0682 new Evolution shares for each Carnaby share held, valuing Carnaby at around AU$213 million.Santos (ASX:STO) and PRISM Energy International Australia jointly marketed and loaded the first condensate cargo from the Barossa gas project. The shipment of around 300,000 barrels of condensate was loaded from the BW Opal floating production, storage and offloading vessel for delivery to SK Incheon Petrochem's refinery in South Korea.Lastly, Myer Holdings (ASX:MYR) reported total sales for fiscal year 2026 of AU$4.1 billion and operating gross profit between AU$1.6 billion and AU$1.61 billion. The company reported total sales of AU$3.67 billion and operating gross profit of AU$1.41 billion for fiscal year 2025.
