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Asia

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.

ASX 200ASX:CNBASX:EVNASX:MYRASX:STO
Asia

Santos, PRISM Energy Export First Barossa Condensate Cargo to South Korea

Santos (ASX:STO) and PRISM Energy International Australia have jointly marketed and loaded the first condensate cargo from the Barossa gas project, located 285 kilometers north of Darwin, according to a Monday filing with the Australian bourse.The shipment of around 300,000 barrels of condensate was loaded from the BW Opal floating production, storage and offloading vessel on July 24 for delivery to SK Incheon Petrochem's refinery in South Korea for naphtha and jet fuel production, per the filing.The company operates the Barossa project with a 50% interest, in partnership with PRISM Energy International Australia, which holds a 37.5% stake, and JERA Australia, which holds the remaining 12.5%, the filing added.

ASX:STO
Asia

Jarden Adjusts Santos' Price Target to AU$7.90 from AU$7.65, Keeps at Overweight

Santos (ASX:STO) has an average rating of overweight and mean price target of AU$8.49, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

ASX:STO
Asia

Santos Exits Q2 With More Positive Near-Term Outlook After Addressing Key Challenges, Jarden Says

Santos (ASX:STO) ended the June quarter with a more positive near-term outlook after resolving several challenges that impacted production and free cash flow, Jarden said in a late Thursday note.Commissioning issues at the company's Barossa operations in the Timor Sea, which dragged production and sales revenue, appear to be mostly addressed, while the Pikka project in Alaska is on track to hit plateau rates by the end of the current quarter, the equity research firm said.The company's June quarter production of 23.1 million barrels of oil equivalent came in 1% ahead of Jarden's forecast, but its sales revenue of about $1.35 billion was 5% below Jarden's estimate due to underlifted volumes in Papua New Guinea and a miss in realized liquefied natural gas price.Santos also downgraded its full-year production outlook by 3.8% at the midpoint to a range of 99 to 105 million barrels of oil equivalent. Jarden said that while it expected the cut, Barossa is now producing at 97% of "planned rates," suggesting a resolution of its performance issues.The investment firm expects Santos to benefit from its exposure to oil and LNG prices as the Middle East conflict continues to flow into higher commodity prices, although the lag effect means the true benefits won't be seen until the second half of the year.Jarden maintained an overweight rating on Santos while raising the target price to AU$7.90 from AU$7.65.The company's shares gained 2% in recent Friday trade.

ASX:STO
Asia

Australian Shares Flat; Santos Posts Higher Q2 Total Production

Australian shares were flat with a positive bias on Thursday despite oil prices reaching their highest point in over a month.The S&P/ASX 200 Index was little changed to close at 8,839.Overnight, the S&P 500 and the Nasdaq Composite fell 0.1% and 0.6%, respectively, on Wall Street.Brent crude oil futures rose around 2% to trade around $96 per barrel as the conflict in the Middle East continued and concerns grew over potential supply disruptions linked to threats against shipping routes.Gold prices climbed to trade around $4,116 per ounce amid renewed safe-haven demand, while iron ore futures rose over 1% to around $98 in Singapore.On the domestic front, Australia's seasonally adjusted unemployment rate remained flat at 4.4% in June compared with the previous month, data from the Australian Bureau of Statistics showed. The total number of employed people increased by 76,300, bringing the total to 14.8 million.The improvement in aggregate business conditions in Australia during the June quarter continues to be driven by larger businesses, Westpac said. The Westpac Business Performance Gauge, which represents the ratio of operating revenues to operating expenses, rose 0.2% quarter-over-quarter in the June quarter, a softer pace than in recent quarters, while the Westpac Cashflow Gauge, which represents the ratio of operating revenues to operating expenses plus liabilities, rose 0.3%.In company news, Santos (ASX:STO) reported total production of 23.1 million barrels of oil equivalent (MMboe) in the second quarter ended June 30, up on last year's 22.2 MMboe.James Hardie Industries (ASX:JHX) expects to report first-quarter fiscal 2027 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of between $399 million and $407 million and net sales of between $1.45 billion and $1.48 billion.Lastly, Karoon Energy (ASX:KAR) reported total production of 1.1 million barrels of oil equivalent (MMboe) in the second quarter ended June 30, down from last year's 2.9 MMboe.

ASX 200ASX:JHXASX:KARASX:STO
Asia

Australian Shares Open Higher as Oil, Gold Rally on Middle East Tensions; Santos Posts Higher Q2 Total Production

Australian shares opened higher on Thursday as oil prices surged to their highest level in more than a month amid escalating US-Iran tensions and growing concerns over potential supply disruptions linked to threats against shipping routes.Gold prices also climbed to a two-week high on a softer US dollar and renewed safe-haven demand, while investors awaited fresh signals on the Federal Reserve's interest rate path.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.1%, 0.6%, and 0.01%, respectively.In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.In corporate news, Santos (ASX:STO) reported total production of 23.1 million barrels of oil equivalent (MMboe) in the second quarter ended June 30, up on last year's 22.2 MMboe.Clinuvel Pharmaceuticals (ASX:CUV) said it will move its headquarters to the US from Jan. 1, 2027, as part of a restructuring that includes a 10% to 20% global workforce reduction and a shift toward US-focused operations, funding access and commercialization of its late-stage pipeline.Australia's benchmark index rose 0.3% or 29.7 points to close at 8,823 on Wednesday.

ASX 200ASX:CUVASX:STO
Asia

Santos Posts Higher Q2 Total Production; Narrows 2026 Output Target

Santos (ASX:STO) reported total production of 23.1 million barrels of oil equivalent (MMboe) in the second quarter ended June 30, up on last year's 22.2 MMboe, according to a Thursday filing with the Australian bourse.Total production in the previous quarter was 22.5 MMboe, the filing said.Additionally, the company updated its 2026 production guidance to 99 MMboe to 105 MMboe from 101 MMboe to 111 MMboe.The company reaffirmed its capital expenditure guidance in the range of $1.95 billion to $2.15 billion, per the filing.

ASX:STO
Asia

Synertec Executes Contracts With Santos for Two Additional Powerhouse Systems; Shares Hit 52-Week High

Synertec (ASX:SOP) executed contracts with Santos (ASX:STO) for the delivery of two more Powerhouse systems for the latter's Gladstone liquefied natural gas joint venture operations, taking the total number of contracted units with Santos to six, according to a Tuesday Australian bourse filing.Gladstone is a joint venture among Santos, TotalEnergies, Petronas, and Kogas.One of the new units will deploy 250 kilowatts of solar energy and 1 megawatt-hour of storage to power three coal seam gas wells, per the filing. The second new unit will provide 300 kilowatts of solar energy and 1.5 megawatt-hours of storage, and is expected to power five coal seam gas wells.Both units are scheduled for installation in the first half of fiscal 2027, the company said. The second unit also remains subject to Santos' final investment sanction, which is currently expected around the end of the first quarter of fiscal 2027.All six units are contracted under a build, own, operate, and maintain commercial arrangement, which provides Synertec a flat monthly rental fee.Synertec's shares surged past 19% in recent Tuesday trade and earlier hit a 52-week high. Santos' shares gained 2%.

ASX:SOPASX:STO
Equities

Santos to Strengthen Indigenous Training, Employment Opportunities in Northern Territory, Shares Up 5%

Santos (ASX:STO) said it would increase indigenous participation by strengthening training and employment initiatives in the Northern Territory, according to a Wednesday statement.It also launched its updated 2030 Indigenous Participation Plan to create sustainable employment, training, and business opportunities for Aboriginal and Torres Strait Islander peoples across Australia.The Barossa Aboriginal Future Fund launched the Saltwater Pathways Program, a pilot training and employment initiative, supported by the Barossa joint venture partners Santos, PRISM Energy Australia, and JERA Australia.The fund will invest nearly AU$3.1 million over three years to deliver the program.Santos' shares climbed 5% in recent trading on Wednesday.

ASX:STO
Japan

ASX Midday Sector Update: Energy Stocks Gain, Materials Struggle

Energy stocks led gainers with a rise of 2.6% in midday trading Wednesday as oil prices advanced more than 2%.Woodside Energy (ASX:WDS) gained nearly 3%, and Santos (ASX:STO) jumped almost 5%.Most other sectors were lower, however, with materials shedding 2.4% to lead decliners.BHP Group (ASX:BHP) fell about 3%, and Rio Tinto Group (ASX:RIO) retreated past 2%.

ASX 200ASX:BHPASX:RIOASX:STOASX:WDS
Asia

Monadelphous Group Secures Over AU$200 Million of Construction, Maintenance Contracts

Monadelphous Group (ASX:MND) secured more than AU$200 million of new construction and maintenance contracts, according to a Wednesday filing with the Australian bourse.The company won two awards from Fortescue (ASX:FMG), including one for the installation of wind turbine generators for a project in Western Australia, and another three-year contract for continued maintenance services across Pilbara operations in Western Australia, per the filing.Monadelphous also received two awards from Santos (ASX:STO), including an extendable three-year contract for multidisciplinary services for upstream field development and production operations, and another for the construction of temporary camp facilities at a project in Papua New Guinea where work is expected to complete by the end of this year.Lastly, Monadelphous obtained a three-year contract for continued operation and maintenance services at Synergy's Muja Power Station in Western Australia.

ASX:FMGASX:MNDASX:STO
Asia

Santos Signs 10-Year Gas Supply Deal With South Australia Government

Santos (ASX:STO) entered into a 10-year gas sale agreement with the South Australian Government to supply 200 petajoules of gas to the South Australian strategic gas reserve from 2030 to 2040, according to an Australian bourse filing on Monday after market hours.Under the agreement, the company will deliver 20 petajoules of gas annually, delivered ex-Moomba, with indexed pricing and a prepayment structure that will help fund its Moomba Central Optimization project, per the filing.First gas is planned for March 1, 2030, aligning with the expiration of the company's Horizon contract with the GLNG joint venture, the filing said.

ASX:STO
Asia

ASX Preview: Australian Shares Set to Rise on US-Iran Peace Hopes; WiseTech Global Denies Awareness of Any Investigation Into Chair Richard White

Australian shares are poised to rise on Tuesday, tracking firmer gold prices and a sharp drop in crude oil after progress in US-Iran peace talks eased inflation concerns and shifted interest rate expectations higher.Overnight, the S&P 500 and the Nasdaq Composite fell 0.4% and 1.3%, respectively, while the Dow Jones Industrial Average rose 0.3%.In the macroeconomy, Australia's private sector activity edged closer to stabilization in June, but persistent declines in new orders and the weakest business confidence since the pandemic reflected lingering demand-side weakness despite easing inflationary pressures, according to a survey by S&P Global released Tuesday.The ANZ-Roy Morgan Australian consumer confidence rose 2.1 points to 72.8 in the week of June 15 to June 21, ANZ reported Tuesday.In corporate news, WiseTech Global (ASX:WTC) denied awareness of any investigation linked to Executive Chair Richard White following media reports concerning a visa application, saying the matter relates to him personally and not the company.Santos (ASX:STO) started continuous production at its Pikka phase one oil development on Alaska's North Slope, with initial flow from the first wells averaging around 20,000 barrels per day.Australia's benchmark index fell 0.1% or 12.6 points to close at 8,816.10 on Monday.

ASX 200ASX:STOASX:WTC
Asia

Santos Starts Continuous Production at Alaska Project

Santos (ASX:STO) started continuous production at its Pikka phase one oil development on Alaska's North Slope, with initial flow from the first wells averaging around 20,000 barrels per day, according to a Tuesday filing with the Australian bourse.The company plans to begin seawater injection in the coming weeks to support reservoir pressure, followed by the commissioning of additional production wells, per the filing.The company said production is expected to ramp up toward a plateau of about 80,000 barrels per day in the third quarter.The project is expected to produce around 400 million barrels of gross 2P reserves, with an additional 600 million barrels of gross 2C resources in the Pikka unit supporting phased development beyond phase one, the filing added.

ASX:STO
Asia

Santos, Karoon Energy Shares Slide as Oil Price Hits Two-Month Low

Santos (ASX:STO) shares fell over 1% in recent Friday trade, while Karoon Energy (ASX:KAR) shed nearly 3%, as the price of oil hit a two-month low after US President Donald Trump canceled plans to strike Iran.Brent crude futures were down 1.3%, and WTI crude declined 1.4%, both sitting below the $90 per barrel mark.In a social media post, Trump ​said he called off strikes on Iran because discussions between the two sides have ​progressed, creating hope for a peace deal to end the conflict.

ASX:KARASX:STO
Asia

Australian Shares Fall; Santos to Target Capital Expenditure Reduction of Around AU$300 Million from 2027 to 2030

Australian shares fell on Tuesday as optimism around a potential deal to end the conflict in the Middle East wavered after fresh US strikes.The S&P/ASX 200 Index declined 0.39%, or 34.20 points, to close at 8,657.80.Brent crude oil futures rose around 2% to trade around $98 per barrel after the US military carried out strikes in Iran against targets including missile launch sites and boats, which the US characterized as defensive in nature.US Secretary of ​State Marco Rubio said negotiating a deal with Iran could "take a few days."On the domestic front, one in six Australian businesses was experiencing supply chain disruptions in May, with about 72% reporting a negative impact from current fuel prices or availability, according to a business conditions and sentiments report by the Australian Bureau of Statistics (ABS).ABS said 60% of businesses made changes to operations due to fuel prices or availability, with 48% absorbing cost increases and 11% increasing prices. Agriculture, forestry, and fishing recorded the highest proportion of businesses experiencing supply chain disruptions at 42%, followed by retail trade at 31%.Australian consumer confidence fell 0.3 points in the week of May 18 to 24 to 66.1 points, as confidence remains around historical lows since the series started in 1973, ANZ said. The four-week moving average eased 0.4 points to 66 points.In company news, Santos (ASX:STO) is set to prioritize upstream investment in the Moomba Central fields area in South Australia and deprioritize the broader Cooper Basin, targeting cumulative capital expenditure reduction of around AU$300 million from 2027 to 2030, and AU$150 million savings annually thereafter.Goodman Group (ASX:GMG) reported a work-in-progress value of AU$14.5 billion as of March 31, saying it expects the figure to reach around AU$18 billion by June. Data centers represent 73% of the March 31 work in progress. The work in progress is 37% pre-committed.Lastly, Infratil (ASX:IFT, NZE:IFT) swung to a profit of NZ$0.558 per share in fiscal 2026 from a loss of NZ$0.315 a year earlier. Revenue for the 12 months ended March 31 was NZ$3.04 billion, compared with NZ$2.86 billion a year earlier.

ASX 200ASX:GMGASX:IFTASX:STO
Asia

Santos to Focus Growth Investment on LNG, Oil to Develop Tier-1 Alaska, Papua New Guinea Basins

Santos (ASX:STO) is set to focus growth investment on liquefied natural gas (LNG) and oil to develop tier-1 basins in Alaska and Papua New Guinea, as well as fully appraise Australia's Beetaloo and Bedout basins, according to a Tuesday Australian bourse filing.Santos' Alaskan crude oil is expected to be sold to Asian refineries. Its Pikka phase one project in Alaska is expected to establish cash flow and deliver 80,000 gross barrels of oil per day on plateau.The Nanushuk Drill Site C is fully appraised and ready for a final investment decision within the year.The firm's shares fell 1% in recent trading on Tuesday.

ASX:STO
Asia

Santos to Target Capital Expenditure Reduction of Around AU$300 Million from 2027 to 2030

Santos (ASX:STO) is set to prioritize upstream investment in the Moomba Central fields area in South Australia and deprioritize the broader Cooper Basin, targeting cumulative capital expenditure reduction of around AU$300 million from 2027 to 2030, and AU$150 million savings annually thereafter, according to a Tuesday Australian bourse filing.This came amidst the firm's strategic review of its Australian domestic oil and gas business.It also said its machine learning bottom-hole pressure model, replacing physical downhole gauges, could lead to around AU$70 million in potential capital expenditure reduction.Its shares rose 1% in recent trading on Tuesday.

ASX:STO
Asia

ASX Most Active Stocks

Here are the five most actively traded big-cap stocks on the Australian Securities Exchange on Friday.Arafura Rare Earths (ASX:ARU): 80.5 million sharesPredictive Discovery (ASX:PDI): 11.8 million sharesTelstra Group (ASX:TLS): 9.2 million sharesSantos (ASX:STO): 8.2 million sharesSigma Healthcare (ASX:SIG): 7.2 million shares

ASX 200ASX:ARUASX:PDIASX:SIGASX:STOASX:TLS
Asia

Energy Producers' Shares Mixed as Oil Rebounds on Iran Tensions

Shares of Woodside Energy Group (ASX:WDS) edged down in recent Friday trade, while Santos (ASX:STO) inched up as oil markets swung higher, with crude prices rebounding on renewed uncertainty over Iran's uranium position and the Strait of Hormuz amid stalled US negotiations.Brent crude futures rose 1.9% to $104.57 a barrel.

ASX:STOASX:WDS

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