Financial News · Live Terminal

ASX Preview: Australian Shares Set to Rise as Iran-US Ceasefire Holds; DPM Metals Posts Higher Q1 Adjusted Earnings, Revenue

Australian shares are poised to rise on Wednesday as easing fears over Middle East supply disruptions and signs of a still-contained Iran-US ceasefire helped steady global risk sentiment, even as tensions around the Strait of Hormuz and intermittent strikes continued to keep energy markets on edge.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.8%, 1%, and 0.7%, respectively.In the macroeconomy, Australia's industry activity remained in contraction in April despite a 9.8 point rebound, as persistent weakness in manufacturing and construction and rising fuel-driven cost pressures outweighed early signs of stabilization in orders and employment, Australian Industry Group said on Wednesday.In corporate news, DPM Metals (ASX:DPM) reported Wednesday first quarter adjusted earnings of $0.76 per basic share on revenue of $310.4 million, compared with adjusted earnings of $0.32 on revenue of $144.1 million a year earlier.Atlas Arteria's (ASX:ALX) independent directors have unanimously urged shareholders to reject IFM's takeover offer, calling it opportunistic, highly conditional, and a material undervaluation of the company's assets and long-term value.Australia's benchmark index fell 0.2% or 16.6 points to close at 8,680.50 on Tuesday.

ASX 200ASX:ALXASX:DPM

St George Mining Appoints Worley For Brazil Niobium-Rare Earths Project Technical Advisory Services

St George Mining (ASX:SGQ) appointed Worley (ASX:WOR) subsidiary Worley Engenharia to provide technical advisory services for the potential development of a niobium and rare earths mine at its Araxá project in Brazil, according to a Wednesday Australian bourse filing.St George Mining Brasil, a wholly-owned unit of St George, entered into a technical services agreement with Worley Engenharia, under which Worley will provide engineering and project management advice to support development studies.St George also engaged metallurgical experts in Australia to provide advice on metallurgical matters and serve as the competent persons for metallurgy disclosures.

ASX:SGQASX:WOR

South Korea's Inflation Accelerates to 2.6% in April

South Korea's inflation climbed 2.6% year on year in April, accelerating from a 2.2% rise in March amid the ongoing conflict in the Middle East, data from the country's Ministry of Data and Statistics showed on Wednesday.The headline print was in accordance with the median estimate of 2.6% in a Bloomberg survey.The increase was driven by higher costs across all categories, with transport gaining the highest at 9.7%, according to the data.Meanwhile, core inflation, which measures prices of goods excluding food and energy, remained steady at 2.2% in April.On a monthly basis, core inflation rose to 0.3% from 0.1% in the preceding month, while headline inflation rose to 0.5% from 0.3%.

^KOSDAQKOSPI

Amcor Sells Two US-Based Beverage Closure Compression Molding Facilities to Closure Systems

Amcor (ASX:AMC) divested two beverage closure compression molding facilities from its Rigid Packaging Solutions North America business to Closure Systems, according to a Wednesday statement from Closure Systems.One of the facilities is an around 183,000-square-foot site in Erie, Pennsylvania, while the other is an around 119,000-square-foot site Hattiesburg, Mississippi.Financial terms were not disclosed.

ASX:AMC

Equities55d ago

California Fuel Watchdog Issues Subpoenas To Gas Stations Over High Prices

California's fuel watchdog has issued subpoenas to gas stations charging unusually high prices and failing to cooperate with inquiries, Bloomberg reported on Tuesday.The Division of Petroleum Market Oversight said it was targeting retailers whose "high prices may not be justified by increases in their input costs.""We were concerned that some retailers might use the conflict as a pretext to inflate their retail prices," DPMO Director Tai Milder said, adding, "we saw something similar happen after the Ukraine invasion," the report said.Milder said stations contacted by the agency cut prices by "50 cents-a-gallon or more," according to Bloomberg.

Emerald Resources Secures Final Works Approval for Western Australia Gold Project

Emerald Resources (ASX:EMR) received approval from Western Australia's Department of Water and Environmental Regulation for its wholly owned Dingo Range Gold Project, effectively enabling the project to proceed to development, according to a Wednesday filing with the Australian bourse.The regulatory approval covers key infrastructure including the processing plant, power station, tailings storage facility, and associated works required for future gold production, per the filing.The company has completed and commissioned on-site accommodation for construction and operational staff and continues drilling through 2026 to support resource updates, including open-pit extensions and potential underground development, while advancing a maiden ore reserve, the filing said.The company also has committed around AU$30 million to acquire two 8,000 kilowatts Metso SAG mills for its operations, along with a crushing circuit for Dingo Range, the filing added.

ASX:EMR

Equities55d ago

Russian Fuel Tanker Carrying Diesel to Cuba Stalls Amid US Blockade

A sanctioned Russian tanker carrying fuel to Cuba has stalled about 1,000 miles off the coast, adding pressure to the island's worsening fuel crisis, Bloomberg reported on Tuesday citing vessel movement data.The vessel, Universal, has been drifting since mid-April after halting a voyage from Russia, carrying nearly 270,000 barrels of diesel, according to Bloomberg citing Vortexa data.Its arrival remains uncertain as ships have diverted away from Cuba "for fear of seizure by US naval forces" amid a near-total energy blockade, Bloomberg said.Only one vessel this year, the Anatoly Kolodkin, delivered oil after receiving a temporary reprieve from the Trump administration, according to the report.

Research Alert: Expd: Q1 Results Top Expectations

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:EXPD delivered strong Q1 results, with EPS of $1.71 versus $1.47 prior year, significantly beating our $1.37 estimate and $1.33 consensus forecast. Revenue rose 4% to $2.7B from $2.67B, exceeding our $2.59B forecast as Airfreight and Customs strength offset Ocean weakness. Mixed segment performance reflected market bifurcation, with Airfreight revenue surging 14% to $1.03B on favorable pricing while Ocean revenue plummeted 23% to $599M due to capacity oversupply pressuring both pricing and volumes. Management expects global capacity oversupply to persist near-term despite maintaining Ocean profitability. Customs/Other revenue jumped 17% to $1.15B, with double-digit growth across all products, due to hyperscaler and high-value technology customer demand plus tariff complexity. Operating margins reached the company's 30% target despite Middle East disruptions, with productivity gains from 2025 AI and technology investments beginning to materialize.

$EXPD

New Zealand's Jobless Rate Falls in March Quarter

New Zealand's seasonally-adjusted unemployment rate fell to 5.3% in the March quarter from 5.4% in the December 2025 quarter, data from Stats NZ showed on Wednesday.The seasonally-adjusted number of unemployed people for the quarter was 163,000, down from 165,000 for the December 2025 quarter.The underutilization rate was unchanged at nearly 13% in the quarter, while the participation rate slid 70.4% from 70.5% in the December 2025 quarter.The seasonally-adjusted employment rate was flat at about 67%.The seasonally adjusted youth not in employment, education, or training (NEET) rate rose to over 14% in the March quarter, up from over 13% in the December 2025 quarter."Women aged 20 to 24 continue to have the highest NEET rate, rising 1.9 percentage points to 20.3% in the March quarter," labor market spokesperson Abby Johnston said.

^NZ50

Research Alert: Emerson Electric: Fq2 Eps Beats Despite Sales Growth Slowdown

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:EMR delivered operating EPS growth of 4% Y/Y to $1.54, though underlying sales growth moderated to 0.5%, impacted by the U.S.-Iran conflict according to management. The beat was supported by share buyback activity. We see 5% underlying orders growth signaling a future recovery, with bookings centered in the high-margin Software & Systems business. Management expects Software segment profitability to enter modest recovery in 2H FY 26. The Software & Systems platform delivered 4% reported growth, with Test & Measurement achieving 16% reported growth, reflecting sustained demand in EMR's growth verticals including semiconductor and aerospace markets. Geographic performance revealed mixed fortunes, with Americas leading growth at 5% Y/Y, while Europe declined 4% and Asia/MEA fell 5%, reflecting broader geopolitical tensions. Adjusted segment EBITA margin compressed 40 bps Y/Y to 27.6% despite favorable mix shift toward higher-margin Software & Systems, with Software margins declining 250 bps to 29.2%.

$EMR

South Korea's Inflation Rises to 2.6% in April; Core Inflation Steady at 2.2%

^KOSDAQKOSPI

Regis Resources, Vault Minerals Merger of Equals Creates Meaningful Scale, Says Euroz Hartleys

Regis Resources (ASX:RRL) and Vault Minerals (ASX:VAU) proposed a merger of equals that would create a mid-tier gold producer of meaningful scale and a combined market capitalization of roughly AU$10.7 billion, Euroz Hartleys said in a note on Tuesday.Under the proposed deal, Vault shareholders will receive 0.6947 shares in Regis for each Vault share owned. Regis shareholders will own about 51% of the merged company and Vault shareholders the remaining 49%, as per a Tuesday joint filing with the Australian bourse.The merger, which will translate to over 700,000 ounces of gold production per year through five operating assets across Western Australia, benefits from a debt-free balance sheet, a robust and growing reserve and resource base, and potential operational synergies that could cut costs.The increased capitalization will also bolster liquidity, lower the cost of capital and support future growth and shareholder returns, it added.Euroz Hartleys maintained a buy rating for Vault and is reviewing a price target for the company.

ASX:RRLASX:VAU

Westpac Banking Expands Growth and Risk Appetite, Says Jarden

Westpac Banking (ASX:WBC) has "meaningfully" boosted its growth and risk appetite to achieve a larger balance sheet and higher revenue base to increase earnings, Jarden said in a note on Tuesday.The bank's total capital in the three months to March came in at AU$98.54 billion, up from the AU$97.14 billion it reported in the year-ago period. Its CET1 capital for the period clocked in at AU$56.94 billion, rising from the AU$55.01 billion it reported for the March 2025 quarter, according to a Tuesday Australian bourse filing.The investment firm said Westpac's UNITE program, aimed at optimizing its internal technology systems, is the right move but may not be easy. It is expected to cost more, take longer and could lead to write offs.Analysts at the brokerage also cautioned that accelerating growth and the company's increased risk appetite could prove ill-timed if the current Middle East conflict sets off a credit cycle.Jarden provided an underweight rating and price target of AU$32.

ASX:WBC

Research Alert: Iag Q1: Aum & Wealth Management Drive 9% Core Earnings Growth

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:IAG reported quarterly core diluted EPS of CAD3.25 (+12% Y/Y), with core earnings of CAD298M up 9% Y/Y. Wealth Management drove strong performance, with core earnings of CAD131M up 24%, while Insurance - Canada declined to CAD96M from CAD100M due to CAD3M in morbidity experience losses. The company achieved its 2026 ROE target early, reaching 17.5%, and enhanced shareholder returns by increasing NCIB capacity to 8% of public float and raising the quarterly dividend 11% to CAD1.10. Assets under management and administration reached CAD346.1B (+31%), supported by robust segregated fund sales of CAD2.4B. The solvency ratio of 134% reflects solid organic capital generation of CAD155M, beating prior year by CAD30M. We believe IAG's significant exposure to equity markets and robust distribution networks position it well for continued growth, with segregated and mutual fund sales growth of 23% and 30%, respectively, demonstrating the underlying strength of its product offerings and extensive market reach.

$IAG

Duratec Secures AU$68 Million Northern Australia Contract

Duratec (ASX:DUR) received a contract worth around AU$68 million from Clough BMD joint venture to deliver construction and commissioning works for the Darwin Ship Lift Facility in northern Australia, according to a Wednesday filing with the Australian bourse.The project, led by the Northern Territory Government, is a major infrastructure initiative to position Darwin as a maritime services hub for defense, border protection, energy, tourism, and aquaculture vessels, per the filing.The company's scope of work includes the construction of a blast and paint facility and washdown bay slab, as well as the installation and commissioning of systems such as dust collectors, tanks, water treatment, heating, ventilation, and air conditioning, communications, electrical, and hydraulic systems, the filing said.Construction is scheduled to start in June and is expected to be completed between mid and late 2027, the filing added.

ASX:DUR

Research Alert: CFRA Lowers Opinion On Shares Of Corteva, Inc. To Hold From Buy

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our target at $84, 20.1x our 2027 EPS estimate, in line with CVTA's five-year average. After Q1 earnings release, we raise our 2026 EPS view to $4.01 from $3.72 to reflect the Q1 beat. We maintain our 2027 EPS estimate at $4.17. CTVA delivered strong Q1 2026 results today after market close, demonstrating robust operational execution across both business segments, while maintaining momentum toward the planned 2H 2026 separation of the Seed and Crop Protection business. Net sales increased to $4.9B (+11% Y/Y) with organic growth of 7% Y/Y, reflecting broad-based demand for the company's differentiated technology offerings across all geographic regions. Management confirmed the separation remains on track for 2H 2026, with key milestones including Luke Kissam's appointment as New Corteva CEO and the announcement of "Vylor" as the future seed and genetics company name. Yet, with shares up nearly 32% in the last six months, we see limited upside potential at this point and lower our rating to Hold from Buy.

$CTVA

New Zealand's Jobless Rate at 5.3% in March Quarter Versus 5.4% in December 2025 Quarter, Employment Rate at About 67%

^NZ50

Research Alert: CFRA Maintains Buy Rating On Shares Of Iqvia

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We keep our 12-month price target at $210, based on 16.4x our 2026 EPS estimate, above IQV's one-year historical forward average of 15.6x but a discount to its five-year historical forward average of 20.6x. This is justified by recent headwinds for key life sciences end markets due to macroeconomic pressures, uncertain tariff and research funding policy, and weaker biotech spending and clinical trial activity, in our view. We raise our 2026 EPS estimate to $12.80 from $12.70 and lower our 2027 estimate by $0.07 to $14.12. Adjusted for IQV's new segment reporting, R&DS saw net new bookings of $2.5B in Q1 2026 (up 3.6% Y/Y), generating a book-to-bill ratio of 1.04x, somewhat weaker than recent trends. Management attributed this to an unfavorable clinical trial mix rather than an indicator of weakening demand. Per Q1 earnings commentary, the company has deployed 192 AI agents across 64 use cases, with 19 of the top-20 pharmaceutical companies having adopted some of these offerings.

$IQV