Gold miners and banks retreat while retailers outperform after fresh US strikes on Iranian targets lift inflation concerns
Australian shares moved lower at midday, with the S&P/ASX 200 down 0.82% to 8646.1 at 12:29pm AEST as renewed uncertainty around prospects for a US-Iran peace deal pushed oil prices higher and weighed on investor sentiment. Brent crude rebounded 1.7% to around US$95.93 a barrel after US airstrikes on an Iranian military site offset earlier optimism that negotiations to reopen the Strait of Hormuz were progressing. The Australian dollar slipped to US71.23 cents, while gold fell 1.1% to around US$4400 an ounce amid concerns escalating tensions could add to global inflation pressures.
Nine of the 11 sectors traded lower, with gold miners among the weakest performers as bullion prices hit a two-month low. Newmont, Resolute Mining and Northern Star all declined sharply, while the major banks also retreated, including ANZ, Commonwealth Bank, Westpac and National Australia Bank. ASX Ltd extended its recent sell-off to trade at its lowest level since 2016. Energy stocks were weaker despite higher oil prices, with Woodside and Santos both lower. Retailers outperformed the broader market, supported by gains in Wesfarmers and JB Hi-Fi, while Eagers Automotive fell after Macquarie cut its target price on the stock.
Immutep links immune response to improved survival outcomes
Immutep (ASX: IMM) reported new clinical data showing eftilagimod alfa, used alongside standard therapies, was associated with improved overall survival outcomes in late-stage cancer patients. The analysis reviewed five clinical trials involving 592 patients across multiple cancer types, including lung cancer, breast cancer and melanoma.
The company said patients showing increased immune activation recorded a median overall survival improvement of 7.7 months compared with non-responders. Immutep said the findings support the therapy’s immune activation mechanism and clinical efficacy, with the data set to be presented at the 2026 ASCO Annual Meeting in Chicago.
Clever Culture expands pharmaceutical customer base
Clever Culture Systems (ASX: CC5) secured two new pharmaceutical customers for its APAS Independence microbiology automation platform, including a top-20 global pharmaceutical company. The agreement includes a paid evaluation at a US facility, with installation expected in June 2026.
The company also received an order from a US-based single-site customer as adoption of APAS Independence continues to expand. Clever Culture said it achieved 11 APAS instrument placements during FY26 and identified a potential expansion opportunity of up to 100 instruments with an existing customer.
Forrestania reports strong gold results at Lady Lila
Forrestania Resources (ASX: FRS) reported further high-grade gold drill results from its Lady Lila Gold Project in Western Australia following a 43-hole drilling program covering 5,142 metres. Key results included 21 metres at 2.50 grams per tonne gold from 21 metres, including 1 metre at 15.85g/t gold.
The company said the drilling program improved understanding of the project’s geology and mineralisation, while exploration work continues across the broader Forrestania North Project. Lady Lila currently hosts a Mineral Resource Estimate of 40,513 ounces of gold.
Thrive Tribe relaunches WooBoard workforce platform
Thrive Tribe Technologies (ASX: 1TT) said it will relaunch and modernise its legacy WooBoard and REFFIND workforce software platforms following its recent capital raise. The company is targeting enterprise, government and defence-related organisations managing large and dispersed workforces.
The proposed AI-enabled platform will focus on employee engagement, communications, wellbeing and workforce analytics. Thrive Tribe said demand had re-emerged for remote and hybrid workforce management tools across sectors including government, healthcare, emergency services and defence-related industries.
