Australian shares were lower at midday, with the S&P/ASX 200 falling to 8,618.7 at 12:15pm AEST, after recovering from a sharper early decline. Investor sentiment remained under pressure after fresh US strikes on Iran reignited concerns about the Middle East conflict, pushing Brent crude up 1.4% to almost US$94.50 a barrel. The Australian dollar fell to a two-month low near US70 cents, while Wall Street’s technology-led sell-off also weighed on local markets.
Technology and financial stocks led losses, with NextDC and Xero retreating alongside weakness in the major banks. Materials recovered from earlier declines as BHP edged into positive territory, although Newmont and Fortescue remained lower. Alcoa was among the worst performers after warning of disruptions to its alumina business linked to energy market volatility and shipping risks near the Strait of Hormuz. Energy stocks outperformed on stronger oil prices, with Woodside, Santos and Karoon Energy posting solid gains.
In company news, technology and industrial companies highlighted new commercial opportunities spanning AI infrastructure, workplace safety and digital connectivity.
Megaport opens retail entitlement offer to fund AI expansion
Megaport (ASX: MP1) has opened the retail component of its fully underwritten entitlement offer, seeking to raise approximately $309 million as part of a broader $827 million capital raising. Eligible retail shareholders can subscribe for one new share for every 3.08 shares held at an offer price of $14.30 per share, with the offer closing on 29 June. The capital raising follows Megaport’s recent announcement that subsidiary Latitude.sh secured four major GPU contracts worth a combined $458.9 million. The company said the funds will support expansion of its AI infrastructure strategy, including growth of its on-demand GPU platform and development of a globally distributed AI inference cloud.
CleanSpace launches AGILE respirator following European certification
CleanSpace Holdings (ASX: CSX) has launched its new AGILE powered air-purifying respirator after securing European EN12941 certification. The company said the device is the world’s first loose-fitting PAPR incorporating its patented AirSensit® technology, designed for workers in high-dust industrial environments while accommodating users with facial hair. The certification enables immediate entry into the European market, CleanSpace’s largest revenue-generating region. The company said Australian and New Zealand approval is expected in coming months, with the product targeting opportunities across construction, mining, manufacturing and quarrying industries as workplace safety regulations continue to tighten.
X2M targets regional data centre growth through Resi Ventures partnership
X2M Connect (ASX: X2M) has signed a five-year partnership agreement with property developer Resi Ventures to develop integrated regional data centre and energy infrastructure precincts across Australia. The first project is expected to be the Miners Rest Renewable Energy Integration Precinct near Ballarat, combining data centre capacity, battery storage, EV charging infrastructure and renewable energy connections. Under the agreement, X2M’s AI-enabled platform will manage energy generation, storage, distribution and environmental systems across the precinct through a single interface. The company said the partnership provides entry into Australia’s rapidly growing regional data centre market, which is benefiting from increasing demand for artificial intelligence, cloud computing and edge infrastructure.
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