1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
The Australian sharemarket finished marginally lower on Monday, easing 0.06% as a late-day fade trimmed earlier gains. A surge in oil prices lifted energy stocks and offset weakness across the technology and materials sectors.
Energy names led the gains after Brent crude rallied above US$90 a barrel for the first time in more than a month, as the United States and Iran expanded military strikes in the Middle East. The move supported Ampol, Santos, Woodside Energy and Karoon Energy, with investors rotating into the sector on expectations of stronger earnings.
Wesfarmers shares rose 0.25% on the same day it announced a deepening of its partnership with Google Cloud to accelerate the rollout of artificial intelligence across its retail businesses.
Among the standout performers, EQ Resources rocketed 33% after mining billionaire Andrew Forrest's investment vehicle agreed to acquire a 16.8% stake from Oaktree Capital Management, marking a major vote of confidence in the tungsten producer.
Elsewhere, Deep Yellow rose 6.1% after securing $34 million in contracts for its flagship uranium project in Namibia. Fletcher Building edged higher after securing up to NZ$60 million in government funding to keep a NZ manufacturing plant operating through at least 2040. And Coast Entertainment soared nearly 15% after the Dreamworld owner received approval for a theme park overhaul.
