Afternoon Report | ASX climbs on Hormuz hopes
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Welcome to the Fear and Greed Business News Afternoon Report for Monday the 25th of May 2026. I'm Michael Thompson and every afternoon we've got the five stories that happened today that you need to know about. Let's get going. Story number one, the S&P ASX 200 closed 0.4% higher today to 8,692 points as oil prices dropped sharply on hopes that the US and Iran
are getting close to a deal that could reopen the Strait of Hormuz and ease pressure on global energy markets. Brent crude fell below US$100 a barrel after US officials suggested that an agreement with Tehran may well be imminent. The Aussie dollar strengthened on the improving outlook as well. Gold miners were among the biggest winners though today. Resolute mining surged more than 10%, the best on the bourse today, while Newmont and Northern Star Resources also rallied strongly. Coal miner Whitehaven was also up sharply, closing 9% higher after Chinese coal prices jumped following a deadly explosion at a mine there. The major banks were mixed after Citigroup warned the impact of the federal budget hadn't yet been fully reflected
In bank share prices, NAB gained almost 1% after an upgrade, while Commonwealth Bank edged lower. Qantas jumped more than 5.5% today as falling oil prices improved the outlook for fuel costs, despite the airline announcing further delays to its ultra-long-haul Airbus fleet, which are needed for the Project Sunrise flights directly from the East Coast right around to the other side of the world, to London. Story number two, ASIO boss Mike Burgess
Why did the ASX climb today?
says that Australia's domestic spy agency has infiltrated extremist groups online as it tries to determine whether violent rhetoric is turning into real attack planning. Burgess appeared before the Royal Commission into anti-Semitism and extremism today, and he said that the agency had shifted resources towards countering espionage and foreign interference in recent years, but remained deeply concerned about lone actors and small extremist groups flying under the radar. Burgess also revealed that ASIO believes Iran's Revolutionary Guard Corps was behind at least some of the anti-Semitic arson attacks that targeted Jewish-linked sites in Australia in 2024 and 2025. He warned that anti-Semitism has become increasingly normalized following the October 7 Hamas attacks on Israel and said that ASIO feared escalating violence from extremist groups.
Story number three, bit of corporate news around today. Property and funds management group Charter Hall today upgraded its earnings guidance for the current financial year for the third time. Its funds under management has increased driven by new mandates, office and industrial acquisitions and stronger leasing activity across its portfolio. Its share price climbed to more than 6% today. Meanwhile, Atlas Arteria said the first or the right of first offer period granted to Ontario teachers pension plan over Atlas' stake in the Chicago Skyway toll road. Well, that offer period has expired without a deal being reached. The company is now looking at other opportunities. This is all happening while IFM Investors is bidding $6.9 billion to acquire the toll road operator.
Story number four, Adore Beauty says that the rising cost of living has dented trade at the beauty and skincare retailer in the final quarter of the financial year. Increased promotional activity in April and May was necessary to entice shoppers. However, Adore still expects flat gross margins in the second half due to selling more of its own brands and having a larger store network. its share price climbed more than five percent today though it is still trading around one-third the level it was at the beginning of the year it fell sharply in february after announcing a 70 drop in profit and finally story number five australian swimmer james magnuson has finished last in both sprint freestyle events at the controversial enhanced games in the united states despite competing with performance enhancing drugs under medical supervision and wearing a so-called super suit
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