Company Interview / Market Update | Israel strikes Iran, oil, gold, defence, tech, travel, Accent Group, China data

Amid reports of Israel striking Iran, energy and defence stocks experience significant shifts. Brent crude prices surge, with energy giants like Woodside (ASX: WDS) and Santos (ASX: STO) rallying. Gold stocks follow suit, with Newmont (ASX: NEM) up 5.6% and Evolution Mining (ASX: EVN) nearly 5% higher.

Defence companies also feel the impact, as Electro Optic Systems climbs 5% to $2.51, and Austal rises 2.3%. In contrast, tech stocks face a dip following positive movements in Oracle due to AI optimism. Oracle shares impressively leap 13% to a new peak, though local tech stocks feel pressure amid geopolitical tensions.

Travel sector sees turbulence with Boeing's decline after an Air India crash.

Accent Group (ASX: AX1) reports challenging trading conditions, forecasting full-year earnings between $108-$111 million. Shares in Accent Group drop 21% amid the company's cautious outlook. Accent Group has said trading conditions remain challenging in the second half of FY25...notably in the footware space. Overall Like for Like sales from January to the 8th of June were down 1%. Gross margin in the second half so far is down 80 basis points to the comparable period last year.

China's new home prices fell the most in seven months in May, with the figures suggest the effects of a stimulus blitz last September is wearing off.