ASX Preview: Australian Shares to Fall as Iran-US Tensions Rise; Ramelius (ASX:RMS) in Focus

Highlights

• Australian shares are expected to open lower following renewed Iran-US tensions and higher oil prices.
• Wall Street declined as semiconductor stocks extended losses amid AI sector weakness.
• Ramelius Resources (ASX:RMS) met FY26 production guidance despite softer June quarter gold production year-on-year.

Australian shares are expected to begin the trading session cautiously as renewed tensions in the Middle East and ongoing weakness across global technology stocks weigh on market sentiment. Investors are likely to monitor developments in energy markets alongside company-specific updates from several ASX-listed businesses. The session is expected to keep attention on the ASX 200, with activity also centred on Energy Stocks and Gold Stocks.

Global markets turn cautious

Wall Street ended lower after continued selling across semiconductor and technology companies. Artificial intelligence-related stocks remained under pressure as markets reassessed recent gains across the sector.

Although several defensive sectors delivered stronger performances, technology continued to lead declines, creating a cautious backdrop for Asian markets.

European markets also traded lower as technology companies faced renewed selling pressure, while broader market sentiment remained influenced by geopolitical developments.

Oil prices climb on Middle East developments

Energy markets strengthened following reports of renewed tensions involving the United States and Iran.

Concerns surrounding shipping activity through the Strait of Hormuz supported higher crude oil prices, with traders closely monitoring developments that could influence global energy supplies.

Higher oil prices may provide support for selected energy companies while also raising broader concerns surrounding inflation and economic growth.

Commodity markets remain mixed

Commodity markets delivered mixed performances ahead of the Australian session.

Industrial metals traded cautiously as markets balanced softer economic expectations against ongoing supply concerns.

Gold prices eased modestly as higher bond yields reduced demand for traditional defensive assets, while iron ore remained relatively stable.

Resource companies are likely to remain sensitive to further developments across commodity markets throughout the trading day.

Ramelius Resources remains in focus

Ramelius Resources Ltd (ASX:RMS) attracted market attention after confirming another year of production within company guidance.

The company highlighted stronger operational performance during the latest quarter, supported by improving activity at its mining operations.

Management also reported healthy cash generation and continued progress across its broader portfolio, reinforcing operational consistency as the company prepares for its upcoming quarterly report.

The latest update continues Ramelius Resources' record of meeting annual production expectations, maintaining its position among Australia's established gold producers.

Other ASX companies attracting attention

Several listed companies also released market updates ahead of the opening bell.

Adairs Ltd (ASX:ADH) announced an impairment related to its furniture business while indicating continued growth across other retail operations.

Ioneer Ltd (ASX:INR) announced new non-binding agreements supporting ongoing development of its lithium and boron project.

ResMed Inc. (ASX:RMD) confirmed the planned divestment of its healthcare software business as it continues focusing on its core connected healthcare operations.

Cogstate Ltd (ASX:CGS) reported stronger contract activity, providing improved visibility into future revenue.

Economic events to watch

Australian markets will also monitor domestic economic releases alongside commentary from the Reserve Bank of Australia.

Globally, attention will remain focused on upcoming commentary from the United States Federal Reserve, which could provide further insight into future interest rate expectations.

Market participants are also expected to continue following developments in global energy markets and geopolitical events throughout the trading session.

Australian shares are expected to begin the day on a softer note as global uncertainty continues influencing market sentiment. Rising oil prices, weaker technology stocks and mixed commodity performance are likely to remain central themes, while company updates from the resources, healthcare and retail sectors provide additional areas of focus. Investors will also continue monitoring geopolitical developments for any further impact on financial markets.