News 12 May 2026 - 13 May 2026

BAT shares extend rally as FDA shift gives Vuse and Velo a cleaner U.S. read
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BAT shares extend rally as FDA shift gives Vuse and Velo a cleaner U.S. read

British American Tobacco shares rose 1.72% to GBX 4,713.78 in London Wednesday, building on a 5.82% gain after the FDA eased enforcement on some e-cigarette and nicotine pouch products with pending applications. A U.S. judge also dismissed BAT’s North Korea sanctions case after the company paid $630 million in penalties. Philip Morris and Altria shares also moved on the FDA news.
May 13, 2026
Rio Tinto’s Copper Rally Gets Real, but the Easy Part of the Trade May Be Done
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Rio Tinto’s Copper Rally Gets Real, but the Easy Part of the Trade May Be Done

Rio Tinto shares rose 3.5% to 8,197p in early London trading, tracking copper futures near record highs at $6.64 a pound. Investors are focused on Rio’s copper growth at Oyu Tolgoi and other projects, while concerns remain over China iron ore demand and ESG issues. Copper production climbed 9% in Q1, driven by Oyu Tolgoi ramp-up. Rio is also considering increasing its stake in Argentina’s Los Azules copper project.
May 13, 2026
Glencore Stock Rides Copper’s Record Push, but the Rally Still Has a Coal Problem
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Glencore Stock Rides Copper’s Record Push, but the Rally Still Has a Coal Problem

Glencore shares hit a new 52-week high in London trading, rising nearly 3% as copper futures approached record levels. The company reported a 19% jump in Q1 copper output and kept 2026 production guidance steady. Polymarket put the odds of a Glencore-Rio Tinto merger announcement by June 30 at 1%. Copper traded around $6.64 a pound, up 1.6% on supply concerns and strong demand.
May 13, 2026
Intertek’s EQT Rally Turns a Slow Valuation Argument Into Deal Math
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Intertek’s EQT Rally Turns a Slow Valuation Argument Into Deal Math

Intertek shares jumped 6.9% to 5,665p after the board said it would be minded to recommend EQT’s £60-a-share cash proposal, pending due diligence. The offer, including a possible 107.7p dividend, values Intertek at about £9.4 billion. Shares remained below the offer price, reflecting deal uncertainty. Intertek paused its break-up review as EQT conducts due diligence ahead of a June 11 deadline.
May 13, 2026
UK & AU Stock Market Today: Live Updates 13.05.2026

UK & AU Stock Market Today: Live Updates 13.05.2026

LIVEMarkets rolling coverageStarted: May 13, 2026, 12:00 AM EDTUpdated: May 13, 2026, 11:58 PM EDT Federal Court Rules Coles Misled Shoppers with 'Down Down' Discounts May 13, 2026, 11:58 PM EDT. The Federal Court ruled that Australian supermarket giant Coles misled customers by promoting fake "Down Down" discounts on everyday groceries. Justice Michael O'Bryan found Coles' tactic of showing inflated "was" prices for short periods before applying "discounted" prices was deceptive. The Australian Competition and Consumer Commission (ACCC) sued Coles over the practice between 2021 and 2023, arguing the promotional campaigns disguised actual price increases amid inflation. Coles argued these
May 13, 2026
Evolution Mining’s Rally Is About Cash Flow, Not Just Gold
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Evolution Mining’s Rally Is About Cash Flow, Not Just Gold

Evolution Mining closed at A$13.32, up 2.77% on strong cash flow and a shift to A$42 million net cash in the March quarter. The stock rose ahead of a 1.2% drop in spot gold offshore, setting up a test for Wednesday’s open. Evolution produced 170,000 ounces of gold and 11,000 tonnes of copper last quarter, with AISC at A$2,220 an ounce. CEO Lawrie Conway said the company had “rapidly deleveraged” and expects more cash flow in June.
May 13, 2026
Fortescue Stock Faces Its First Test After A$150 Million Native Title Order
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Fortescue Stock Faces Its First Test After A$150 Million Native Title Order

Fortescue closed at A$21.91, up 2.29%, before announcing a court order to pay A$150 million for cultural loss to the Yindjibarndi Ngurra Aboriginal Corporation. The ASX filing came after normal trading hours, so the share price did not reflect the ruling. The award is among the largest under Australia’s native title laws. Fortescue said it will review the court’s reasons once published.
May 13, 2026
Woodside Rises With Oil, but Browse Costs Keep WDS From a Clean Breakout
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Woodside Rises With Oil, but Browse Costs Keep WDS From a Clean Breakout

Woodside Energy shares closed up 0.75% at A$30.74 on Tuesday, tracking a surge in oil prices as Brent settled 3.42% higher at $107.77. Gains were limited by concerns over rising costs and approval delays for the Browse LNG project, now estimated at A$48.7 billion. Traders remain cautious amid ongoing Strait of Hormuz disruptions and uncertainty over a U.S.-Iran peace deal.
May 13, 2026
Telstra Stock Slips as Buyback Support Meets Spectrum, Rate and Competition Risk
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Telstra Stock Slips as Buyback Support Meets Spectrum, Rate and Competition Risk

Telstra closed at A$5.26 on Tuesday, down 0.57%, with 27.23 million shares traded—well above average volume—as its on-market buyback continued. The company bought 1.66 million shares for A$8.75 million on May 12 at roughly the same price. The ASX 200 also fell, hitting a 20-day low. Investors showed little reaction to the ongoing buyback, seeking clearer upside beyond capital returns.
May 13, 2026
NAB Shares Slide as Budget Tax Shock Turns Housing Policy Into Bank Risk
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NAB Shares Slide as Budget Tax Shock Turns Housing Policy Into Bank Risk

National Australia Bank closed down 2.09% at A$37.42 Tuesday, with ANZ, CBA and Westpac also falling after the federal budget tightened negative gearing and capital gains tax rules. Investors rotated out of banks as new housing policy raised concerns over mortgage growth and credit stress. NAB’s first-half cash earnings missed estimates, and its April business survey showed confidence at -24.
May 12, 2026
Commonwealth Bank shares slide as budget housing risk hits a richly priced bank
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Commonwealth Bank shares slide as budget housing risk hits a richly priced bank

Commonwealth Bank of Australia shares fell 1.40% to A$171.57 on Tuesday, extending a three-day slide as investors reacted to federal budget changes restricting negative gearing and altering capital gains tax. The selloff hit the broader banking sector, with National Australia Bank, ANZ, and Westpac also down. CBA will raise variable home-loan rates by 0.25% from May 15 after the Reserve Bank lifted its cash rate to 4.35%.
May 12, 2026
CSL’s sell-off deepens as $5 billion writedown turns a profit miss into a trust problem
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CSL’s sell-off deepens as $5 billion writedown turns a profit miss into a trust problem

CSL shares closed at A$98.55 Tuesday, down 2.18% after a 15.96% plunge Monday, following a 90-day review that cut FY26 revenue and profit guidance and flagged US$5 billion in new impairments. Interim CEO Gordon Naylor projected FY26 revenue of US$15.2 billion and NPATA of US$3.1 billion. The stock remains near its recent low, far below its 52-week high of A$275.79.
May 12, 2026
BHP Stock Hits A$60 as Copper Turns the Miner Into a Different Trade
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BHP Stock Hits A$60 as Copper Turns the Miner Into a Different Trade

BHP shares hit a record A$60.23 and closed up 2.49% at A$59.78 on May 13, defying a 0.4% drop in the ASX 200. The rally followed strong copper prices and BHP’s increased copper production guidance. Copper now accounts for 51% of BHP’s underlying EBITDA, overtaking iron ore for the first time. CEO-elect Brandon Craig cited sector supply constraints and new project milestones at a metals conference.
May 12, 2026
Wesfarmers Nears a 52-Week Low as Retail Investors Wait for Relief That Hasn’t Arrived
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Wesfarmers Nears a 52-Week Low as Retail Investors Wait for Relief That Hasn’t Arrived

Wesfarmers shares closed at A$71.30 on Tuesday, down 1.83% and matching a 52-week low, as household-exposed stocks sold off amid higher rates and weak consumer confidence. The S&P/ASX 200 also fell 0.4%. The Reserve Bank of Australia raised rates to 4.35% on May 5. Australia’s federal budget included changes to negative gearing and capital gains tax, adding pressure to retail sentiment.
May 12, 2026
Labour Delay Puts 100 Million-Barrel North Sea Oil Prize Back in Focus

Labour Delay Puts 100 Million-Barrel North Sea Oil Prize Back in Focus

Jersey Oil & Gas said regulatory delays and government consultations have stalled progress on its Greater Buchan Area project in the UK North Sea, which holds over 100 million barrels of oil equivalent. The company warned that deferring a new tax regime to 2030 risks missing investment opportunities. Buchan remains unsanctioned, with development options still under review. Jersey shares traded near 104 pence, valuing the company at about £34 million.
May 12, 2026
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Stock Market Today

  • Australian Government Proposes Domestic Gas Reservation Scheme Impacting Santos Exports
    May 25, 2026, 8:12 PM EDT. The Australian government unveiled a draft framework mandating gas producers supply 20% of their liquefied natural gas (LNG) exports for domestic use, targeting companies like Santos, the country's second-largest oil and gas producer. The policy aims to curb export volumes to ensure local supply, with penalties up to A$100 million or export restrictions for non-compliance. It offers producers flexibility through measures like import adjustments and gas swapping but expects deficits to be made up later. Industry groups warn the scheme could undermine investment and Australia's international gas market reputation. Resources Minister Madeleine King emphasized the government's consultative approach despite industry objections. The policy reflects the Albanese administration's focus on balancing export demands with domestic energy security amid a shift towards renewable and reliable power sources.