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Treasury Wine Estates $TWE warned it expects only modest earnings growth from its US luxury portfolio over the coming fiscal year amid weaker consumer demand and economic uncertainty.

$TWE, which has pivoted toward higher-margin luxury products amid waning global appetite for budget and bulk brands, on Tuesday said that it expects fiscal 2026 net sales revenue for its Daou label to fall short of its low double-digit medium-term target.

The ASX-listed vintner $TWE has twice this month called out weak US consumer demand. Three weeks ago, it slightly lowered its current-year earnings guidance on softer US shipments of its lower-priced products, notably in the sub-US$15 category.

Penfolds and Daou are still expected to lead group growth in net sales revenue and so-called Ebits--its key earnings metric--over the year starting July 1, $TWE said.

$TWE anticipates low to mid double-digit Ebits growth from Penfolds, with Asia sales and marketing investment increasing to build on momentum seen in the current fiscal half.

$TWE said it expects only modest Ebits growth in its Treasury Americas portfolio "due to economic uncertainty and weaker consumer demand."

$TWE said it plans an on-market buyback of up to 5% of its stock, reflecting its belief that the shares are materially underpriced. It will announce the buyback in August alongside its fiscal 2025 results, it added.

The Australian share market is lifting at open on Tuesday following the news of potential ceasefire between Iran-Israel. The #ASX200 is 74pts or 0.9% higher to 8,549. Nine of the 11 sectors are higher. Materials is adding most while energy sector is trading sharply lower.

Australian casino group Star Entertainment $SGR said on Tuesday it has appointed Jennifer Cronin as the interim chief executive officer for its Star Gold Coast casino.

Australia's AVZ Minerals said on Tuesday it has been unable to resolve a legal dispute with the Democratic Republic of Congo over mining rights to the Manono lithium deposit.

The unresolved issue poses a potential hurdle for California-based metals exploration firm KoBold Metals' plans to acquire AVZ Minerals' stake in one of the world's largest hard rock lithium deposits.

Collins Foods $CKF surges as much as 26%, the most on record on Tuesday, after reporting adjusted net income for the full year of $51.1 million, above analyst estimates.

The S&P/ASX 200 index rose 0.9% to 8,554.20 on Tuesday, halting a five-day retreat after US President Donald Trump said that Israel and Iran had agreed to a ceasefire. Financial stocks led the advance in the Australian benchmark, up 1.7%. #ausecon

Virgin Australia will begin trading at midday after raising $685 million in an initial public offering. The relisting comes amid wild swings in oil prices due to the war in the Middle East, which has affected airlines stocks in the last week due to their exposure to fuel prices.

Australian shares rose on Tuesday, led by gains in banks and miners, as US President Donald Trump's announcement of the Iran-Israel ceasefire lifted investor sentiment globally. The S&P/ASX 200 index advanced 1.1% to 8,569.50 points.

Financials hit a record high, climbing 1.8%. The "Big Four" banks added between 1.4% and 2.1%.

Miners advanced 1.5% in their strongest trading session in more than two months on the back of stronger iron ore prices due to improving short-term demand prospects in top consumer China. BHP $BHP and Rio Tinto $RIO gained 1.9% and 2.2%, respectively.

Energy stocks fell as much as 5.1% to a one-week low and were set to snap two sessions of gains as oil weakened after the ceasefire announcement relieved worries of supply disruption in the area. Woodside $WDS and Santos $STO lost 6.5% and 1%, respectively.

Virgin Australia $VGN shares opened 8.3% higher on Tuesday after it raised $685 million in an initial public offering, a transaction dealmakers hope will revive a flat-lining listings market.

The airline sold 236.2 million shares at $2.90 each, valuing it at $2.32 billion on a fully diluted basis. The stock began trading at $3.14, outpacing a 1.2% gain in the Australian benchmark S&P/ASX200 index.