ASX closes flat; HUB24 falls 9%

The news: The Australian sharemarket ended flat as investors continued to face uncertainty regarding peace negotiations between the US and Iran after President Donald Trump said he was unlikely to extend a ceasefire deal.

The benchmark ASX 200 index fell 0.04% to 8,949.4, with six of the 11 sectoral indices ending in positive territory.

Biggest movers:

• HUB24 (-8.6%) — Exercised an option to acquire HTFS Nominees, the trustee of its super fund and subsidiary of EQT Holdings. Also reported a 9% year-on-year increase in its platform inflows to $4 billion in the third quarter of FY26, driven by strong retail net inflows.
• MA Financial (+3.7%) — Reported a 44% year-on-year increase in assets under management to $14.8 billion in the first quarter, however total assets under management fell 3% over the quarter.

Other news:

• Lynas Rare Earths (-2.1%) — Quarterly gross sales revenue reached $265 million in the third quarter of FY26, about 215% more than the previous corresponding period.
• Atlas Arteria (-0.9%) — The toll road operator reported a 0.1% rise in proportionate toll revenue for the three months to 31 March.
• Challenger (0%) — Tightened its FY26 earnings guidance after reporting a jump in third-quarter life sales.
• Rio Tinto (+0.8%) — Posted a 7% year-on-year increase in copper equivalent production for the first quarter of 2026, driven by output growth at the Oyu Tolgoi mine.