ASX rises as Wall Street gains; Magellan rebounds while Bega Cheese tumbles

Australian shares have extended gains after Wall Street advanced overnight on upbeat economic data and an encouraging Omicron update.

The ASX 200 was up 0.2 per cent, to 7,378, by 02:52pm AEDT.

Meanwhile, the Australian dollar was trading at 72.01 US cents.

Heavyweight financials climbed as much as 0.4 per cent, driven by gains in the so-called "Big Four" banks.

Magellan led with a 5 per cent rise in a partial rebound.

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Aboriginal people feel Labor isn’t listening to them after voice defeat, Uluru statement co-author says

One of the architects of the Indigenous voice to parliament says Aboriginal Australians increasingly feel the government isn’t listening to their views on laws and policy design, warning against closed-shop public consultations in the wake of the referendum defeat. Megan Davis, a constitutional scholar and signatory to the Uluru statement from the heart, said the re-elected Albanese government was facing growing displays of discontent and needed a new approach to improve the lives of Aboriginal and Torres Strait Islander people. Davis said Indigenous policy frameworks were failing and engagement with government was subject to growing “exclusivity”. “They consult only those who have contracts with them, or are enlisted in the Closing the Gap ‘partnership’, so to speak,” she told Guardian Australia. To read more, click here- https://www.theguardian.com/australia-news/2025/may/27/labor-aboriginal-people-voice-reconciliation-week

Sydney’s Palace Verona Cinema in Paddington shuts doors as Palace Moore Park opens in Entertainment Quarter

A popular Sydney cinema has closed the curtain on its final screening, marking the “end of the road” for the Paddington institution after 27 “cherished” years. Palace Cinema’s Verona Cinema on Oxford St has officially shut its doors and thanked the community for its support over the years. Verona held its last screening, Aki Kaurismäki’s tragicomic romance Fallen Leaves, at the weekend. “And it’s the end of the road for the Verona,” independent Australian and New Zealand film distribution company Palace Films wrote on X (formerly Twitter). “Doors are closed and glasses have come out to raise a toast to the old gal. “Thanks Paddington, and thanks Sydney. xox” The Oxford St building Verona called home for more than two decades sold in 2021, with the space to be transformed into a multi-storey office development featuring new retail and rooftop dining. To know more : https://7news.com.au/news/sydneys-palace-verona-cinema-in-paddington-shuts-doors-as-palace-moore-park-opens-in-enterta...

What you do on the weekend could be ruining your sleep, experts reveal

Everyday Australians living with a newly-identified sleep health concern could have no idea they're suffering from it. Research from Flinders University has revealed that the severity of Obstructive Sleep Apnea (OSA), a common condition caused by repeated airway collapse during sleep, increases significantly on weekends. This phenomenon may be linked to late nights, sleeping in, alcohol and smoking on weekends, leading FHMRI Sleep Health experts to dub it 'social apnea'. Know more, by visiting on this website- https://www.9news.com.au/health/social-sleep-apnea-linked-weekend-late-nights-alcohol-smoking/ab3c869f-71ef-4a6d-8938-3a99f0948fa5

The Australian Daily Times

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