The Australian sharemarket ended the week flat but has rallied on Friday as Wall Street reset record highs following softer August US inflation data, which reinforced expectations for Federal Reserve rate cuts. The S&P/ASX 200 rose 74.3 points, or 0.8 per cent, to 8879.3 at midday, with 10 of 11 sectors in positive territory. Banks were among the strongest performers, with Commonwealth Bank, Westpac, ANZ and NAB all climbing more than 1 per cent, while materials also advanced as gold stocks surged, Regis Resources jumped 4.8 per cent and Bellevue Gold and Capricorn Metals gained more than 2 per cent each. BHP rose 1.3 per cent, though energy stocks lagged, with Woodside down 2.5 per cent and Karoon off 3 per cent.
The rally followed cooler-than-expected US producer price data and in-line consumer price figures, which analysts said have effectively locked in a quarter-point cut at next week’s Fed meeting, with scope for two more by year’s end. Investors rotated back into equities seen as beneficiaries of lower rates, while gold remained in favour as prices pushed above US$3639 an ounce. Despite Friday’s strength, the week was marked by sector volatility. Thursday saw the index dip 0.3 per cent to 8805 as profit-taking in banks and healthcare offset gains in gold miners and energy, with CSL and ResMed among the heaviest drags.
On Wednesday, the market snapped a two-day losing streak, rising 26.9 points to 8830.4 as gains in banks outweighed steep declines in lithium miners, which plunged on news of a Chinese mine restart. BHP and Rio Tinto also fell, pressured by global growth concerns and the Anglo American–Teck Resources merger, while gold miners eased despite record bullion prices. Tuesday had seen a 0.5 per cent drop to 8803.5, led by bank and energy weakness, with Commonwealth Bank and Macquarie sliding after broker downgrades. Energy stocks were also hit after OPEC+ confirmed a production lift from October. Gold miners, however, bucked the trend, rallying strongly as bullion set fresh highs.
The week began on a softer note Monday, with the ASX 200 down 0.2 per cent as energy and banks again weighed, offsetting gains in technology. Gold miners pulled back as investors took profits despite the metal holding near record highs. Across the week, swings in commodity and banking shares dictated the market’s tone, but resilience in gold and renewed optimism on global rate cuts steadied sentiment.
In Friday’s company news,
Altech’s CERENERGY® battery prototypes show long life, high efficiency and safety
Altech Batteries (ASX:ATC) announced breakthrough results from its CERENERGY® sodium nickel chloride battery prototypes, achieving over 650 cycles with no capacity loss, nearly 100% Coulombic efficiency, and up to 92% energy efficiency, outperforming many rival technologies. Abuse tests confirmed intrinsic safety under extreme conditions, avoiding risks common in lithium-ion chemistries. Its 60 kWh ABS60 pack prototype delivered ~88% round-trip efficiency across 110+ cycles without degradation. These results support Altech’s plans to scale production in Germany and highlight its competitive position in stationary grid and renewable energy storage.
ABx Group secures GII funding for Sunrise and NSW bauxite projects
ABx Group (ASX:ABX) has signed agreements with Good Importing International (GII), securing up to A$5.4m for a 75% stake in its Sunrise Bauxite Project in Queensland and granting GII a nine-month option to invest A$4.8m for 75% of its Taralga and Penrose bauxite projects in New South Wales. The Sunrise project holds 37Mt of gibbsite-type bauxite and will leverage Bundaberg Port infrastructure, while Taralga and Penrose add further large-scale resources with potential high-value refractory grades. ABx retains its Tasmanian bauxite projects and continues development of rare earths and fluorine chemical ventures
PolyNovo trial shows NovoSorb BTM accelerates healing in large diabetic wounds
PolyNovo (ASX:PNV) released results from a randomised controlled trial showing its NovoSorb BTM dermal scaffold significantly accelerated healing in large post-surgical diabetes-related foot wounds compared with standard therapy. While overall healing rates after 12 months were not statistically different, wounds larger than 10 cm² healed in an average of 191 days versus 319 days for standard care. Acting CEO Dr Robyn Elliott said this reduction of more than four months provides a major benefit to patients and health systems, with chairman David Williams noting the results may aid US adoption pending CMS reimbursement changes
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