Global markets struck a cautious tone at the start of the week. US sharemarkets were closed for the Martin Luther King Jr Day holiday, but futures pointed lower, with S&P 500 futures down close to 1%, while gold and silver surged to fresh record highs as investors sought safe havens amid rising geopolitical uncertainty. European stocks fell as tariff threats linked to President Donald Trump’s push for control of Greenland weighed on sentiment, pushing the pan-European Stoxx 600 down 1.23%, with autos and luxury goods leading the declines.
Attention is now turning to what comes next, with markets watching President Trump’s scheduled appearance at the Davos global summit and a possible US Supreme Court ruling on tariff policies. Against that backdrop, Australian shares are set to open lower, with ASX 200 futures down 31 points, or 0.4%, to 8813. With no major local economic data due, focus is shifting to the domestic reporting season, with results from BHP and Hub24 due Tuesday, followed by Rio Tinto on Wednesday and Fortescue on Thursday.
In company news,
Fletcher Building sells construction arm to VINCI for $316m
Fletcher Building (ASX:FBU) has agreed to sell its New Zealand construction division to France’s VINCI Construction for $315.6m, with the price potentially rising to $334.1m depending on the outcome of several contracts still under negotiation. The sale includes Higgins, Brian Perry Civil and Fletcher Construction Major Projects, but excludes South Pacific operations and legacy liabilities such as the New Zealand International Convention Centre. Fletcher expects to book additional provisions of $55m–$65m for retained legacy claims and said completion is targeted before the end of calendar 2026, subject to regulatory approvals. About 2,300 employees will transfer with the business, as the group continues its shift toward a simpler, building-products-focused portfolio.
Origin extends Eraring operations through to April 2029
Origin Energy (ASX:ORG) will extend the operation of all four units at the Eraring Power Station in NSW until April 2029, pushing back its previously flagged closure date of August 2027. The decision follows warnings from the Australian Energy Market Operator about system security risks during the energy transition, and comes despite progress on new transmission and battery infrastructure. Origin said the extension would not affect its emissions targets or net zero ambitions, and confirmed no further major maintenance overhauls are planned. Beyond closure, the Eraring site will remain central to the National Electricity Market through a 700MW / 3,160MWh battery project, with final stages due online in early 2027.
Telix clears key regulatory hurdle for prostate cancer imaging in China
Telix Pharmaceuticals (ASX:TLX) has secured acceptance from China’s National Medical Products Administration for a New Drug Application covering Illuccix, its PSMA-PET imaging agent for prostate cancer. The application is backed by positive Phase 3 data from a China-specific registration study, which showed a patient-level positive predictive value of 94.8% and led to treatment-plan changes in more than two-thirds of patients. The filing, submitted with partner Grand Pharmaceutical Group, marks Telix’s first regulatory submission in China and targets a large and growing market, supported by rapid expansion of PET/CT infrastructure. Illuccix is already approved across the US, Australia, Europe, Canada and Brazil.
True North Copper confirms scale of Mt Oxide discovery
True North Copper (ASX:TNC) reported further drilling results from its Mt Oxide project in northwest Queensland, confirming the scale, thickness and continuity of copper-silver-cobalt mineralisation at the Aquila discovery and validating a parallel system at Acanthis. The company said mineralisation is now defined over more than 1,000m of strike, with estimated true widths of up to 60m, and remains open at depth and along strike. First-pass drilling at Acanthis intersected copper mineralisation aligned with geophysical anomalies, supporting district-scale potential. The results underpin a fully funded 2026 exploration program focused on step-out drilling, deeper testing and expanded geophysics.
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Source: Finance News Network
