The Australian sharemarket is set to finish the week lower despite a Friday rally, with the S&P/ASX 200 up 0.4 per cent at 8,865 by midday but still down 1.2 per cent for the week. Markets followed Wall Street higher on growing expectations of a US Federal Reserve rate cut after softer US jobs data, with the big four banks, technology, retail and real estate sectors leading Friday’s gains.
On Friday, NAB rose 0.9 per cent by midday, Westpac and ANZ each gained 0.5 per cent, and tech stocks Life360, Zip and NextDC all climbed more than 3 per cent. Consumer and property names also rallied, while Qantas edged higher after announcing its CEO’s bonus would be docked and Orica gained after flagging stronger earnings.
The rebound followed heavy midweek volatility. The ASX fell sharply on Wednesday, its biggest one-day drop since April, as surging bond yields spurred broad selling across all sectors, led by tech and real estate. Losses earlier in the week came as investors rotated into safe-haven gold stocks on concerns about US Fed independence and as several large companies traded ex-dividend. Thursday’s 1 per cent rebound recouped some of Wednesday’s losses, boosted by a Wall Street rally on dovish rate expectations.
Across the week, gold miners and select company announcements provided pockets of strength, but the broader index remained under pressure from global rate concerns, bond market moves, and political uncertainty in the US.
In Friday’s company news,
Critical Resources to launch maiden drilling at Amoco gold–antimony project
Critical Resources (ASX:CRR) is preparing to commence its maiden drilling program at the Amoco gold–antimony project in New South Wales. Mobilisation is scheduled for late September, with drilling to begin in early October targeting a structural corridor with high-grade surface assays of up to 17.9 g/t gold. Fieldwork has already identified new mineralised zones, and soil-geochemistry results are pending to refine drill targeting. Amoco lies in the New England Fold Belt, near other significant antimony–gold projects, underscoring its potential. The company also continues advancing its Canadian lithium (Mavis Lake) and Australian base metals (Halls Peak) projects.
PYC Therapeutics reports promising early data in rare blindness trial
PYC Therapeutics (ASX:PYC) has completed dosing in its Phase 1 single ascending dose study of PYC-001, a therapy for Autosomal Dominant Optic Atrophy (ADOA), a rare blinding eye disease with no approved treatment. Early results show the drug was safe and well tolerated, with no serious adverse events, and there are encouraging signs of improved visual acuity in treated eyes. The company will present these findings at the Neuro-Ophthalmology Society of Australia conference this month. Preparations are underway for a global Phase 1/2 multiple ascending dose study, expected to commence in Q4 2025.
VRX Silica secures works approval for Arrowsmith North project
VRX Silica (ASX:VRX) has received works approval from Western Australia’s Department of Water and Environmental Regulation for its 100%-owned Arrowsmith North Silica Sand Project, following recent environmental and mining approvals. The approval permits construction and operation of a processing plant and associated infrastructure. Arrowsmith North hosts a 259Mt reserve grading 99.5% SiO2 and is positioned to supply the Asian foundry, container glass and flat glass markets. First production is targeted for H2 2026, with VRX working on offtake agreements, logistics, and project finance. The project is expected to deliver long-term regional jobs and royalties.
Vulcan Energy signs first major contract for Lionheart lithium project
Vulcan Energy (ASX:VUL) has signed its first major project contract for Phase One of the Lionheart Project with Canada’s NORAM Electrolysis Systems (NESI), which will supply electrolysis technology for producing lithium hydroxide at its Central Lithium Plant in Frankfurt. The agreement includes engineering, procurement, and commissioning support, with equipment backed by performance guarantees and bonds. The deal follows the successful operation of Vulcan’s pilot electrolysis plant and coincides with a German–Canadian partnership on critical minerals. Vulcan plans to finalise further contracts and secure financing before commencing full construction in the second half of 2025.
Copyright 2025 – Finance News Network
Source: Finance News Network
