The Australian sharemarket is down 1.4% so far on Friday, trimming a steeper early fall but still hovering near a six-month low as a stronger-than-expected US jobs report weighs on global sentiment. The S&P/ASX 200 was at 8435.70 just after midday, with all 11 sectors in the red. Materials led the losses, with BHP, Fortescue and Rio Tinto sharply lower, while gold miners retreated after an overnight pullback in bullion. Tech shares stabilised slightly thanks to a 5.1% rebound in WiseTech following a first-strike protest vote against its remuneration report. The banks also pared losses but remained weaker across the board.
Across the week, markets whipsawed between rate-driven selling and a brief mid-week rebound. Thursday delivered the strongest session, rising 1.2% as Nvidia’s blockbuster results revived confidence in the AI trade and helped the ASX 200 recover from a six-month low. Tech stocks surged, mining names firmed on stronger gold, and financials added support. That followed Wednesday’s cautious 0.3% fall, driven by investor positioning ahead of Nvidia’s earnings and lingering concerns about valuations and interest rates. Gains in gold and energy partially cushioned losses in banks.
Earlier in the week, sentiment was already fragile. Tuesday saw a 1.9% plunge, its second-largest fall of the year, as $60 billion in value was erased amid fears US rates may stay higher for longer and anxiety around Nvidia’s results. All sectors finished lower, with tech down 6% and banks and miners also sliding. Monday had set the tone with a flat finish, as investors awaited delayed US data that could clarify the timing of potential Federal Reserve rate cuts. Together, the choppy sessions leave the ASX 200 down 2.3% for the week so far, with Friday’s losses extending what has been a volatile stretch for the market.
In Friday’s company news,
District-scale uranium system emerging at Portland Creek
Infini Resources (ASX:I88) reports strong progress from Phase 2 diamond drilling at its Portland Creek Uranium Project in Newfoundland, where multiple drill holes spaced over more than a kilometre have intersected visible uranium and high pXRF readings, up to 6,600 ppm U, with additional enrichment in zinc, copper and molybdenum. The company has now drilled 3,910m across five targets in a 6km structural corridor of uranium-in-soil anomalies, supporting the interpretation of a large, district-scale, structurally controlled uranium system. Planning is underway for airborne geophysics in late 2025/early 2026 and an expanded 2026 drilling campaign, with first assay results expected in Q4 2025.
Red Mountain Mining expands Yellow Pine Antimony footprint by 75%
Red Mountain Mining (ASX:RMX) has expanded its Yellow Pine Antimony Project in Idaho by 75% following encouraging field mapping, lifting its footprint to 426 hectares in one of the world’s most prospective antimony-gold regions. The project lies within 2km of Perpetua Resources’ multibillion-dollar Stibnite Gold-Antimony Project and 5km from Resolution Minerals’ Horse Heaven discovery, where drilling has returned long gold intervals from surface. RMX’s claims show similar geology, key faults, tectonic breccias and small historical workings, supporting antimony-gold potential ahead of a planned mapping and sampling program.
OMG Group secures first SANDAI matcha order in Australia
OMG Group (ASX:OMG) has secured its first Australian purchase order for SANDAI ceremonial-grade Japanese matcha under its new five-year exclusive supply agreement. The $16,000 inaugural order was placed by a customer who participated in sampling trials and has requested air-freight delivery for use in a ready-to-drink beverage, highlighting strong early demand in a growing product category. This creates a new high-margin wholesale revenue stream for OMG, with the first container shipment scheduled for January 2026 and expanded retailer outreach underway to support a strong FY26 sales outlook.
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Source: Finance News Network
