The Australian sharemarket is trading lower just after midday, with the S&P/ASX 200 down 54.4 points, or 0.64%, to 8443.4 at 12.15pm AEDT, placing the benchmark on track for a third consecutive weekly decline of around 2%. Sentiment is being weighed down by rising energy costs and a shift in global interest rate expectations, as hawkish signals from major central banks prompt markets to price in further tightening. Investors are now factoring in additional rate hikes into 2026, while gold has fallen sharply and is on track for its biggest weekly drop since 2020.
Selling is concentrated in materials and industrials, with mining stocks weaker as copper prices retreat and gold producers decline alongside the drop in bullion. Energy stocks are mixed as oil pulls back slightly after recent gains, while government support measures for refiners are providing some support to the sector. In corporate news, Premier Investments is higher following a mixed first-half result, Electro Optic Systems has fallen after a share sale by its chief executive, and Flight Centre has slipped after announcing a UK acquisition.
In other company news:
Atlantic Lithium secures key approval for Ewoyaa project in Ghana
Atlantic Lithium (ASX: A11) received parliamentary ratification of the mining lease for its Ewoyaa Lithium Project in Ghana, marking a major regulatory milestone. The approval enabled the company to advance funding discussions and move toward a final investment decision, with the project set to become Ghana’s first lithium mine. The milestone significantly de-risked development and confirmed government support for the project.
AdAlta secures Canadian patent for lead fibrosis therapy
AdAlta (ASX: 1AD) was granted a Canadian composition of matter patent for its lead therapeutic candidate, AD-214, completing patent protection across all major commercial markets. The patent strengthened the company’s intellectual property position, covering the core i-body® technology and its applications in fibrotic diseases. AdAlta said the milestone enhanced the asset’s attractiveness for potential partnering and commercialisation opportunities.
Brightstar Resources completes $383m funding package to advance gold projects
Brightstar Resources (ASX: BTR) completed a $193 million equity raise alongside a US$120 million debt facility, delivering total available liquidity of approximately $383 million. The funding fully supported development of the company’s Goldfields Project through to first production, targeted for mid-2027, while also allocating capital to advance the Sandstone Project toward a final investment decision. Brightstar said the strengthened balance sheet provided flexibility to fund construction, exploration and feasibility work, positioning the company for significant gold production growth.
