Australian shares were lower at 12.15pm AEST, with the S&P/ASX 200 falling to 8,926.6 as investors reacted to signals from the US Federal Reserve that interest rates could rise later this year. Markets reacted to the Fed’s latest meeting, where rates were left unchanged but policymakers indicated inflation pressures could require further tightening. The Australian dollar fell overnight before recovering to around US70.3 cents as investors reassessed the global interest rate outlook.
Rate-sensitive sectors led the declines, with technology stocks weakening as WiseTech Global and Xero both retreated more than 3%. Financials also reversed earlier gains, with National Australia Bank, Westpac, Commonwealth Bank and ANZ all trading lower. Materials weighed on the market as gold miners fell on weaker bullion prices and iron ore slipped below US$99 a tonne, dragging BHP and Fortescue lower. Energy stocks were more resilient despite softer oil prices, with Woodside posting gains while Santos was little changed.
In company news:
Actinogen receives third positive safety review for Alzheimer’s trial
Actinogen Medical (ASX: ACW) has received a third positive recommendation from the independent Data Monitoring Committee overseeing its pivotal XanaMIA Phase 2b/3 Alzheimer’s disease trial, with the committee recommending the study continue without amendment. The review assessed safety data from all 247 participants enrolled in the trial, including more than 100 patients who have completed the full 36-week treatment period. The company said the outcome further supports the safety profile of its lead drug candidate Xanamem, an oral therapy designed to reduce cortisol levels in key areas of the brain. Managing Director and CEO Dr Steven Gourlay said the latest review increased confidence in the suitability of Xanamem for longer-term treatment. Final topline results from the trial remain on track for release in November 2026.
Viking Mines advances Linka with encouraging ore sorting results
Viking Mines (ASX: VKA) has reported positive initial results from ore sorting testwork at its Linka Tungsten Project in Nevada, with X-ray Transmission (XRT) technology successfully separating mineralised material into distinct product and waste streams. Testwork completed by TOMRA on samples from the Conquest Pit and Linka Stockpile directed 67.8% and 56.1% of material respectively into product streams, while visible scheelite mineralisation was identified in the high-grade fraction from the Conquest Pit sample. The program utilised TOMRA’s newly released CONTAIN™ deep-learning software as part of a three-stage sorting process designed to maximise recovery of tungsten-bearing material.
Pure Resources highlights weight advantage of CNTF technology
Pure Resources (ASX: PR1) has reported new results from its Carbon Nanotube Fibre (CNTF) program, highlighting a significant weight advantage over conventional thermal management materials. The company said CNTF can achieve copper-level thermal conductivity while operating at approximately half the density of aluminium and around one-sixth the density of copper. On a system level, Pure believes thermal management architectures using CNTF could be up to three times lighter than aluminium-based systems and 5.5 times lighter than copper alternatives while delivering equivalent thermal performance. The company said the lightweight characteristics could be particularly relevant for AI data centres, defence systems, aerospace applications, robotics and drones, where thermal management weight can limit payload, power density and overall system performance.
