Australian shares pared earlier gains around lunchtime on Friday, with the S&P/ASX 200 up 0.14 per cent, to 8,745.0 at 12:17 pm AEST. Only four of the 11 sectors traded higher after the Reserve Bank warned of inflation risks from higher energy costs and the artificial intelligence investment boom. Investors are also awaiting the Bank of Japan’s rate decision, while locally, markets are pricing in a 94 per cent chance of an RBA rate rise later this month.
In small cap company news,
Abacus agrees to $284.8 million Storage King selldown
Abacus Group (ASX:ABG) has agreed to sell its 19.6 per cent interest in Storage King Group for total gross proceeds of $284.8 million. The sale combines a strategic transaction with Ki Corporation and an institutional block trade, with net proceeds to be used to repay debt and reduce Abacus’ gearing to around 30 per cent.
Neu Horizon completes Swedish uranium exploration campaign
Neu Horizon Uranium (ASX:NHU) has completed its 2026 summer exploration campaign across its Arvidsjaur, Krokom and Vilhelmina projects in Sweden. The program collected more than 12,000 line kilometres of airborne geophysical data, alongside ground surveys and sampling. The company is now integrating the results to define targets for its maiden drilling program, planned for early 2027.
Finbar begins construction at Romeo development
Finbar Group (ASX:FRI) has commenced construction at its Romeo apartment development in Applecross, Perth. The $192 million project is 66 per cent sold, with 103 sales generating $121.1 million in pre-sales since its market launch in March. Completion of the 155-lot development is targeted for the first half of FY2029.
AdAlta partner signs US$120 million manufacturing deal
AdAlta (ASX:1AD) says its cell therapy manufacturing partner Oribiotech has signed a 10-year agreement worth up to US$120 million with an undisclosed commercial-stage partner. The agreement will integrate Oribiotech’s automated IRO manufacturing platform into production of an existing commercial cell therapy. AdAlta plans to use the same platform for future products in its cellular immunotherapy pipeline.
Sultan applies for large copper-gold position in Namibia
Sultan Resources (ASX:SLZ) has applied for a 171.2-square-kilometre exploration licence in Namibia’s Central Damara region. The Kaalkop Project is considered prospective for copper and gold, with the company highlighting historical copper, lead and zinc exploration and limited previous gold-focused exploration across the licence area. Subject to the licence being granted, Sultan plans initial data review, mapping and rock-chip sampling.
