The Australian sharemarket fell on Friday following a sharp Wall Street sell-off, where the S&P 500 dropped 4.4 per cent and the Nasdaq plunged 6.4 per cent amid concerns over AI regulation. At 12.10pm AEDT, the S&P/ASX 200 was down 76.9 points, or 0.85 per cent, to 8,988.1. Mining stocks led losses, falling 3.4 per cent, with BHP and Rio Tinto both down around 3.5 per cent. Technology stocks declined 2.3 per cent, while gains in banks, Telstra and supermarkets helped limit broader losses.
In company news, Macquarie fell 4.2 per cent despite reporting a $2.48 billion half-year profit, following a $100 million APRA capital penalty. James Hardie dropped 6.5 per cent amid challenging US housing conditions, while Nine Entertainment gained 7.2 per cent after maintaining guidance. Mayne Pharma surged 11.1 per cent following its $55.5 million business sale agreement.
In small cap company news:
ADX Energy commences Austrian well work to boost production
ADX Energy (ASX: ADX) has commenced an eight-week well work program across its Austrian oil and gas assets, targeting approximately 100 barrels of oil equivalent per day in additional production from its wholly owned Vienna Basin fields. The program includes gas and oil well enhancements, alongside Phase 2 testing of the HOCH-1 gas discovery in Upper Austria, where ADX holds a 50 per cent economic interest. Earlier testing at HOCH-1 recorded gas flows of 3.15 million cubic feet per day, equivalent to 548 barrels of oil per day. Further testing is scheduled to begin in December, with results expected progressively throughout the program.
Mayne Pharma agrees to sell international business for $55.5 million
Mayne Pharma Group (ASX: MYX) has entered into a binding agreement to sell its international pharmaceutical business to Evaris Pharma for $55.5 million in cash, subject to customary completion adjustments. The sale includes its contract manufacturing operations and Salisbury facility in South Australia, alongside its Australian and international commercial businesses. The transaction will allow Mayne Pharma to focus entirely on its US women’s health and dermatology operations, including its DistributeRx platform. Completion is expected in the third quarter of FY27, subject to regulatory approval from the Australian Competition and Consumer Commission.
BTC Health expands cardiac device distribution agreement into India
BTC Health (ASX: BTC) has expanded its exclusive distribution agreement with UK-based Exstent to include India, alongside its existing Australian operations. The five-year agreement covers the ExoVasc PEARS device, a personalised external support used in cardiac surgery to treat patients with an enlarged aortic root. BTC’s Australian PEARS revenue increased 20 per cent to $1.1 million in FY26. The company has begun regulatory preparations and discussions with Indian cardiac surgeons, with sales expected to commence following import approval from India’s Central Drugs Standard Control Organisation. The agreement includes automatic two-year renewal provisions.
Core Lithium extends high-grade lithium intersection at Blackbeard
Core Lithium (ASX: CXO) has reported further high-grade drilling results from its Blackbeard prospect at the Finniss Lithium Operation in the Northern Territory. Final assays from drill hole NMRD108 extended a previously reported intersection to 74 metres grading 1.32 per cent lithium oxide from 209 metres, representing the second-longest mineralised intersection recorded at Blackbeard. Another hole returned 76.7 metres at 0.77 per cent lithium oxide, including higher-grade zones. The prospect is located less than 20 kilometres from Core’s existing Finniss processing plant. Drilling is continuing as the company evaluates opportunities for resource growth and mine life extension.
Volt Resources receives first US$225,000 payment under US graphite funding agreement
Volt Resources (ASX: VRC) has received the first US$225,000 instalment under a US$5.4 million funding agreement with the US Department of War for domestic graphite production. The funding is structured as 24 equal monthly payments and will support the expansion of Volt’s US team, alongside the purchase and installation of equipment for high-purity and ultra-high-purity graphite processing and testing. The investment will advance development of the company’s US Customer Application and Research Centre and proposed graphite refinery in Alabama. The funding follows the contract award announced in September 2026.
