The Australian sharemarket traded lower at lunchtime on Monday despite a tentative rebound on Wall Street late last week, as investors remained cautious following recent volatility in US technology stocks. The S&P/ASX 200 dropped 0.49% to 8,976.20 at 12:07 AEDT after setting a new 20-day high with just two of the 11 sectors trading higher. Mining stocks led gains, while broader market sentiment remained subdued as investors awaited fresh catalysts. The weakness followed a turbulent week on Wall Street, where the Nasdaq fell nearly 5 per cent amid concerns over tighter regulation of artificial intelligence following the Democratic sweep in the US midterm elections. Nvidia shares declined around 10 per cent during the sell-off, adding to pressure on the technology sector. Although some investors returned to buy technology stocks late in the week, uncertainty surrounding AI investment and regulation continued to weigh on sentiment.
In small cap company news,
Immutep reports significant immune response suppression in Phase I IMP761 trial
Immutep (ASX: IMM) has reported positive Phase I clinical trial data for its autoimmune disease treatment candidate IMP761, demonstrating statistically significant suppression of T-cell-driven immune responses in healthy volunteers. The results, presented in a late-breaking abstract at the American College of Rheumatology’s ACR Convergence 2026 conference, showed greater immune suppression at higher drug exposure levels following a single infusion. IMP761 was well tolerated across all seven dose levels tested, with no serious or severe adverse events reported. The ongoing randomised, placebo-controlled study involves 60 healthy volunteers and is evaluating the treatment’s safety and biological activity. Immutep expects results from the multiple ascending dose portion of the trial in the first half of 2027, which will help determine dosing for a potential Phase II study. The treatment remains investigational, with effectiveness in patients with autoimmune diseases yet to be established. Click here to view the full announcement.
DUG Technology secures US$33.7 million computing contract with national oil company
DUG Technology (ASX: DUG) has secured a US$33.7 million contract to provide software and high-performance computing infrastructure to an undisclosed national oil company. The four-year agreement, commencing in November 2026, is valued at approximately US$8.4 million annually. Under the contract, DUG will provide hosted computing infrastructure and access to its DUG Insight software suite, allowing the customer to undertake advanced seismic data processing and subsurface imaging. The required computing infrastructure has already been installed and is operational, enabling work to commence immediately. The agreement expands DUG’s contracted revenue base across its geoscience software and computing services business.
PhosCo outlines US$732 million project valuation in updated Tunisia phosphate study
PhosCo (ASX: PHO) has released an updated Scoping Study for its Gasaat Phosphate Project in Tunisia, outlining a post-tax net present value of US$732 million and an internal rate of return of 52 per cent. The preliminary study estimates development capital of approximately US$199 million to establish an operation producing 1.4 million tonnes of phosphate concentrate annually over a proposed 49-year mine life. Total project revenue is estimated at approximately US$10.3 billion, with capital payback projected at 20 months after commercial production begins. PhosCo plans to advance feasibility studies and funding discussions, supported by potential investment from the European Bank for Reconstruction and Development. The project remains at the preliminary study stage, with development funding and further technical work required.
Native Mineral Resources signs joint venture covering major Charters Towers gold deposits
Native Mineral Resources (ASX: NMR) has signed a binding joint venture agreement with Citigold Corporation (ASX: CTO) covering 40 tenements across the Central, Warrior and Stockholm areas of the Charters Towers Gold Project in Queensland. The tenements contain reported Indicated Mineral Resources of 764,000 ounces and Inferred Mineral Resources of 11.5 million ounces of gold. Under the agreement, Native Mineral Resources will undertake exploration and resource confirmation drilling before deciding whether to proceed with mining. Any material extracted could be processed through its nearby Blackjack processing plant. The company will recover eligible operating and development costs, including an 8 per cent margin, before remaining proceeds are shared equally with Citigold. A further $5 million payment becomes due after production of 8,000 ounces of gold.
Elsight secures US$1 million defence order as US customer relationship expands
Elsight (ASX: ELS) has received a new order worth approximately US$1 million from an existing US defence equipment manufacturer for its Halo communications technology, bringing total orders from the customer during 2026 to US$2 million, or approximately A$2.86 million. The latest order is the customer’s largest to date, following several smaller purchases earlier this year. Halo combines cellular and satellite communications to provide connectivity for uncrewed systems operating across air, land and maritime environments. Deliveries are scheduled for the December 2026 and March 2027 quarters, with upfront payments supporting working capital. Elsight expects the orders to contribute to revenue over the coming months as it continues expanding its US defence market presence.
ClearVue Technologies opens Hong Kong office to support Asian expansion
ClearVue Technologies (ASX: CPV) has officially opened a regional office and technology showroom in Hong Kong, establishing a base for its expansion across Hong Kong, Macau and southern China. The facility showcases the company’s building-integrated solar technologies, including energy-generating glass, cladding and balustrade products designed to produce electricity while maintaining conventional architectural functions. The opening was attended by representatives from InvestHK, manufacturing partner LandVac and other regional industry stakeholders. ClearVue intends to use the showroom as a demonstration and meeting centre for developers, architects, engineers and prospective customers. The expansion supports its existing regional partnerships and developing project pipeline, although the announcement did not disclose any new customer contracts or revenue commitments.
