US sharemarkets were mixed on Wednesday, with the S&P 500 briefly crossing the 7,000 level for the first time in intraday trading before slipping 0.01 per cent to close at 6,978.03. The Dow Jones Industrial Average edged higher, while the Nasdaq Composite outperformed on the back of gains in technology stocks. Earlier momentum was driven by strength in semiconductors after upbeat earnings and guidance, but the rally failed to broaden and faded into the close.
Markets also digested the Federal Reserve’s latest policy decision, with rates left unchanged at 3.5 per cent to 3.75 per cent and policymakers signalling comfort with holding policy steady amid solid economic growth and signs of labour market stabilisation.
Australian shares are set to open flat, with ASX 200 futures pointing to a 4-point fall to 8,893. Companies reporting results include Whitehaven Coal, Iluka Resources, Liontown and Mineral Resources, while Mayne Pharma is holding its annual general meeting.
In company news,
IGO lifts earnings as lithium prices recover and Greenbushes ramps up
IGO Limited (ASX:IGO) reported a stronger December quarter, driven by improved performance at its Greenbushes lithium operation and a rebound in realised spodumene prices. Spodumene production rose 10% to 352kt, while realised prices increased 16% to US$850/t, lifting Greenbushes’ EBITDA margin to 64%. First ore was processed at the CGP3 expansion in December, marking a key commissioning milestone. Group underlying EBITDA rose to $30m, with the balance sheet remaining strong at $299m net cash, although the Kwinana lithium hydroxide refinery continued to generate losses following earlier impairment.
Imricor secures FDA clearance for NorthStar, opening US commercial market
Imricor Medical Systems (ASX:IMR) received US FDA clearance for its NorthStar® Mapping System, the first MRI-native 3D cardiac mapping and guidance platform approved in the United States. The clearance allows Imricor to commercially market its first capital equipment and software-centric product in the world’s largest electrophysiology market. NorthStar is positioned as the central software platform for MRI-guided cardiac procedures and underpins a broader pipeline of future devices and applications, strengthening Imricor’s long-term commercial outlook.
Whitehaven Coal delivers strong production as markets improve
Whitehaven Coal (ASX:WHC) reported a strong December quarter, with managed run-of-mine production rising 21% to 11.0Mt and equity coal sales up 18% to 7.0Mt. Unit costs remained at the low end of guidance, supporting margins as metallurgical coal prices improved, while net debt declined to about $0.7bn. The company said first-half FY26 production and sales provided a solid foundation for full-year performance, supported by strong operational results in both Queensland and New South Wales.
INOVIQ advances cancer diagnostics and therapeutics after $10.2m capital raise
INOVIQ (ASX:IIQ) reported progress across its exosome diagnostics and therapeutics pipeline in its December quarterly update, supported by the completion of a $10.2m capital raise. The company advanced preparations for its EXO-OC ovarian cancer screening study, which has previously demonstrated 100% sensitivity for early-stage disease and more than 99.6% specificity, with larger clinical validation work underway ahead of a targeted move to laboratory-developed test readiness by end-2026. INOVIQ also reported positive in vivo proof-of-concept results for its EGFR-targeted CAR-exosome therapy in a triple-negative breast cancer mouse model, showing superior tumour inhibition, favourable safety and precise targeting. The group ended December with $13.8m in cash and appointed Dr Rebecca Lim as chief scientific officer to lead its clinical, regulatory and manufacturing strategy across diagnostics and therapeutics.
INOVIQ (ASX:IIQ) reported progress across its exosome diagnostics and therapeutics pipeline in its December quarterly update, supported by the completion of a $10.2m capital raise. The company advanced preparations for its EXO-OC ovarian cancer screening study, which has previously demonstrated 100% sensitivity for early-stage disease and more than 99.6% specificity, with larger clinical validation work underway ahead of a targeted move to laboratory-developed test readiness by end-2026. INOVIQ also reported positive in vivo proof-of-concept results for its EGFR-targeted CAR-exosome therapy in a triple-negative breast cancer mouse model, showing superior tumour inhibition, favourable safety and precise targeting. The group ended December with $13.8m in cash and appointed Dr Rebecca Lim as chief scientific officer to lead its clinical, regulatory and manufacturing strategy across diagnostics and therapeutics.
