Australian shares traded lower on Thursday, with the S&P/ASX 200 down 17.6 points, or 0.19 per cent, to 9,147.0 at 12.13pm AEST. Nine of the 11 sectors were weaker as economists increased expectations for another Reserve Bank rate rise following stronger-than-expected inflation.
Consumer stocks led the decline, with JB Hi-Fi, Harvey Norman and Wesfarmers lower, while financials were mixed. Healthcare outperformed, helped by a strong rise in Ramsay Health Care, while Qantas also gained after its full-year result. Bapcor and Beacon Lighting rallied, while Magellan Financial fell sharply.
In company news today,
INOVIQ targets ovarian cancer test validation in FY27
INOVIQ (ASX:IIQ) has outlined its FY27 priorities after reporting a net loss of $7.51 million for FY26 and closing the year with $9.35 million in cash. The company plans to complete development and validation of its EXO-OC ovarian cancer test and progress it towards a US laboratory-developed test pathway, while advancing its CAR-exosome cancer therapy program and growing EXO-NET revenues. INOVIQ said its previous EXO-OC validation study could not be completed because of sample quality issues associated with multi-site biobank sourcing. Click here to view full announcement.
Biome signs agreement to launch probiotics in China
Biome Australia (ASX:BIO) has signed a heads of agreement with H&S Global for the exclusive distribution of its Activated Probiotics range in China through cross-border e-commerce. H&S will act as Biome’s local sales and operational partner, while Biome will retain control of the brand and marketing. The initial agreement runs for three years, with a launch planned during FY27 following completion of a master distribution agreement. China’s probiotics market was valued at around US$10.8 billion in 2025 and is forecast to reach US$29.3 billion by 2033.
X2M secures first AI data centre agreement
X2M Connect (ASX:X2M) has signed its first binding agreement to deliver an AI-enabled data centre under its Managed Delivery model, with the project estimated to cost more than $250 million over three to five years. X2M expects to recognise the full project cost as revenue and earn a margin, subject to the project proceeding, as well as recurring platform and management revenue over the life of the facility. The agreement is the first conversion from X2M’s Australian data centre prospect pipeline of around 150 megawatts and remains conditional on development approval
American Uranium completes major testing at Lo Herma
American Uranium (ASX:AMU) has completed large-scale aquifer testing at Mine Unit 1 of its Lo Herma ISR Uranium Project in Wyoming. Hydrogeological data from the program is now being independently assessed by Petrotek, with a final report expected in the coming weeks. The results are expected to help determine wellfield design parameters for the targeted Q4 2026 Scoping Study and support ongoing permitting work. Lo Herma currently hosts a 9.96 million pound uranium oxide Mineral Resource, including 4.79 million pounds in the Indicated category.
Felix Gold produces antimony metal from pilot plant
Felix Gold (ASX:FXG) has successfully produced antimony metal from Treasure Creek ore using a pilot plant designed to replicate the process planned for its proposed US refinery. The program demonstrated the full process from ore through to antimony metal and confirmed the ore can be directly smelted without a concentrator, grinding or flotation stage. The work supports Felix Gold’s US refining strategy and follows its recent selection for negotiations over up to US$18 million in US Department of Energy funding. Independent laboratory assays and the final refining stage are still to be completed.
