AUS
NZ
UK
CA
USA
IND
Highlights:
SKS Technologies advances after securing a major data centre contract
Graphite and gold stocks post broad gains amid global commodity developments
Earlypay block trade and Perenti contract announcement stir sector activity
The S&P/ASX 100 index saw gold-related equities drive early momentum, buoyed by firming bullion prices in response to macroeconomic shifts including a rating downgrade in the US and weakening currency conditions. Northern Star Resources (ASX:NST), Genesis Minerals (ASX:GMD), and Spartan Resources (ASX:SPR) were among the strongest performers. Ramelius Resources (ASX:RMS), Westgold Resources (ASX:WGX), and Gold Road Resources (ASX:GOR) also trended higher, although some names such as Evolution Mining (ASX:EVN), Perseus Mining (ASX:PRU), and Ora Banda Mining (ASX:OBM) experienced difficulty sustaining intraday gains.
Graphite Stocks Lifted by US Tariffs on Chinese Imports
Graphite-related stocks surged on news that the United States will implement significant tariffs on Chinese graphite imports used in lithium-ion batteries. This sector-wide reaction was reflected across Lynas Rare Earths (ASX:LYC), Iluka Resources (ASX:ILU), Novonix (ASX:NVX), and Renascor Resources (ASX:RNU). Company statements from Novonix acknowledged the tariff development as beneficial for local supply chains.
Data Centre Deal Sparks Rally in SKS Technologies
SKS Technologies (ASX:SKS) gained after announcing confirmation of a data centre project valued in the nine-figure range, awarded by Erilyan Group. The project, located in Melbourne’s western suburbs and set to complete in the coming years, involves an international hyperscale operator. SKS expects no significant change to its revenue guidance, while profit forecasts remain aligned with prior outlooks.
Block Trade Activity for Earlypay and Webjet Group
Earlypay (ASX:EPY) underwent a large block trade, moving nearly one-fifth of its issued shares at a negotiated price. This comes after previous reports about strategic moves by major stakeholders. Meanwhile, Webjet Group (ASX:WEB) experienced another notable block trade with reports indicating a rival company has lifted its holding, intensifying acquisition speculation within the travel services sector.
Perenti Secures Long-Term Mining Contract
Mining contractor Perenti (ASX:PRN) announced a multi-year deal to provide underground services at the Obuasi Gold Mine operated by AngloGold Ashanti. The contract, covering several years and significant in scope, includes development and production services without requiring additional capital outlay from Perenti, as infrastructure investments are to be managed by the client.
Wesfarmers Adjusts Lithium Forecasts
Wesfarmers (ASX:WES), part of the asx 100 share price index, provided updated guidance for its lithium business as part of a strategic briefing. The group reduced its expected production figures and increased projected losses for the current financial year, citing weak market prices. Commissioning of the Covalent lithium project remains on track, with production expected to commence later in the year.
Hutchison Telecommunications Receives Takeover Bid
Hutchison Telecommunications (ASX:HTA) was the focus of acquisition news, as its Amsterdam-based parent company initiated a proposal to acquire all remaining shares in the Australian entity. The offer represents a premium to recent closing prices and is subject to regulatory approval. The bidder currently holds a substantial majority of the company’s shares.
Australian Agricultural Co Reports Strong Financial Performance
Australian Agricultural Co (ASX:AAC) released its latest full-year update, highlighting an increase in operating revenue and profit. The company credited improved cattle and meat sales volume along with disciplined cost management for the performance. While it still posted a statutory loss, the results marked a significant recovery compared to the previous reporting period.
Manufacturing and Services Data Shows Mixed Results
According to the latest economic indicators, the Australian private sector showed modest expansion. Business activity growth slowed while job creation remained strong. Input and output cost pressures eased, but business confidence continued to decline. Manufacturers reported reduced inventory levels and lower purchasing activity.
Ventia Services Reaffirms Earnings Outlook
Ventia Services (ASX:VNT) restated its earnings expectations during its annual general meeting. The reaffirmation follows a steady first half, with noted support from its balance sheet and defensive business segments. Guidance indicates year-on-year earnings growth within previously communicated ranges.
Top Gainers and Decliners
In early trade, Lynas Rare Earths (ASX:LYC), West African Resources (ASX:WAF), and Insurance Australia Group (ASX:IAG) gained ground, supported by sector momentum and acquisition developments. On the other side, Zip (ASX:ZIP), Telix Pharmaceuticals (ASX:TLX), and Pro Medicus (ASX:PME) posted notable declines, impacted by broader market volatility and shifts in yield-sensitive segments.
