The Australian sharemarket reversed earlier gains by midday as renewed concerns around artificial intelligence triggered another sell-off in technology stocks, offsetting strength in miners. The S&P/ASX 200 was down 0.1 per cent at 9018, with gains in five of the 11 sectors. Gold rose about 2.5 per cent to $US5241 an ounce, supported by ongoing global uncertainty after US President Donald Trump announced a new round of tariffs, while silver also rallied. Mining stocks were broadly stronger on the back of the higher gold price, while technology shares weakened in line with heavy selling on the Nasdaq, reflecting a shift in market sentiment toward AI-related risks. Financial stocks also weighed on the index.
In individual stocks, Monadelphous rose after reporting record half-year revenue and upgrading guidance, while Viva Energy gained following a strong full-year EBITDA result. Nine Entertainment moved higher after delivering an underlying profit ahead of expectations and a stronger interim dividend. ARB Corporation fell after first-half profit declined, and Adore Beauty was lower despite reaffirming full-year guidance. Kelsian also rose after announcing the sale of its tourism portfolio.
Etherstack delivers 70% revenue growth and returns to EBITDA profit
Etherstack
(ASX:ESK) reported revenue of US$10.1 million for the year to 31 December 2025, up 70 per cent from US$5.9 million in FY24, driven by increased project revenues and growth in recurring support income. EBITDA improved to a US$2.0 million profit from a US$1.2 million loss, while statutory net loss after tax narrowed to US$0.7 million from US$3.9 million. Recurring revenues rose 62 per cent to US$3.7 million, cash receipts increased 55 per cent to US$12.0 million, and operating cash flow was positive at US$3.2 million. The company reaffirmed previously disclosed guidance targeting 60 per cent revenue growth from FY25 to FY26.
Chilwa to commence ionic clay REE program across Lake Chilwa licences
Chilwa Minerals
(ASX:CHW) outlined plans to assess ionic adsorption clay rare earth potential across its Lake Chilwa licence package in Malawi, leveraging material from existing sonic drilling programs. Previous drilling identified elevated rare earth oxides within basal clay units beneath heavy mineral sands deposits, including intervals of 48.5 metres at 1,567ppm TREO and 33 metres at 1,545ppm TREO. The planned program includes sub-sampling approximately 200 drill holes, grade distribution analysis, composite generation and preliminary leach testing to evaluate extractability, with work to run in parallel with ongoing heavy mineral sands and diamond drilling programs.
Sequoia lifts operating profit 76% despite statutory loss
Sequoia Financial Group reported first-half FY26 revenue of $63.4 million, up 4.6 per cent, with operating profit rising 76 per cent to $4.8 million. The company closed the period with $2.5 million in cash and $17.6 million in ASX-listed investments and declared a fully franked interim dividend of 1.0 cent per share.
