Australian shares traded higher at midday, with the S&P/ASX 200 up 103 points, or 1.2 per cent, to 9,050.8 at 12.40pm AEST. The market climbed to a five-month high after June inflation came in below expectations, prompting investors to scale back expectations of an August interest rate rise and boosting confidence across most sectors.
Healthcare and consumer stocks led the gains, with CSL, ResMed, JB Hi-Fi and Harvey Norman advancing on hopes that borrowing costs will remain unchanged. Rio Tinto jumped after posting stronger-than-expected half-year earnings, while Mineral Resources and Woodside Energy also gained on solid operational updates. Financials underperformed the broader market despite the positive sentiment.
In small cap company news,
Hiremii posts positive EBITDA and unveils AQYR rebrand
Hiremii (ASX: HMI) reported positive adjusted EBITDA and operating cash flow for the June quarter, alongside record gross profit and annual revenue of $32 million. The company said stronger margins and growth in its AI-powered Workforce Intelligence platform supported the improved financial performance. The company also announced plans to rebrand as AQYR Ltd, reflecting its transition to a Workforce Intelligence business. Management said it will continue to focus on growing recurring SaaS revenue, expanding AI-enabled workforce solutions and improving profitability through FY27. Click
here to read the full announcement.
Heavy Minerals delivers robust PFS for Port Gregory project
Heavy Minerals (ASX: HVY) has completed a pre-feasibility study for its Port Gregory Garnet Project in Western Australia, outlining a post-tax net present value of A$322.8 million, a 47.6% internal rate of return and a 24-year mine life. The study also includes a maiden Ore Reserve and confirms a low-capital, conventional mining operation with development capital of A$122.1 million. The company said the study provides a clear pathway towards development, with work now progressing on a definitive feasibility study, funding options and project approvals. It also expects to release further details on its Kanmantoo Hardrock Industrial Garnet Project later this quarter.
Caspin Resources extends high-grade tin discovery at Kelpie
Caspin Resources (ASX: CPN) has reported more high-grade tin intersections from drilling at its Kelpie Deposit in New South Wales, including 20 metres at 1.79% tin with a standout interval of 3 metres at 9.32% tin. The results continue to extend the Errol’s and Stewart’s zones beyond the current resource estimate. The company said the latest drilling highlights significant resource growth potential ahead of an updated resource estimate later this quarter. Further diamond drilling is planned for August, with mineralisation remaining open at depth.
Cyclopharm secures landmark US imaging endorsement
Cyclopharm (ASX: CYC) has announced that its Technegas® product has been named the preferred ventilation agent in updated international lung imaging guidelines, marking the first revision to US guidance in 14 years. The new recommendations are expected to support broader adoption of Technegas across hospitals and health systems. The guidelines also recognise Technegas for a broader range of clinical applications beyond pulmonary embolism and identify its advantages for three-dimensional imaging and emerging AI-assisted diagnostics. The company believes the update strengthens the commercial opportunity for its US expansion strategy.
Meteoric Resources signs strategic rare earths partnership with POSCO
Meteoric Resources (ASX: MEI) has signed a strategic partnership with POSCO International to support the development of its Caldeira Rare Earth Project in Brazil. The agreement provides a pathway for POSCO to source up to 30% of Caldeira’s rare earth production while exploring project financing and downstream processing opportunities. The non-binding agreement also includes potential support from Korean export credit agencies and collaboration on technology development for Brazil’s rare earth supply chain. Meteoric said the partnership represents an important step towards commercial production and long-term funding.
Andromeda Metals commissions HPA pilot plant
Andromeda Metals (ASX: ADN) has completed commissioning of its High Purity Alumina pilot plant and begun optimisation and testwork aimed at producing commercial samples in the second half of 2026. The program will also assess potential value from silica and gallium co-products. The company said the pilot plant marks a key milestone in advancing its HPA strategy, with customer evaluation samples expected later this year. The results will support future feasibility studies and the scale-up of its proprietary HPA processing technology.
