Australian shares moved higher around lunchtime on Wednesday, with the S&P/ASX 200 up 0.11 per cent to 8,767.6 at 12.07pm AEST. Three of the 11 sectors traded higher, led by materials, following another strong session for technology stocks on Wall Street, where the Nasdaq reached a fresh record high. Lower oil prices also supported sentiment, with crude trading below US$100 a barrel amid hopes of increased supply through the Strait of Hormuz and Saudi Arabia’s East-West pipeline. Miners led the local gains, with BHP up 1.4 per cent and Rio Tinto 0.9 per cent, while gold, copper, lithium and uranium stocks also advanced.
In company news today,
Myer reports $42.5 million underlying profit
Myer Holdings
(ASX:MYR) has reported FY26 underlying net profit after tax of $42.5 million, down 2.9 per cent, while total sales reached $4.09 billion. Comparable sales increased 0.7 per cent, but the retailer recorded a statutory loss of $276.5 million following a $279.6 million non-cash impairment. Myer did not declare a final dividend and said challenging consumer conditions continued to weigh on discretionary spending.
Actinogen completes final patient visit in Alzheimer’s trial
Actinogen Medical
(ASX:ACW) has completed the final patient visit in its pivotal XanaMIA Phase 2b/3 Alzheimer’s disease trial, keeping topline results on track for November. The 36-week study enrolled 247 patients across Australia and the United States and is evaluating Xanamem against placebo in patients with mild to moderate Alzheimer’s disease.
HITIQ secures $1.5 million R&D loan facility
HITIQ
(ASX:HIQ) has entered into a new $1.5 million research and development tax incentive loan facility, with an initial $750,000 already drawn down. The facility carries an interest rate of 12 per cent a year and will initially be unsecured, with shareholder approval to be sought for security over forecast R&D expenditure. HITIQ said the funding would support its growth strategy across consumer, elite sport and military markets.
Firebird prepares first feedstock for demonstration plant
Firebird Metals
(ASX:FRB) has prepared the first manganese feedstock for its Australian Demonstration Plant using ore from its Oakover Manganese Project in Western Australia. A representative sample has been sent to the company’s facility in China for an October technical program, while assembly and commissioning of the Australian plant remain scheduled for the fourth quarter of 2026. Initial sample production is targeted for the first quarter of 2027.
TrivarX advances Stabl-Im towards clinical study
TrivarX
(ASX:TRI) has progressed development of its Stabl-Im imaging platform ahead of a planned clinical feasibility study. Pre-clinical studies are underway, while the company has started selecting a clinical site and lead investigator and is preparing its investigational product. TrivarX is targeting enrolment of the first participant in the first quarter of 2027, with initial study results expected in the second quarter.
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