The Australian sharemarket fell on Friday, with the S&P/ASX 200 dropping 0.37 per cent to 8,760.6 at 12.27pm AEDT. Four of the 11 sectors traded lower as investors reacted to a technology sell-off on Wall Street. The Nasdaq plunged 2.9 per cent and the S&P 500 lost 1.2 per cent, with Meta falling 7 per cent amid renewed concerns about the scale and financing of artificial intelligence infrastructure spending. Oil prices surged to a five-month high above US$112 a barrel following drone strikes by Iran-backed Houthis on Saudi Arabian energy infrastructure. Meanwhile, demand for safe-haven US Treasuries pushed the 10-year bond yield below 5 per cent, as investors weighed rising geopolitical risks and pressure on technology valuations.
In small cap company news,
INOVIQ announces CEO departure and interim leadership arrangements
INOVIQ (ASX: IIQ) has announced that Chief Executive Officer Dr Leearne Hinch will step down on 27 October 2026 following a mutual agreement with the board. Chairman Peter Gunzburg will assume the role of Executive Chair on an interim basis, without additional remuneration, while the biotechnology company conducts a search for a new CEO. Dr Hinch has led INOVIQ for the past decade, overseeing its development into an exosome-focused diagnostics and therapeutics business. The company, which has two products in market and three in development, plans to provide an update on its future strategy at its Annual General Meeting on 25 November.
MaxiPARTS reports 26.5% increase in first-quarter operating profit
MaxiPARTS (ASX: MXI) has reported revenue of $72.8 million for the September quarter, up 2.6 per cent on the previous corresponding period, while operating net profit before tax increased 26.5 per cent to $4.2 million, based on unaudited management accounts. The improvement was supported by double-digit growth in its higher-margin Japanese parts program and Förch Australia business, alongside supply chain efficiencies, cost controls and lower interest expenses. The company expects further earnings growth in FY2027, including an eight-month contribution from its recent Air Brake Systems acquisition, with additional synergies anticipated in FY2028 and FY2029.
Acusensus secures $63 million ACT traffic enforcement contract with potential value of $210 million
Acusensus (ASX: ACE) has secured a five-year contract with the ACT Government worth approximately $63 million, excluding GST, to provide expanded traffic enforcement technology across the territory. The agreement includes two optional five-year extensions, which could increase the total contract value to approximately $210 million if exercised. The company will supply and maintain fixed and transportable camera systems capable of detecting speeding, red-light offences, mobile phone use and seatbelt violations, alongside supporting software. The staged rollout is expected to begin in mid-2027, expanding Acusensus’ existing relationship with the ACT Government and its presence across Australian road safety enforcement programs.
Hamelin Gold begins maiden diamond drilling at Day Dawn Gold Project
Hamelin Gold (ASX: HMG) has commenced its maiden diamond drilling program at the Day Dawn Gold Project in Western Australia’s Paterson Province, approximately 10 kilometres northwest of the Telfer gold-copper mine. The program will comprise around 16 holes for 1,500 metres, targeting extensions of the Aurora gold lodes below the depths reached by previous reverse circulation drilling. The campaign will also collect samples for preliminary metallurgical testing and structural analysis to improve the project’s geological model. Drilling is expected to take two to three weeks, while assay results from the earlier 35-hole, 4,000-metre Phase 2 drilling program are expected shortly.
X2M Connect signs agreement for $250 million AI data centre project in Queensland
X2M Connect (ASX: X2M) has signed an agreement with a Queensland developer for a proposed 10-megawatt AI-enabled data centre with an estimated project cost of $250 million. The site has existing development approval and a 2.5-megawatt grid connection, with a further 7.5 megawatts planned through on-site power generation. X2M has secured 60 days of binding exclusivity over the site and its power capacity, with commercial terms still to be finalised and definitive agreements targeted within 90 days. The company intends to provide project delivery and ongoing management services, with potential revenue dependent on final agreements and project execution. Together with an earlier agreement, X2M now has 20 megawatts of proposed data centre capacity under agreement, representing more than $500 million in estimated combined project costs.
