The Australian sharemarket slipped 0.2 per cent to 9016 by mid-afternoon Friday but still held a 0.2 per cent gain for the week. Trading was subdued ahead of next week’s meeting between US President Donald Trump and China’s Xi Jinping. Energy stocks advanced after US sanctions on Russian oil companies sent crude higher, while critical minerals producers rallied, led by Mineral Resources, IGO and Pilbara Minerals. Miners were mixed, with Rio Tinto higher but BHP and Fortescue weaker, and gold producers fell despite a rebound in bullion.
Banks weighed on the market, with ANZ leading the declines while Westpac was marginally higher. Among individual moves, Whitehaven Coal slipped after reporting a $200m cash burn last quarter, Cuscal gained after its acquisition of Indue won regulatory approval, and GPT was steady after acquiring a stake in Sydney’s Grosvenor Place. Nick Scali rose slightly as its chairman announced his departure, while Mount Gibson Iron tumbled after closing its Koolan Island mine. Coronado Global also edged lower after reporting a minor roof fall at a US coal mine.
Across the week, the sharemarket swung between record highs and muted sessions. It reached a peak on Tuesday after Australia and the US unveiled a US$3bn critical minerals investment plan, boosting sentiment in the materials sector. Monday had also been positive on easing US-China trade tensions, with banks lifting strongly while miners slipped on weak Chinese data. The latter part of the week was more cautious, with energy supporting the index on Thursday but banks and technology dragging. Overall, the market managed a modest weekly gain as traders weighed optimism around critical minerals against caution ahead of global talks.
In Friday’s company news,
Vitasora expands into US rural markets as Privia Health acquisition opens nationwide pathway
Vitasora Health (ASX:VHL) will expand its Chronic Care Management (CCM) and Remote Patient Monitoring (RPM) services across 10–15 US states in partnership with Evolent Care Partners (ECP). This expansion follows the success of its Hawaii pilot and is expected to reach 20,000–30,000 patients in 2026, generating US$12–18m in recurring annual revenue. Evolent Health has announced the divestiture of ECP to Privia Health (NASDAQ: PRVA), a physician-led group with 1.5m lives under management. The acquisition significantly enlarges the platform for Vitasora’s services, with the potential to scale nationwide. The rollout is planned to begin in late 2025, with meaningful revenue impact from the first half of 2026. CEO Marjan Mikel said the move validates the Hawaii pilot and is pivotal to the company’s path to profitability.
Iondrive joins €3.1m European consortium to drive battery recycling industry
Iondrive (ASX:ION) has joined a €3.1m German government-backed consortium led by RWTH Aachen University to build a closed-loop battery recycling industry. The group aims to demonstrate that cells made from 80% recycled materials can match the performance of those using virgin metals. Iondrive will contribute €265,000 and its role is to process black mass into high-purity battery-grade metals and precursor materials using its proprietary Deep Eutectic Solvent (DES) method. The consortium also includes Accurec Recycling, Neuman & Esser, and Constantia Patz, with major European automakers expected to participate after milestones are reached. Iondrive’s DES pilot plant is under construction at the University of Adelaide and will be transported to Europe in 2026. The grant funding will cover 60% of Iondrive’s European pilot costs, up to €398,000.
Immuron launches PROIBS® in Australia to target IBS treatment market
Immuron (ASX:IMC) has launched PROIBS®, a certified medical device designed to treat symptoms of medically diagnosed irritable bowel syndrome (IBS), into the Australian market. The product contains AVH200®, an aloe-derived gel that supports the intestinal mucosal barrier and is suited for long-term use. A usability study found that 94% of users found PROIBS® helpful, with 91% reporting improved quality of life. Immuron plans an accelerated launch via online and selected pharmacies, supported by a digital and social media awareness campaign. The product will sit alongside Immuron’s Travelan® in its digestive health portfolio. IBS affects around 30% of Australians, with the domestic intestinal remedies market valued at about $221m in 2025.
