9 January, 2026

Happy Friday! 

Another scorcher here in Melbourne with a high of 43 degrees… time for a swim and a beer

Across Markets…

The Australian sharemarket finished the first full week of 2026 lower as investors rotated out of the major banks and digested Rio Tinto’s merger talks with Glencore.

The S&P/ASX 200 opened firmer, up 0.4 per cent at 8762.70, before fading through the session to close down 3 points at 8717.80. The benchmark ended the week down 0.1 per cent.

Financials were the main drag as Macquarie fell 1.3 per cent to $206.08, ANZ 0.6 per cent to $35.45, Westpac 0.3 per cent to $37.87, National Australia Bank 0.2 per cent to $41.02, and Commonwealth Bank by 0.1 per cent to $153.22.

Materials also slumped as Rio Tinto tumbled 6.3 per cent to $143.06 after the miner confirmed discussions with Glencore about an all-stock merger. The merger would create the world’s biggest miner with a market value of more than $300 billion. Fortescue lost 0.2 per cent to $22.71, and BHP firmed 0.8 per cent to $47.72.

Energy registered the strongest gains as Brent crude rallied nearly 5 per cent amid a larger-than-expected US January inventory decline of 3.8 million barrels, and renewed concerns over Venezuelan supply. Woodside rose 2.8 per cent to $23.59, Santos by 3.5 per cent to $6.15 and Beach Energy 2.8 per cent to $1.1.

DroneShield jumped 4.4 per cent to $4.02 as it followed a bounce in US defence stocks after President Donald Trump signalled support for a 50 per cent increase in the American military budget to $US1.5 trillion. Shipbuilder Austal added 3.3 per cent to $8.06.

Source: AFR

Pic of the day

Local Equity News

ETM appoints Ballard Partners and Cohen & Company for Nasdaq listing

  • ETM taps Ballard for US Nasdaq listing, policy.

  • Cohen & Company Capital Markets named exclusive US advisor.

  • Greenland Kvanefjeld licence cleared.

Global critical minerals developer Energy Transition Minerals (ASX: ETM) has appointed highly regarded strategic advisors Ballard Partners to support its plans to list in the United States.

ETM is advancing significant exploration projects in North America, Greenland, Spain and Western Europe at a time when the US government is pouring funds into the development of a domestic critical minerals supply chain.

In its role with ETM, Ballard Partners will provide advice on public policy and regulatory issues and support ETM’s role as a responsible commercial participant in critical minerals markets.

Extensive experience

ETM managing director, Daniel Mamadou, noted that Ballard Partners has extensive experience advising clients in the critical minerals sector on how to protect and advance their strategic interests. He added that expanding engagement with US stakeholders and exploring a Nasdaq listing requires leading specialists to navigate the market’s unique challenges. He also emphasized that appointing local public affairs experts will help ensure the right support to navigate regulatory and investor relationships, accelerate North American engagement, and further the international strategy.

Cohen & Company appointment

The Ballard Partners appointment followed ETM’s naming of Cohen & Company Capital Markets as exclusive US financial advisors in the move to seek a Nasdaq listing. Mamadou said the listing would give ETM access to US capital markets, broaden its global investor base and align the company with Western initiatives to secure supply chains for energy transition applications.

The company also recently added to its international advisory board with the appointment of former Danish foreign minister, Jeppe Kofod and former Danish ambassador to the US, China, and Germany, Friis Arne Petersen.

Just before the New Year, ETM also reported that final procedural barriers had been removed for the grant of an exploitation licence for the Kvanefjeld rare earths project in Greenland.

Source: SmallCaps

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