Australia Daily Briefing

WiseTech Global shares fell sharply after the ACCC executed a search warrant at the company's offices investigating alleged competition law breaches, The Market Herald reported. The raid adds a serious regulatory overhang to WiseTech, which has already faced investor scrutiny over founder conduct and governance in recent periods. ACCC raids are rare enforcement actions — the agency typically exhausts softer investigative tools first. The market's selloff reflects uncertainty about scope, timeline, and potential financial penalties. This is a significant negative catalyst for ASX tech sector sentiment.

Newmont (NEM) surged 7.8% today — the largest single-session move for the gold major in recent months — as safe-haven positioning surged following the US-Iran diplomatic breakdown and bond yield pressure. For ASX-listed gold and mining exposure, this creates a direct performance channel: Australian super funds with resource overweights are today's beneficiaries. Evolution Mining separately reported Q4 FY26 earnings with CEO Lawrie Conway noting operational consistency. The dual data point — spot gold demand AND operational delivery from mid-tier miners — reinforces the gold sector's current fundamental + technical strength.

Lycopodium set FY27 revenue targets of $540-580M with NPAT guidance of $54-58M, SmallCaps.com.au reported, highlighting its expanding global engineering pipeline in minerals processing. The company's solid balance sheet and order visibility support the growth thesis for Australian engineering services exposed to the global mining capex cycle. With gold, copper, and lithium producers investing in new processing capacity, companies like Lycopodium that provide project execution services benefit from the extended resource boom — even as some commodity prices consolidate.