BUSINESS

Alkane Resources shares rose 7.6% as gold prices steadied, with investors weighing the miner's strong September-quarter production, first dividend and reaffirmed FY27 guidance.

Tasmea shares rose 8.07% to A$9.37 as investors returned after a sharp pullback, while the industrial services group highlighted strong results, acquisitions and risks to its growth strategy.

Minerals 260 shares rose 8.45% after the gold developer said it remained on track for a final investment decision on its Bullabulling project early next year.

PYC Therapeutics shares rose 9.4% after a recent decline, with investors assessing early PYC-003 data and awaiting further results from the biotech's kidney disease trial.

Megaport shares rose 9.6% ahead of its quarterly update, extending a rally driven by its expansion from networking into AI-focused computing infrastructure.

SpaceX and Tesla have formed independent committees to examine a potential merger, Elon Musk said, while stressing that negotiations remain preliminary and no agreement is guaranteed.

Australian shares rose for a second session, supported by mining stocks and renewed AI optimism on Wall Street, while investors awaited inflation data that could influence the RBA's next rate decision.

Shona Joy founder Shona Thatcher has announced the voluntary closure of the Australian fashion label after 26 years, citing family priorities and the demands of running the business.

China's AI-heavy STAR50 index has fallen about 40% from its July peak, erasing roughly US$480 billion in market value and raising concerns about valuations, IPOs and broader technology stocks.

Anthropic's IPO filing details rapid revenue growth, major computing commitments, extensive AI-related risks and a governance structure giving founders and a trust significant control.

Anthropic has publicly filed for an IPO on Nasdaq, but has not set a trading date, offering size or valuation as investors assess its growth, losses and governance.

Nvidia shares rose nearly 2% after Anthropic filed for an IPO and Meta announced plans to raise up to $95 billion to fund artificial intelligence infrastructure.

Surgery Partners shares jumped nearly 46% after HealthSpan Partners agreed to acquire the outpatient surgery operator for about $5.7 billion, including debt, in an all-cash deal.

Apple shares fell after reaching a record high as analyst downgrades, rising memory costs and concerns about production weighed against strong early iPhone Duo demand.

Starbucks shares rose ahead of quarterly results, with investors watching for evidence that Brian Niccol's turnaround is sustaining sales growth and improving customer traffic.

Xencor shares rose nearly 20% after early data showed its experimental kidney cancer drug produced tumour shrinkage in 45.5% of 11 evaluable patients.

EQT has agreed to acquire Range Resources in an all-stock transaction, creating a gas producer with more than $50 billion in enterprise value and extensive Appalachian assets.