A sharp fall in global markets overnight, amid concerns over stretched valuations and a growing realisation that there might not be a rate cut by the Federal Reserve any time soon, all took their toll on the local bourse during Friday's session.
All sectors continued to trade in the red heading into lunch, with the IT sector down 4.5% today, extending its fall to around 19% over the last month.
While trading halts were aplenty today, only a handful of brave stocks dared to defy major falls on global bourses overnight – with the Dow Jones, S&P 500, Nikkei 225, TFSE 100 and Nasdaq all down between 1.05 and 2.29% - by issuing price-sensitive announcements today.
With the SPI 200 futures down 136 points, no one expected the market to open higher today, and by midday the All Ords and ASX 200 were both down around 1.40% - wiping $37 billion in market value.
Wagners Holding Company rises after posting 1Q trading update
Desperate to find morsels of blue sky today, the market gave a trading update by construction products mid-cap stock Wagners Holding Company Ltd (ASX: WGN) an immediate thumbs up.
The stock managed to avoid the market downturn, trading up 3.3% by 2:25 pm AEDT (3:25 am GMT) after announcing strong 1Q FY26.
However, on any other day, the market reaction to revelations that the company expects both half-year and full-year earnings to come in well above last year's results may have been less muted than they were today.
The company expects first-half FY26 earnings to be between $31 to $33 million, compared with $20.3 million for the same period last year, and full-year earnings to be $52 million to $56 million, compared with $41.8 million for FY25.
Commenting on today’s update, managing director Cameron Coleman told shareholders at today’s AGM that the last quarter of FY25 had been "particularly strong" for the company, and this had continued into the current financial year.
Underscoring the company’s robust outlook was the company's construction materials division, which has witnessed increased demand for its cement and concrete volumes, with margins improving in concrete due to high plant utilisation.
The company's project services division also flagged improvement in the bulk haulage business, with scheduled price increases and lower repair and maintenance costs delivering improvement compared to the same period last year.
“Looking at the full year, a buoyant construction sector across South-East Queensland will provide strong demand for our construction materials,” said Coleman.
“With the opening of at least two new plants in FY26, concrete volumes are expected to improve on the prior year, which drives volumes through our cement, fly ash and quarry businesses. Market conditions are expected to improve resulting in margin expansion.”
Looking forward, Coleman also flagged an increase in capex in FY26 as it preps for an expected increase in demand for products and services, with the residential housing market in South-East Qld and infrastructure demand for the Brisbane 2032 Olympics underpinning business growth.
Wagners Holding Company has a market cap of $695 million; the share price is up 162% in one year and up 30% in the last month.
The stock appears to be in a strong bullish trend confirmed by multiple indicators.
Consensus is Strong Buy.
Oliver's Real Food Limited rallies on 1Q FY26 update
Meantime, while a slew of junior miners’ updates were dragged down today, Oliver's Real Food Limited (ASX: OLI) managed to put on 20%, taking the price to $0.012 following today’s update.
The small cap fast-food services specialist told the market that positive momentum seen in the first quarter has continued into October 2025, with same-store sales up 6.86% compared to the same month last year.
Total expenses in October were 23% lower ($342k) compared to October 2024, which further highlights the positive impact of the efficiency and cost reduction initiatives undertaken, as well as the closure of unprofitable stores.
Last month, the company reported a significant improvement in earnings before interest and taxes (EBIT), achieving $185,000, a 192% increase compared to the $201,000 loss in the prior corresponding period.
This positive result reflects the company’s ongoing efforts to optimise its operations and reduce costs.
The company saw a substantial turnaround in cash flow from operating activities, shifting from a negative $376,000 to a positive $769,000, representing an improvement of $1.145 million.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) also increased by 57% to $702,000, compared to $447,000 in the same quarter last year.
While company revenue decreased by $293,000 (4.82%) to $5.782 million, this was primarily attributed to strategic store closures and reduced EG Royalty income.
To the uninitiated, Oliver's Real Food Ltd stores are located along the eastern seaboard of Australia, from Melbourne up to Maryborough, Queensland.
They are often found in high-traffic areas and on major roads.
Oliver's Real Food Limited has a market cap of $7 million; the share price is up 44% year to date and up 62% in the last month.
The stock appears to be in a Medium-term rally, confirmed by multiple indicators.
Consensus does not cover this stock.
Bio-Gene Technology rallies after receiving organic listing status in US
Shares in Bio-Gene Technology (ASX: BGT) also managed to defy gravity today, with the agtech developer of novel bio-insecticides up 17.9% to trade at $0.033 after receiving organic listing status in the U.S.
The U.S. Organic Materials Review Institute (OMRI) has formally evaluated Qcide - the Company’s natural oil extract derived from Eucalyptus cloeziana - for use in organic production and has approved its listing as a Botanical Insecticide under the USDA National Organic Program (USDA NOP) in the OMRI Products List.
Qcide is a natural, non-synthetic essential oil produced and being developed by Bio-Gene as a novel insecticide, derived from Eucalyptus cloeziana and extracted by steam distillation.
Commenting on approval by OMRI - a non-profit organisation that reviews and certifies products for use in organic production and processing – the company’s CEO Tim Grogan told the market that it represents another important milestone for Bio-Gene and supports Qcide’s status as a truly natural insect control solution.
“Recognition by OMRI under this USDA organic program validates Bio-Gene’s approach to developing environmentally responsible products that meet the increasing demand for sustainable pest management worldwide,” he said.
“It also opens up new commercial opportunities for Bio-Gene and our partners to participate in the growing organic agriculture and eco-label markets.”
The OMRI listing means Bio-Gene can now use the OMRI Listed seal on Qcide marketing and technical materials, providing formal recognition that it is compatible for use in certified organic production.
Bio-Gene expects to benefit from enhanced marketability across a wide range of market segments and will be able to be used as an organic botanical insecticidal active ingredient in approved formulated products in crop protection, consumer pest control, and public health.
Earlier this year, Bio-Gene was awarded U.S. Department of Defence grants totalling A$3 million.
Bio-Gene completed Tranche 2 of a placement (Placement) of shares and SPP following approval by the Company’s shareholders at an extraordinary general meeting held on 14 July 2025.
The issue of fully paid ordinary shares in the Company (Shares) under the Placement and the SPP during this quarter raised gross proceeds of $965,000 before costs.
As previously announced on 5 May 2025, this completed the total capital raised during May to July 2025 of $2.46 million.
Bio-Gene Technology has a market cap of $10.3 million; the share price is down 26% in one year and up 36% in the last week.
The stock’s shares appear to be weak with little demand from investors.
Consensus does not cover this stock.
Tamboran Resources steady after post-September quarter update
Shares in Tamboran Resources (ASX: TBN) gave back early gains of 2.6% this afternoon to trade flat at $0.19 after the energy small cap highlighted a string of September quarter activities that the market initially found favour with.
Underpinning these developments was the advancement of its Beetaloo development activities and the strengthening of its financial position.
The Beetaloo Joint Venture sanctioned the Shenandoah South Pilot Project following execution of key commercial documents with APA Group, the Sturt Plateau Compression Facility (SPCF) Trust, financial institutions and the Northern Territory Government (NTG).
Tamboran also received consent from Native Title Holders to sell appraisal gas from the Shenandoah South Pilot Project to avoid flaring, with the NTG subsequently approving the sale under the Beneficial Use of Gas (BUG) legislation.
Commenting on today’s update, Tamboran chairman and interim CEO, Richard Stoneburner, told the market that the quarter marked a significant milestone for Tamboran with the official sanctioning of the Shenandoah South Pilot Project, paving the way for first gas sales to the Northern Territory market in mid-2026.
“Our commitment to work closely with the Native Title Holders and Northern Territory Government was recognised with the agreement to avoid flaring and consent to sell appraisal gas from the proposed Shenandoah South Pilot Project,” he said.
“We completed the largest drilling program in the history of the Beetaloo Basin, successfully delivering three 10,000-foot horizontal wells, batch drilled with the H&P FlexRig, and have commenced the stimulation of the SS-6H well.
"The three wells are fundamental to delivering gas to the local Northern Territory market, which is predominantly powered by gas.”
Today’s update follows plans announced back in September to acquire Falcon Oil & Gas to increase Tamboran’s Beetaloo acreage position to 2.9 million net prospective acres and expand its ownership of the Phase 2 Development Farmout Area.
Tamboran and Falcon shareholders are expected to vote on the transaction in the first quarter of 2026.
Last month, Tamboran completed a US$56.1 million (pre-fees) Public Offer at US$21.00 per share of common stock, with support from new strategic partner and leading energy technology company Baker Hughes.
As of 30 September 2025, Tamboran held a cash balance of US$39.6 million, with expected near-term cash inflows of approximately US$100 million following completion of the Public Offer, the PIPE transaction and a US$15 million acreage sale to DWE announced in May 2025.
Tamboran Resources Corporation has a market cap of $295 million; the share price is up 34% in one year and down 11% in the last month.
The stock appears to be in a long-term uptrend, confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.



