Daily Roundup

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Macquarie Technology Group is making a major play in Sydney's tech landscape, exercising an option to acquire a 34,200-square-meter land parcel in Macquarie Park for $240 million. The company plans to develop an engineering and technology campus that will sit alongside a roughly 200MW data centre, featuring advanced air cooling technology and minimal water usage. What sets this project apart is its community focus—the development will include a new park, community garden, and art gallery, all designed in collaboration with Macquarie University. Completion is expected by late 2029, with funding coming from existing cash reserves and the group's corporate debt facility.

On the commodities front, BHP Group delivered a stellar performance, posting record iron ore and approximately 2 million tonnes of copper production for the year ended June 30, 2026. The mining giant managed this impressive output while keeping costs firmly in check, with every asset expected to stay within unit cost guidance despite inflationary pressures and global supply chain headwinds. Looking ahead, BHP is guiding for FY27 copper production between 1,650 and 1,800 kilotonnes and iron ore output between 260 and 272 million tonnes. The company also made solid progress on its copper expansion ambitions, advancing applications to restart Cerro Colorado in Chile and defining development pathways for several other projects, while expanding US copper options through Resolution and its Faraday investment.

In the wealth management space, Netwealth Group is riding a wave of momentum, reporting record total funds under advice of $135.7 billion, up 20% year-on-year. The company saw custodial FUA inflows of $8.4 billion in the June quarter, up 11% on the prior corresponding period. Managed Account FUM also hit a record $30.6 billion, up 30% year-on-year, with net flows of $1.2 billion during the quarter. Account numbers grew by 5,601 to reach 182,276 total accounts. For FY27, Netwealth is expecting net FUA flows of $18 billion to $20 billion, representing growth of 17% to 30% on FY26, with an EBITDA margin of approximately 47%.

The healthcare and biotech sector showed mixed but encouraging results. Microba Life Sciences reported explosive growth in its core testing business, with revenue up 92% year-on-year and volume surging 78% in FY26. The company's enterprise account adoption in Australia is accelerating, with 43 accounts signed and over 5,600 tests sold—up 87% quarter-on-quarter. Microba is on track to launch its new GI Navigator testing product in September, a move expected to open up new market opportunities. The company completed a $5.0 million placement to fund its path to cashflow break-even and is anticipating full group break-even on a run-rate basis in calendar year 2027.

Meanwhile, Immuron Limited posted more modest but solid gains, with global FY26 sales up 6% to AUD$7.7 million. Australia led the way with a 10% increase to AUD$5.8 million, while the USA saw sales rise 7% in AUD terms (13% in USD) to AUD$1.8 million. Canada was the outlier, experiencing a sharp 55% decline to AUD$0.2 million. Growth was driven by marketing initiatives and increased brand awareness for Travelan®, the company's over-the-counter immune supplement targeting pathogenic bacteria.