ASX braces for a rate rise

The ASX 200 fell 0.2% this week, a third straight weekly decline, after RBA governor Michele Bullock warned a parliamentary committee that inflation risks were building and flagged another rate rise could be on the table. Markets are now pricing a 95% chance of a rate rise to 4.6% at the RBA’s meeting early next week. On the back of this, property stocks led the sell-off as the rate-sensitive sector felt it first, while ongoing Middle East tensions added to the cautious mood.

The week’s best performers 

4DMedical (ASX:4DX) +28.27%

4DMedical, the lung-imaging medtech stock is back. After a volatile year, 4DX has surged 28.27% with no catalyst behind it. The stock is one of the ASX's most shorted, with around 12.4% of its shares reported short as of the 11th of September. Their FY26 revenue figure improved by 21% this year to $7.1m but at $4.21, the stock still remains 44% below its 52-week high, so there is a long way to go before there is a real turnaround.

Telix Pharmaceuticals (ASX:TLX) +13.91%

Telix Pharmaceuticals climbed 13.91% after the US FDA approved Pixclara, its brain cancer imaging agent, making it the first approved FET-PET scan for glioma in the US, adding to the existing Illuccix franchise for prostate cancer. The catch is that approval isn't actual revenue. While it’s one step closer, reimbursement and rollout speed across imaging centres will decide how much Pixclara actually adds to its revenue. 

IperionX (ASX:IPX) +13.64%

Titanium mineral and metal developer, IperionX, rose 13.64% despite no confirmed company announcement behind the move, more a sign of renewed appetite for US critical minerals plays than any single catalyst. The company is building an integrated titanium supply chain, pairing its Titan Project in Tennessee with metal production in Virginia. With no revenue yet, the real test is getting plants commissioned and customers qualified on schedule. 

This week's worst performers

Mineral Resources (ASX:MIN) -11.02%

The iron ore and lithium miner, Mineral Resources, fell 11.02% as the broader lithium sell-off dragged it down again. Lithium carbonate slid after a Chinese consultancy widened its inventory survey, inflating reported stockpiles, and Beijing paused approvals for new battery storage projects. For MinRes, a lithium downgrade hurts since their lithium division generated $771m of earnings (EBITDA) in FY26.

Elevra Lithium (ASX:ELV) -10.49%

Another lithium miner, Elevra Lithium fell 10.49% as the same sell-off pushed Chinese lithium carbonate futures to 37% below their May peak. Macquarie argues the market has overreacted, since Australian producers sell spodumene concentrate rather than carbonate, and rates Elevra the cheapest of the big four lithium stocks on an Outperform rating. 

Lendlease Group (ASX:LLC) -10.32%

Lendlease Group, the property and construction group, fell 10.32% after posting a $749m loss for FY2026, mostly from writedowns tied to the legacy assets it's been selling off. The core business actually turned a $233m profit once those writedowns are stripped out, but management still cut the dividend to 15.7 cents a share from 23.0 cents, and investors are reading that lower payout as a sign things are worse than they're letting on.