Join our daily newsletter At The Bell to receive exclusive market insights
ASX today – Australian shares will slip back into the red on Monday morning in Week 16 after peace talks between the States and Iran in Pakistan failed less than a week after the warring nations sat down. And, we’re already seeing escalation again, with Trump declaring the U.S. is still “fully locked and loaded” and ordering a naval blockade of the Strait of Hormuz to strangle Iran’s export revenue.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Unfortunately, this is all probably little shock to Oz traders — I even warned in our HotCopper Highlights column last week that this weekend could “hold anything for Iran, Trump, and the war.” Apparently, that meant a peace talk collapse and a likely return to U.S.-Israeli attacks on Iran quite soon.
I didn’t think it would all end this quickly, and that may be the same for most global markets, because little moved despite the about-face. The S&P 500 was last -0.57%, while the Nasdaq actually added +0.35%.
London’s FTSE slipped slightly into the red, though both the central European Stoxx and the Nikkei have been trudging along in the green, for now.
The Australian bourse had been on the way to 9,000 points for the first time since the opening week of the war, should our green futures tip have held, but now that everything is draining away, we’ll start closer to 8,930, or so.
(And I would warn, most international indexes are still in futures mode, so it could get a whole lot worse for us when they eventually open overnight.)
ASX stocks to watch
Now, for stocks on Monday morning. First up, still in war thematics for a tick, Qantas (ASX:QAN) will soon unveil aircraft that can flying new non-stop routes to London and New York. These new “Project Sunrise” flights can bypass Middle Eastern hubs and will allow Qantas to stay on track for non-stop flying from the east coast of Australia to London or New York in CY27’s first quarter.
Elsewhere, analysts are warning Bapcorp (ASX:BAP) and Amotiv (ASX:AOV) may soon see “capped” value as EV sales accelerate. Bapcor owns Autobarn, Burson, and Autopro; Amotiv, which sells oil filters, fuel pumps, and hoses.
Brambles (ASX:BSB) is facing having to pay shareholders more than $100 million in compensation after the Federal Court found the group’s financial forecasts had been too optimistic. Justice Bernard Murphy has said Brambles did not have “reasonable grounds” for the guidance it gave in FY16-17.
And finally, Dalaroo (ASX:DAL) will start on the U.S. OTCQB market this week.
Buck and ore
Now – in forex, the Oz dollar is buying US 70.1c.
And in commodities, all in the greenback,
Brent Crude has become the must-watch in Week 16; it’s already added +7% this morning to take it back over $101/barrel,
Iron Ore is up +0.5%, selling at $103.60 a tonne in Singapore,
Gold is still steady, up at $4,689/ounce,
US natgas futures are up +2%, at ~$2.70 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck today.
Join the discussion. See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
