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ASX today − Australian shares are heading for a Week 12 rebound on Tuesday, with a rally on Wall Street sending ASX futures higher. Now, heading into morning trade, futures are hovering around a +0.67% advance.
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Also coming today: The big RBA March decision, out at 2.30pm Sydney time, where the Australian Reserve Bank is expected to ‘hike’ rates.
The fact we all pretty much agree there’s a rate rise coming has done a whole lot to settle what could have been a nervy Tuesday trade day − at this stage, it’ll be a mighty shock if we “hold.” Interestingly, as our RBA has its second CY26 meet, the U.S., Britain, Japan, Canada, and more have their first this week.
Most of those central banks should hold their rates in March, leaving Australia as the main outlier as we tick back towards a cash rate over 4% (and higher).
And then over in Iran, the under-attack nation has said it may let some tankers through the Strait of Hormuz even as conflicts continue, and that hope has done enough to keep oil from flooding into the $100s today.
Now, let’s take a look at some company news.
ASX stocks to watch
On the wire, companies are starting to share their half-year earnings, with New Hope Corporation (ASX:NHC) one of the earlier starters. The exporter reported a sharp fall in the period’s earnings on weaker coal prices.
West African (ASX:WAF) came in on the same vein, telling shareholders it made $567 million on $1.54B revenue. It’s got 27Koz bullion up its sleeve, too, and another $584M sitting in the coffers for operational costs.
KFC operator Collins Foods (ASX:CKF) is on the hook for $9 million in a wider settlement after the fast food giant settled an Aussie class action for tens of millions of dollars (up to $28.8 million) over past staff pay.
Elsewhere, New Frontier Minerals (ASX:NFM) has landed tech approval for its mining lease application at the Big One Copper Deposit in Queensland.
And, Dateline (ASX:DTR) has finished high-res airborne surveys in Music Valley.
Buck and ore
Now – in forex, the Oz dollar is buying US 70.7c.
Looking at commodities, all in the greenback,
Iron Ore is largely flat, selling at $107.70 a tonne in Singapore today,
Brent Crude is down -2.7%, at $100.73/Bbl,
Gold is selling at $5,020/ounce,
US natgas futures are down -3.2%, to $3.02 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck today.
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