Aussie shares tumble as oil spikes after tankers struck
Oil prices have surged as the Middle East conflict escalates, overshadowing a plan to release millions of barrels of crude reserves to shore up supply.
Oil prices have surged as the Middle East conflict escalates, overshadowing a plan to release millions of barrels of crude reserves to shore up supply.
Hopes of a timely end to the Middle East conflict sparked a relief rally on the local bourse, but the optimism was limited, capping gains by the close.
Volatile oil prices continue to dictate stock market sentiment with the local bourse trading higher on hopes tapping reserves could shore up crude supply.
Strength in energy, mining and consumer staples stocks has capped the impact of US-led attacks against Iran on the local bourse, but major uncertainty remains.
Australia's share market has plunged as surging oil prices dimmed the global growth outlook and dragged on industrial metals producers.
Hopes of potential de-escalation in the Middle East and US assurances around crude supply have supported a lift in equities, despite a fresh wave of attacks.
Australia's share market has posted its worst weekly drop in almost a year, as oil prices continue to surge on the back of widening conflict in the Middle East.
The local bourse's value has swelled by about $85 billion in February to record highs, swept up by strong interim financial results and commodity prices.
The washout in precious metals does not appear over, with gold miners still under pressure and dragging on the raw materials sector.
All 11 locals sectors have dragged the bourse lower in its worst trading session since Donald Trump announced his Liberation Day tariffs in 2025.
Red-hot mining stocks have eased after a recent rally as other sectors catch up, helping the bourse to a modest advance by noon despite ongoing uncertainty.
Raw materials and energy stocks are supporting the local bourse, but most other sectors are in the red as the shaky start to the new year continues.
Global tailwinds have swept up the local bourse, despite worries Australia's economic soft landing will lead to interest rate hikes in 2026.
A gloomy inflation outlook from the Reserve Bank has further dampened hopes of interest rate cuts, dragging on confidence and the Australian bourse.
A potential end to the longest US government shutdown in history has buoyed investor spirits, supporting a rebound from last week's sell-off.
The local bourse has edged higher on the eve of the Reserve Bank's Melbourne Cup Day meeting, settling after reduced rate-cut hopes weighed on sentiment.
Australia's share market is within striking distance of its highest close after its best day in two weeks, as investors look past US-China trade jitters.
A lift in expectations of an interest rate cut have provided a springboard to send Australian equities to new highs, after weeks of consolidation.
Only Australia's raw materials sector has managed to close higher as the local bourse faded in a sluggish trading session.
A weak session on Wall Street and slumping commodity prices have provided a gloomy backdrop for the last session of the week as local equities edge lower.
A slump in Australian miners has dragged the bourse lower heading into the weekend, as investors took profits after a run up in commodity prices.
Gold and Bitcoin have reset their record highs and Australia's share market could do the same this week as investors position for a bullish fourth quarter.
Strong commodity prices have counterbalanced other losses in a sluggish start to the week, which is set to be a quiet one for macroeconomic events and data.
Australian shares have more than wiped this week's gains ahead of a key US interest rate decision, with most local sectors trading lower.
September continues to be a challenging month for Australia's share market which is heading towards a third straight week of losses.
Banks and the health care sector have helped Australian shares claw back some of the week's losses as investors look for catalysts to energise markets.
BHP has delivered record production across several metal groups, but sluggish commodity prices and one state's royalty regime have chiselled away at earnings.
Australia's top 500 publicly traded companies are now worth more than $2.9 trillion, as major benchmark indexes closed at their highest ever levels.
Investors have shrugged off the previous week's gloom to send Australian equities to their best-ever close as rate-sensitive stocks led the bourse higher.
Continued strength in the mining sector and hopes of incoming interest rate relief have helped lift the Australian stock market to fresh highs.
Glencore says it will keep its primary listing in London, shelving a possible move to New York.