Market Close 23 Apr 26: Oil up, stocks down
About this episode
The episode discusses the decline in the local market and the rise in oil prices amid stalled US-Iran negotiations.
The local market slipped for a third straight day, falling 0.6% as hopes for a US-Iran peace deal faded. With negotiations stalled and the Strait of Hormuz closed once again, oil prices have reclaimed the 100 USD mark for the first time in weeks. The index has now retreated 2.5% from its recent mid-April highs, erasing a significant chunk of the month’s recovery gains. Energy stocks were the sole bright spot, jumping 3% on the back of soaring crude. Santos lifted 3.5% after maintaining its annual guidance, while Karoon Energy led the pack with an 8% surge. Cochlear plunged another 4% to hit a decade-low, extending its catastrophic 63% year-to-date decline. Retailer Temple & Webster also cratered 8% to a two-year low following a surprise leadership shake-up. Steve Daghlian and Laura Besarati are Market Analysts at CommSec. Each episode, they break down the day's market movements and explain what the numbers really mean. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the…
More episodes of CommSec Market Update
- Morning Report 24 Apr 26: Iran jitters, oil jumps and stocks drop
- Morning Report 23 Apr 26: US stocks surge on buoyant earnings
- Market Close 22 Apr 26: ASX slumps in worst day in five weeks
- Morning Report 22 Apr 26: Breaking news on the US-Iran war
- Market Close 21 Apr 26: US-Iran talks - on or off?
- Morning Report 21 Apr 26: Shares dip as ceasefire deadline looms
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