Daily Market Update: 11 March 2026

Australian market rebound

The S&P/ASX 200 Index (ASX: XJO) rebounded on Tuesday, rising 93.60 points to 8692.60, recovering around $34 billion in market capitalisation after the previous session’s $90 billion sell-off. Sentiment improved as oil prices fell below $US100 per barrel and US President Donald Trump suggested the Iran conflict may be nearing an end. However, gains were tempered by weaker US futures, a partial rebound in oil prices, and forecasts from Bank of America that the Reserve Bank of Australia may raise interest rates next week, leaving the market below its intraday high of 8750.90.

Technology stocks led the recovery, with Life360 Inc. (ASX: 360) surging 10.3 per cent, TechnologyOne Limited (ASX: TNE) rising 4.3 per cent, and WiseTech Global Limited (ASX: WTC) gaining 0.8 per cent. Materials also strengthened as BHP Group Limited (ASX: BHP) climbed 2.3 per cent, while Mineral Resources Limited (ASX: MIN) added 5.8 per cent, Pilbara Minerals Limited (ASX: PLS) advanced 5.2 per cent and Sandfire Resources Limited (ASX: SFR) lifted 5.8 per cent. Healthcare stocks attracted investor demand with CSL Limited (ASX: CSL) rising 1.7 per cent after announcing a $2.1 billion expansion of its US plasma manufacturing operations, while Pro Medicus Limited (ASX: PME) jumped 6.2 per cent and Neuren Pharmaceuticals Limited (ASX: NEU) gained 9.2 per cent. Telix Pharmaceuticals Limited (ASX: TLX) surged 7.8 per cent after positive early-stage phase 3 trial results for TLX591.

Australian corporate movers

Energy stocks declined amid profit-taking as oil prices retreated from recent spikes. Woodside Energy Group Limited (ASX: WDS) fell 3.8 per cent, Santos Limited (ASX: STO) dropped 3.5 per cent and Karoon Energy Limited (ASX: KAR) lost 6.8 per cent. In corporate developments, Orica Limited (ASX: ORI) slipped 3.4 per cent after flagging modest first-half earnings growth and announcing a $100 million cost-reduction program. Fortescue Limited (ASX: FMG) gained 1.2 per cent after completing its acquisition of Alta Copper and securing full ownership of the Canariaco copper project in Peru. Meanwhile, Air New Zealand Limited (NZX: AIR) fell 3.8 per cent after suspending its full-year earnings guidance due to rising jet fuel costs linked to escalating Middle East tensions.

Global markets and economic signals

US markets traded unevenly as investors balanced optimism about easing Middle East tensions with ongoing geopolitical risks. The S&P 500 Index (INDEXSP: .INX) fell 0.2 per cent, while the Dow Jones Industrial Average (INDEXDJX: .DJI) and the Nasdaq Composite Index (INDEXNASDAQ: .IXIC) were largely flat as markets turned volatile after reports of possible Iranian mining activity in the Strait of Hormuz. Technology stocks offered some support with Micron Technology Inc. (NASDAQ: MU) rising 3.5 per cent and Intel Corporation (NASDAQ: INTC) gaining 2.6 per cent following strong sales data from Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), while Lockheed Martin Corporation (NYSE: LMT) fell 1.9 per cent. Economic data showed US existing home sales rising 1.7 per cent month-on-month to an annualised 4.09 million in February 2026, beating expectations, although inventory increased to 1.29 million homes.