Tuesday 3rd March 2026
Daily Market Update: 04 March 2026
Australian market retreat
The S&P/ASX 200 Index (ASX: XJO) fell 1.3 per cent, or 123.60 points, to 9077.30, retreating from its record close as escalating tensions in the Middle East dampened investor sentiment and sparked profit-taking following a strong February reporting season. Ten of the 11 sectors closed lower as rising oil prices reignited inflation concerns and tempered expectations for near-term interest rate cuts in the United States. Market participants adopted a cautious stance, locking in recent gains amid heightened geopolitical uncertainty.
Energy strength and stock movers
Energy stocks outperformed as oil and coal prices advanced, supporting gains for New Hope Corporation Limited (ASX: NHC), Yancoal Australia Limited (ASX: YAL) and Whitehaven Coal Limited (ASX: WHC). Among oil producers, Woodside Energy Group Limited (ASX: WDS), Santos Limited (ASX: STO) and Ampol Limited (ASX: ALD) posted modest gains. In contrast, gold miners reversed earlier advances, with declines for Newmont Corporation (ASX: NEM), Northern Star Resources Limited (ASX: NST) and Evolution Mining Limited (ASX: EVN), while BHP Group Limited (ASX: BHP) also eased. Airline and property stocks were weaker, including Qantas Airways Limited (ASX: QAN), Goodman Group (ASX: GMG), GPT Group (ASX: GPT) and Stockland (ASX: SGP), as hawkish commentary from the Reserve Bank of Australia weighed on rate-sensitive sectors. In corporate developments, Magellan Financial Group Limited (ASX: MFG) surged 21.9 per cent following a $130 million institutional placement to support its merger with Barrenjoey, while Life360 Inc. (ASX: 360), Neuren Pharmaceuticals Limited (ASX: NEU) and Capstone Copper Corp. (ASX: CSC) declined sharply on company-specific updates.
Global market backdrop
Globally, oil prices climbed 2.6 per cent to $US79.76 a barrel in Asian trade amid concerns Iran could disrupt supply through the Strait of Hormuz, while Newcastle coal futures jumped 8.6 per cent to $US128.70 per tonne after Qatar suspended operations at its largest liquefied natural gas facility. The energy price surge fuelled renewed inflation fears and reinforced expectations that central banks, particularly in the United States, may delay interest rate cuts if price pressures persist.
| Australian Indices | Daily % | Weekly % | 3 Month % | 1 Year % |
| ASX 200 | -1.3 | 0.8 | 6.3 | 14.3 |
| Financials | -0.2 | -1.8 | 10.1 | 16.8 |
| Resources | -0.1 | 4.7 | 23.9 | 59.4 |
| Information Technology | -2.8 | 4.8 | -23.8 | -27.6 |
| Global Indices | Daily % | Weekly % | 3 Month % | 1 Year % |
| US 500 | -0.9 | -0.2 | -6.0 | 15.7 |
| Europe | -2.5 | -1.8 | 1.3 | 10.3 |
| Japan | -3.0 | 0.9 | 7.0 | 22.0 |
| China top 50 | 0.4 | -3.7 | -11.1 | -5.2 |
| India top 50 | -1.1 | -2.4 | -11.0 | -7.4 |
| Fixed Interest | Daily % | Weekly % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.7 | -0.3 | 0.2 | 1.6 |
| Australian Corporate Bond | -0.6 | -0.3 | 0.4 | 2.3 |
| US Treasury | -0.3 | -0.1 | 1.2 | 3.9 |
| Cash | 0.0 | 0.1 | 0.9 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 3 Month % | 1 Year % |
| Gold | 0.0 | 3.7 | 17.9 | 60.2 |
| Silver | -4.2 | 7.3 | 51.4 | 159.5 |
| Crude Oil | 2.6 | 8.6 | 22.6 | 17.1 |
| Bitcoin | 2.2 | 6.7 | -30.9 | -27.9 |
