1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
The Australian sharemarket stalled this afternoon as Middle East tensions remain in a deadlock. An early morning surge on the back of Wall Street gains cooled, with the S&P/ASX200 finishing up a slight 0.09% at 8,978.70 points.
Oil held steady at around US$95 a barrel after falling 4.6% overnight on reports the US blockade of Iranian ports had a strong first day.
Although against broader energy concerns, Virgin Australia expects second-half fuel costs to rise by $30–40 million and has followed Qantas in lifting airfares to offset the pressure. The airline gained 5.9% on the local market, while Australia’s flag carrier gained 1.3%.
Elsewhere in the sector, Auckland Airport reported an 8% jump in international passenger traffic on short haul demand, offsetting the 81% drop in Middle East traffic. The share price shed a slight 0.2%.
Meanwhile, tech led the market for a second straight session, with the sector rising 2.2%. TechnologyOne added 2.8% over the day to bring its monthly gain to almost 12%.
Among the laggards, Telix Pharmaceuticals shares fell after it announced a US$600 million convertible bond issue on concerns it could dilute existing shares in the future.
Tonight, the Empire State Manufacturing Index is set to be released from the US as markets monitor the blockade of Iranian ports.
