1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The S&P/ASX 200 fell 0.57% to 8,793.40 points, as rising oil prices and ongoing uncertainty around the Iran conflict weighed on investor sentiment.
Healthcare extended its decline, with Cochlear down a further 6.8%. Again the index’s worst performer, after cutting earnings guidance on Wednesday, and prompting broker downgrades.
Materials were also under pressure. Sandfire Resources dropped following weaker quarterly production.
Energy stocks were among the few bright spots, with Santos up 3.8% after reporting a 3% lift in quarterly production to 22.5 million barrels of oil equivalent.
In other corporate news, Temple & Webster fell 8.9% after announcing CEO Mark Coulter will transition to Executive Chair from 1 July 2026.
On the data front; business activity in Australia stabilised in early Q2 after a decline in March. However, the latest S&P Global Flash PMI showed the recovery was driven by services, while manufacturing output contracted for a third consecutive month.
Tomorrow, a production report is due from PLS, alongside quarterly updates from Newmont, IGO and Insignia Financial.
