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 defied negative expectations this Monday, finishing broadly flat, up just 6.40 points to 8,953.30, after an early dip as Iran again closed the Strait of Hormuz.
Energy stocks were lower despite higher oil prices. Viva Energy dropped 7.7% after resuming trade, flagging reduced capacity at its Victoria refinery following last week's fire.
Companies continued to point to the impact of the Middle East conflict. NAB followed Westpac in lifting provisions to guard against borrower stress, with the stock down 3.5%. Meanwhile heavyweight CBA helped support the index with a 1.4% gain.
Worley warned the conflict could trim full-year earnings by $30–40 million due to project delays and slower new work. Qube Holdings also flagged a $10–20 million hit to FY26 EBITA from higher fuel costs and weaker volumes.
The materials sector was weighed down by BHP and Rio Tinto in the red, though gold miners moved higher, with Newmont up 2.3%.
Tomorrow, quarterly updates are due from Rio Tinto, Yancoal and Stockland.
