Company Interview / Post-conflict stocks you need to consider

Key points:

Short‑term hit to Flight Centre (ASX:FLT) seen as non‑structural, with buyback support Sims (ASX:SGM) viewed as a beneficiary of data‑centre‑led steel demand and North American strength Preference for real estate, consumer discretionary, copper and gold over banks and crowded tech names

James Gerrish from Market Matters outlines a cautiously optimistic view of equity markets following the US–Iran deal and the expected reopening of the Strait of Hormuz. Gerrish suggests easing oil-price pressures may temper inflation and interest-rate expectations, which could support risk assets. He points to central bank settings, noting the RBA’s hold at 4.35% and a still‑hawkish market pricing that he regards as overdone.

On company news, Gerrish characterises Flight Centre’s (ASX:FLT) downgrade as a near‑term, Middle East‑related setback, not a structural demand issue, highlighting a $200 million buyback as support for the share price. He flags Sims (ASX:SGM) as benefiting from strong North American momentum and data‑centre‑driven steel demand, viewing its upgraded earnings guidance as underpinning recent share price strength.

Gerrish favours rate‑sensitive sectors such as real estate and selected consumer discretionary names, anticipating a rotation from expensive technology and semiconductors into more economically exposed areas. He remains neutral on the major banks, underweight the sector but holding ANZ (ASX:ANZ) and Westpac (ASX:WBC), seeing AI efficiency gains offset by softer loan growth. In commodities, he maintains a positive stance on copper and gold, expecting further upside in gold supported by a weaker US dollar and central‑bank buying, with positions in Bellevue Gold (ASX:BGL), Evolution Mining (ASX:EVN) and Barrick Gold.