Market Wrap / Thursday trepidation

Reignited geopolitical tensions stung investor sentiment this Thursday as the US and Iran exchanged fresh strikes, shattering hopes of a near term de-escalation. The S&P/ASX200 retraced some of its earlier losses to end lower by 0.23% to 8,633.20 points.

With Iran vowing to turn the Strait of Hormuz into ‘hell’, Woodside Energy and Santos spearheaded an energy sector rally of 1.64%. Yet, it was the safe haven trade that investors craved most, with market heavyweight CSL posting further gains of 3.1%.

Among the losers, financials slid as the big 4 finished in the red, led by NAB down 1%.

In company news Super Retail Group climbed 1.6% after unveiling a new five year strategy that includes expanding its store network to more than 900 locations by 2031.

Southern Cross Media shared the spotlight, shedding 5.9% after announcing 250 to 300 job cuts in a cost saving move.

While over in the c-suite, real estate giant Lendlease has appointed AustralianSuper veteran Nick O'Neil as its next CEO and managing director, taking the reins from Tony Lombardo.

Tonight, the European Central Bank hands down its interest rate decision.