1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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A Thursday U-turn for the local market, as Trump addressed the ongoing war in Iran. The S&P/ASX 200 closed 1.06% lower to 8,579.50 points, despite a positive start.
The US President had previously flagged an end to US bombings in two to three weeks, but today's speech presented a hawkish approach for the meantime.
The oil stocks reversed course, and oil-linked Karoon topped the charts with a 6.5% gain today.
It was also a sharp intraday reverse for gold stocks, with the US dollar firming on the war update. The sector was in the red, although Northern Star ended the session flat considering an upcoming $500 million share buyback.
The big miners were also hit, with BHP receding 2.5% while Rio Tinto was down 3.3%.
Meanwhile banks and consumer staples held the fort. The CommBank advanced 0.5% while Coles gained 2.6% over the session.
On the corporate front, ASIC slammed the ASX, saying it had compromised critical market infrastructure to deliver high shareholder returns.
Oil prices are likely to stay front and centre over the Easter long weekend, with the OPEC+ monitoring panel also meeting this Sunday.
