Market Wrap / Tuesday turnaround

Markets rebounded sharply this Tuesday after US President Donald Trump hinted the conflict with Iran was “very complete, pretty much”.

The comments fuelled a relief rally at home with the S&P/ASX200 surging 1.1% to 8,692.60 points, partially recovering yesterday's $90 billion loss. 

Oil prices reversed sharply, finishing the session at US$88.6 a barrel, weighing on energy at home. Industry heavyweights Woodside Energy and Santos fell 3.8% and 3.5% respectively.

In contrast, the healthcare sector led gains, rising 1.6% after CSL announced plans to expand its US manufacturing footprint with a $1.5 billion investment.

Among the other gainers, Life360 rose 10.3%, supported by renewed buying in tech stocks after last week’s 18% drop following its FY25 earnings. Investors also looked for value in the sector, with TechnologyOne climbing 4.3% and Codan gaining 2.6%.

Financials moved higher in line with the broader market as the banks rallied. The financial sector rose 1.1%.

And Fortescue has completed its acquisition of Alta Copper, taking full ownership of a copper project in Northern Peru. Shares rose 1.2% following the news. 

Tonight, US February CPI data is set to be published while investors monitor the unfolding Middle East war.