Market Wrap / tensions high

The local market reactive negatively to the escalating conflict in the Middle-East. The S&P/ASX 200 closed 0.4% lower at 8474.90 points this Monday.

 As the US bombed Iran’s military nuclear facilities, oil spiked close to US$80 a barrel. 

However, the energy sector just managed to stay in the green. Woodside remained unchanged after a deal to sell additional LNG to Japan during the peak winter-demand period. 

 Along with the rest of the miners, gold players were in the red today. Meanwhile, risk-off sentiment has seen Bitcoin take a tumble, falling below US$100,000.

 In company news, Metcash added 2.7% as it reported a 10% increase in statutory profit after tax in FY25, reaching $283.3 million. JB Hi-Fi and Adairs went in the other direction. The former recognised a $13.7 million advertising penalty into its results, while the latter flagged downbeat earnings for this Financial year. Adairs dropped 20.5% over the session.

Tonight, European and US PMI will follow Australia’s. And tomorrow, Collins Foods is reporting its FY25 results, while Treasury Wine Estates holds a special investor day.