SYDNEY, March 3, 2026, 04:31 AEDT — Premarket
Australian stocks notched another record close on Monday, the S&P/ASX 200 edging up 0.03% to 9,200.9. Energy names dominated after the oil spike—Woodside Energy soared 6.8%, Santos tacked on 6.7%, and Karoon Energy shot up 15.2%. Market Index
The steady finish masks the churn underneath. Investors are treating Australia’s stock market as a patchwork of hedges and casualties—quick shifts can hit at any moment.
ASX 200 futures slipped 5 points, or 0.05%, just before the cash session kicked off. The move signals a restrained mood, not a decisive break in either direction. Investing.com
Financial stocks slumped 1.8% on Monday, marking their roughest day since Nov. 18, Reuters said. Miners, on the other hand, advanced 2%, with gold miners surging 4.7% to new highs. “Banks and cyclicals were under pressure, but energy and gold names showed resilience,” noted Marc Jocum, senior product and investment strategist at Global X ETFs, as traders kept an eye on possible ongoing disruption in the Strait of Hormuz. Cliff Man, CEO of ETF Shares, said “persistent geopolitical uncertainty can erode business confidence.” Qantas dropped more than 5%, with dealers grappling with higher fuel prices and questions about travel demand. Indo Premier
Magellan Financial is moving to snap up the remaining stake in Barrenjoey Capital Partners it doesn’t yet control, putting an implied price tag of A$1.62 billion on the deal. The company is targeting up to A$130 million from a placement at A$8.45 per share, plus another A$20 million through a share purchase plan. Chairman Andrew Formica described the acquisition as “a transformative step”. Reuters
Oil’s been driving moves across asset classes. Brent crude spiked to $82.37 a barrel before settling up $4.92, or 6.75%, at $77.79, after strikes involving Iran and retaliatory actions led to shutdowns and shipping snarls, according to Reuters. “Heightened volatility” and possible rerouting of oil and gas cargoes are the immediate concerns, said Kenny Zhu, research analyst at Global X. Reuters
Late Monday, gold gave back some gains but held steady, after an earlier surge of over 2%. Spot prices hovered near $5,284 an ounce, while U.S. gold futures rose roughly 1%. “The market is attempting to figure out whether these attacks are going to be followed up,” said David Meger, director of metals trading at High Ridge Futures. Reuters
That tailwind isn’t locked in. Should the Middle East shock ease off, oil and bullion could give back ground, erasing much of the lift beneath energy and gold stocks. Weakness elsewhere in the market usually resurfaces fast when that happens.
Plenty on the docket for Australia this week. RBA Governor Michele Bullock takes the stage in Sydney at 8:10 a.m. AEDT on Tuesday, lining up before the central bank’s policy meeting set for March 16–17, with the rate decision and statement coming out at 2:30 p.m. March 17. Reserve Bank of Australia
Traders won’t have to wait long for the next batch of domestic data: the ABS will drop building approvals, balance of payments, and other December-quarter figures at 11:30 a.m. AEDT on Tuesday. Australia’s national accounts, with GDP for the December quarter, hit the wires at the same time Wednesday. abs.gov.au
