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Trading floor: ARN Media, OD6 Metals up; EDV sinks
Azzet reports on three stocks with price moving updates today. ARN Media lifts after axing Kyle and Jackie O ~Despite the Australian share market tumbling around 1.7% an hour after the market opened today – with all sectors deep into the red - ARN Media (ASX: A1N) managed to defy gravity with the media and entertainment company trading 1.5% higher by 2:10 pm AEDT (3:10 am GMT). Despite the entire market being dragged down by falls in global markets overnight – due to fears of a Middle East war escalating – ARN opened 4.4% higher with the market giving revelations that the Kyle and Jackie O Show was pulled off the air a huge thumbs up. The immediate cancellation of the Kyle and Jackie O Show followed a breakdown between co-hosts Jackie “O” Henderson and Kyle Sandilands. ARN told the market this morning that Henderson had informed the company she could no longer work with Sandilands. The broadcaster said it had terminated its services agreement with Henderson Media, the vehicle through which she was contracted, and had offered her a new show on the network. The move comes a year into a lucrative deal between the pair and KIIS FM - one of the country’s highest-rating breakfast programs – which would have earned them
ASX
ASX seen opening 1.4% down amid worsening war worries
Equities prices on the Australian Securities Exchange (ASX) are expected to sink on Wednesday in the wake of a lower finish on Wall Street as the escalating Middle East conflict sends shockwaves through global economies and markets. The ASX 200 index should open 1.4% below the previous close when trading resumes at 10:00 am AEDT (11:00 pm GMT Tuesday), based on futures market trading which priced the March share price contract 124 points below the previous settlement at 8,910 points. Although attention is on the war pitting the United States and its allies against Iran, the market will assess Australian economic growth data to be released at 11:30 am AEDT. Commonwealth Bank of Australia economists have lifted their gross domestic product (GDP) data forecast for the fourth quarter of 2025 from 0.7% to 1.0%, giving an annual rate of 2.7%. Commsec Equity Market Strategist James Gruber said the GDP numbers may affect the ASX if they influence the Reserve Bank of Australia’s position on monetary policy. “That may push the case for interest rate rises sooner rather than later, but I think it will be overwhelmed overnight by other events overnight like oil prices rising as well as the U.S. market slump,” he said. Stocks
ASX
ASX 200 slides 1.3% from record close
The Australian sharemarket retreated sharply on Tuesday, pulling back from record highs as escalating conflict in the Middle East drove oil prices higher and reignited concerns over global inflation pressures. The S&P/ASX 200 fell 123.6 points, or 1.3%, to 9,077.3, with 10 of the 11 sectors finishing lower. The index had closed at a record high of 9,202.90 on Monday. Investor sentiment was weighed down by renewed fears of supply disruption after Iran threatened a full closure of the Strait of Hormuz, a critical artery for global oil shipments. Consumer discretionary stocks led the declines, with Wesfarmers falling 3.6%, Aristocrat Leisure down 2.5%, Eagers Automotive falling 5.6%, and JB Hi-Fi down 3.2%. Gold miners, which had rallied strongly on Monday amid a surge in bullion prices, reversed course. Newmont dropped 2%, Northern Star fell 3.2%, and Evolution Mining slid 4.5%. The major diversified miners delivered a negative performance, with BHP down 2.6%, Rio Tinto falling 2.4%, and Fortescue Metals off by 4.5%. The Energy sector was the only bright spot on the market amid elevated crude oil prices. Woodside added 0.8%, Santos gained 1%, and Ampol ended 3.2% higher. Coal producers also gained after pr
ASX
Trading floor: Magellan, SLS, LIN move higher
Azzet reports on three stocks with price moving updates today. Magellan Financial Group soars after confirming merger details ~Shares in Magellan Financial Group were trading (ASX: MFG) 18.7% higher by 2:10 pm AEDT (3:10 am GMT) after the Australia-based specialist asset manager announced a $1.6 billion merger with Barrenjoey Capital Partners in which it already holds a 36.4% stake. Following the resumption of trading after yesterday’s trading halt, Magellan’s management confirmed the long-suspected future merger with the homegrown investment advisory shop after acquiring an additional 10% stake from Barclays for $148.9 million. To acquire the additional 10% economic interest in Barrenjoey, Magellan made an institutional placement which saw it issue15.4 million shares at $8.45. It’s understood that Magellan will also offer a $20 million non-underwritten share purchase plan to eligible shareholders at the same price, with a maximum application of $30,000 per participant. Magellan will hold an Extraordinary General Meeting in April 2026 for shareholders to vote on necessary approvals. Assuming the deal is completed in the second quarter of 2026 as planned, Magellan shareholders will own 58.2% of the group, Placement
ASX
ASX to open down after Wall St closes mixed
Australian shares are expected to open lower on Tuesday after a reasonable night on Wall Street as the renewed Middle East conflict dominates attention. The ASX 200 index was set to begin 0.21% below the previous close at 10:00 am AEDT (11:00 pm GMT Monday), based on futures market trading, which priced the March contract 20 points under the previous settlement at 9,137 points. It was a mixed night in New York, where two of the three main benchmarks eked out tiny gains as investors monitored U.S. and Israeli military action against Iran, rising oil prices and rising inflation pressures. While the Dow Jones Industrial Average dipped 0.2%, the S&P 500 added 0.04%, and the Nasdaq Composite put on 0.4%. F/m Investments CEO Alex Morris said confidence in U.S. markets and high hopes for the benefits of artificial intelligence countered worries about surging oil prices and geopolitical turmoil. “The overall action in the Middle East does not have a tremendous impact on the average American stock the ⁠way we measure,” he was quoted as saying in a Reuters article. "I just don't think the average market participant is that moved by the conflict Global oil prices surged on Monday on news that the Strait of Hormuz, whic

ASX
ASX 200 ekes out fresh record as Energy, Materials rally
The Australian sharemarket barely extended Friday’s record close on Monday, as escalating conflict in the Middle East weighed on risk sentiment, but boosted oil and gold companies. The S&P/ASX 200 added 2.3 points to 9,200.9, despite seven of the 11 sectors trading lower. Technology stocks led the declines. WiseTech Global dropped 4.7%, TechnologyOne lost 4.3, while Xero and NextDC shed 3.8% apiece. Financials also dragged on the index, echoing a slump in U.S. banks and private equity firms on Friday after UK mortgage provider Market Financial Solutions collapsed. Commonwealth Bank declined 0.7%, ANZ fell 1.8%, Westpac dropped 1.7%, and National Australia Bank slid 2.9%. Over the weekend, United States-Israeli strikes killed Ali Khamenei, prompting Iran to retaliate with attacks across parts of the Gulf, including Iraq, Kuwait, Bahrain, Qatar, the United Arab Emirates and Oman. The escalation disrupted key aviation hubs and threatened oil shipments through the Strait of Hormuz. Oil prices surged in response, pushing the Energy sector higher. Woodside Energy rallied 6.8%, Santos rose 6.7%, and Karoon Energy soared 15.2%. Gold also rallied to multi-week highs. Gold miners benefited from the move higher, as Ne
ASX
Lower start looms on ASX; Iran impacts in focus
Australian shares are set to give up most of their previous day’s gains when trading reopens on Monday following a lower close on Wall Street, but the emergence of the Iranian crisis in the meantime is likely to drive the market through the day. A fall of 0.2% in the ASX 200 has been flagged in futures trading on the Australian Securities Exchange (ASX), where the March share price index contract was last quoted 20 points under the prior settlement at 9,150 points at the time of writing. Stocks in New York finished lower on Friday (Saturday AEDT) after higher-than-forecast inflation figures were published, with financial and technology stocks affected the worst. The Dow Jones Industrial Average lost 1.1%, the S&P 500 dropped 0.4%, and the Nasdaq Composite shed 0.9%. The prices of U.S. companies fell by their largest percentages in a year in February due to factors like worries over artificial intelligence (AI) costs and disruption, new tariff concerns and simmering geopolitical tensions. "To wrap up the month of February, we were reminded there are still some cracks out there," Carson Group Chief Market Strategist Ryan Detrick was quoted as saying in a Reuters article. The military escalation in the Middle East f
ASX
ASX extends record highs; Coles tumbles 7.4%
The Australian sharemarket finished higher on Friday, marking a third consecutive record close and sealing weekly gains of around 1.3%, despite a sharp post-earnings sell-off in Coles. The S&P/ASX 200 finished up 23.30 points, or 0.3%, at 9,198.6, with seven of the 11 sectors closing in positive territory. For the month, the index has rallied 3.7%. Utilities were among the strongest performers, with Origin Energy up 1.5%, APA Group adding 1.6%, and AGL Energy advancing 0.8%. Communication services also lifted the index. REA Group rallied 3.6%, while CAR Group added 4.7%. Materials stocks gained after U.S.-based MP Materials signed what was described as an “enormous” rare earths supply agreement with an unnamed automaker, boosting sentiment across the sector. Lynas Rare Earths surged 10.1%, and Iluka Resources jumped 9.1%. The session’s standout was Block, which soared 27.8% after the owner of Square and Afterpay announced plans to cut 4,000 of its 10,000 staff as part of a restructuring drive. Consumer staples was the weakest sector, dragged lower by Coles, which slumped 7.4% following disappointing first-half results. Among other notable movers, Bapcor plunged 49.3% after resuming trade following a capi
ASX
Trading floor: Virgin flat, FRS lifts, and Coles tanks
Azzet reports on three stocks with price moving updates today. Virgin trades flat on 1H FY26 update ~ Despite what appeared to be a reasonable 1H FY26 result, the market’s response to Virgin’s (ASX: VGN) first result as a [reincarnated] publicly listed company was somewhat muted, with cost warnings possibly playing on market sentiment today. While the stock opened at $3.20 and rose as high as $3.23, it was 0.32% lower in late morning trading at $3.14 with the market clearly struggling to make sense of today’s result. First, the headline result: Virgin reported an underlying net profit after tax (NPAT) of $278.7 million, a 20.7% increase that beat analyst estimates of approximately $261 million. Reflecting good operational strength, underlying earnings before interest and tax (EBIT) rose 11.7% to $490 million, while revenue rose 9.3% to $3.32 billion. The market was arguably impressed by $200 million in gross benefits - realised through the company’s transformation program - which helped expand EBIT margins to 14.8% despite rising industry costs. However, statutory profit actually fell 27.9% to $341 million due to the airline having fully utilised its past tax losses from administration and is back in a tax-paying p