IGO Ltd (IGO)

05/04/2024

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Afternoon report 13/07/2026

The Match Out: ASX prints small gain despite a spike in Oil

The ASX eked out small gains to kick off the week despite oil spiking higher on fresh US-Iran strikes and conflicting statements from each side on whether the Strait of Hormuz remains open to shipping. Six of 11 sectors finished in the red, with most support at the index level coming from the banks, while Telstra (TLS) +1.6% bounced back after last weeks outage.

Morning report 13/07/2026

Macro Monday: Global Equities remain resilient despite renewed conflict

Last week we saw renewed fighting in the Middle East, with Iran declaring the Strait of Hormuz closed "until further notice" on Saturday, stating no vessels would be permitted to pass until foreign interference ends. Last week, Crude oil spiked around 8% following the escalation in tensions, although it did surrender some of the gains as the week wore on. However, despite the geopolitical uncertainty, global equities shrugged off the fighting, with the Dow making new all-time highs and the MSCI World Index closing less than 0.5% below its same milestone.