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ASX 200 Drops 1.13% to 8,574 as Oil Volatility and Inflation Fears Pressure Australian Shares

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FTSE 100 Surges 0.8% Today as Oil Eases and Markets

SYDNEY, Australia — The S&P/ASX 200 index fell 97.80 points, or 1.13%, to close at 8,574.00 on Thursday, April 2, 2026, extending recent weakness as persistent geopolitical tensions in the Middle East, elevated oil prices and concerns over sticky inflation continued to weigh on investor sentiment.

FTSE 100 Surges 0.8% Today as Oil Eases and Markets
S&P/ASX 200 index fell 97.80 points

The benchmark Australian share index opened near 8,671.80 and traded in a wide range, hitting an intraday high of 8,723.30 before sliding to a low around 8,570.20 in afternoon trade. The decline came amid broad-based selling, with financials, technology and materials sectors leading losses despite some resilience in energy names.

This latest drop adds to a challenging start to April following a difficult March, when the ASX 200 lost approximately 7.5% — its worst monthly performance since June 2022. The index now sits roughly 8% below its all-time high near 9,202 set in late February 2026, reflecting the cumulative impact of global risk aversion.

Rising oil prices remained a dominant theme. Brent crude has stayed elevated due to ongoing conflict involving the United States, Israel and Iran, with concerns over potential supply disruptions through key routes like the Strait of Hormuz. Higher energy costs are feeding into inflation worries, complicating the outlook for the Reserve Bank of Australia and pressuring growth-sensitive sectors.

“Geopolitical risk and its direct translation into higher fuel costs are forcing investors to reassess domestic growth prospects,” said one Sydney-based fund manager. “When oil remains above $110–$118 per barrel, it adds meaningful upward pressure on headline inflation, limiting the scope for near-term rate relief.”

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Financial stocks, which carry heavy weighting in the index, faced notable selling. The major banks — Commonwealth Bank, Westpac, National Australia Bank and ANZ — traded lower as traders weighed the implications of potentially higher-for-longer interest rates. Elevated borrowing costs could dampen consumer spending and housing activity, key drivers for the Australian economy.

Materials and mining stocks showed mixed performance. While some energy-related names gained on higher crude prices, iron ore and base metal plays retreated amid softer Chinese demand signals and broader risk-off flows. Gold miners provided limited haven support but could not offset sector-wide weakness.

Technology stocks extended recent softness, with investors rotating away from high-valuation growth names amid global concerns over artificial intelligence adoption timelines and stretched valuations. Consumer discretionary shares also came under pressure as higher fuel and living costs squeezed household budgets.

The session occurred against a backdrop of mixed domestic economic signals. Recent labour data has been uneven, while inflation readings have remained above the RBA’s 2-3% target band. Markets are pricing in a high probability of cautious monetary policy, with some analysts even flagging the risk of further rate hikes if oil-driven inflation persists.

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The Australian dollar traded modestly softer against the U.S. dollar, reflecting reduced risk appetite, while bond yields showed little directional conviction as investors balanced inflation fears with safe-haven flows.

Market breadth was negative, with decliners comfortably outnumbering advancers across the broader ASX. Trading volume was solid, indicating active participation from institutional investors adjusting positions early in the new quarter.

Analysts noted that while Australia’s underlying economic fundamentals — supported by resource exports and a still-resilient labour market — provide some buffer, external factors continue to dominate near-term sentiment. The OECD has warned that Australia could face among the higher inflation rates in advanced economies if energy prices remain elevated.

Smaller companies in the ASX 300 largely mirrored the benchmark’s weakness, though some defensive and value-oriented names held up better. The All Ordinaries index also closed lower in line with the S&P/ASX 200.

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Looking ahead, investors will closely monitor upcoming domestic data releases, including any updates on inflation, retail sales and trade balances. The RBA’s next policy meeting remains a focal point, with decisions likely influenced by the trajectory of global oil prices and geopolitical developments.

International cues will continue to play a critical role. Overnight movements on Wall Street, shifts in commodity prices and any fresh news from the Middle East are expected to set the tone for Friday’s trading. Asian markets, particularly China’s performance, will also be watched for demand signals affecting Australian resource companies.

Despite the day’s decline, some strategists see selective opportunities in quality companies with strong balance sheets and exposure to essential commodities. Dividend yields in the Australian market remain relatively attractive compared with many global peers, providing some support for income-focused investors.

For retail investors, the current environment underscores the importance of diversification and maintaining a long-term perspective amid short-term volatility. Financial advisers recommend focusing on businesses with pricing power and resilience to higher input costs rather than chasing momentum plays.

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The S&P/ASX 200’s close at 8,574.00 leaves it testing recent support levels. Whether this represents another leg in the broader correction or a pause ahead of potential stabilisation will depend heavily on de-escalation signals from the Middle East, cooling energy prices and clearer domestic economic data.

Futures trading pointed to continued caution heading into Friday’s session. Market participants will balance ongoing external pressures against Australia’s role as a major supplier of critical resources and its relatively stable underlying growth drivers.

In summary, Thursday’s 1.13% decline in the S&P/ASX 200 highlights the persistent influence of global oil volatility and geopolitical uncertainty on Australian equities. While energy and select defensives offered pockets of relative strength, broader caution prevailed as investors navigated inflation risks and a more uncertain growth outlook.

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Delta Air Lines taps Amazon Leo for in-flight Wi-Fi as streaming wars heat up

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Delta Air Lines taps Amazon Leo for in-flight Wi-Fi as streaming wars heat up

The passenger cabin on a Delta Boeing 737-900ER is shown while landing in Salt Lake City, Utah.

Mike Blake | Reuters

Delta Air Lines has tapped Amazon Leo to provide fast internet service on hundreds of jets starting in 2028, the latest salvo in airlines’ in-flight Wi-Fi and streaming wars.

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Amazon Leo, which stands for low Earth orbit, is offering satellite Wi-Fi, which Delta says will initially be available on 500 of its aircraft. Delta will start with domestic-focused, narrow-body planes from Boeing and Airbus. The airline also uses Hughes and Viasat for in-flight Wi-Fi.

“People want faster speeds, they want more bandwidth, they want to share all their video and photos from their trip. Expectations are just rising every day,” Delta Chief Marketing and Product Officer Ranjan Goswami said in an interview.

Airlines have been turning to faster in-flight Wi-Fi and making the service free for loyalty program members as they seek to win over passengers and in some cases monetize a captive audience of millions with personalized ads and potential shopping.

Goswami said there will “clearly be commerce opportunities” as Delta refreshes its in-flight technology to update movie selections and other entertainment faster and to offer bigger libraries. He said Delta has about 165,000 seat-back screens in its fleet.

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Goswami said the initial batch of aircraft to offer the faster service will include Delta’s newly ordered Boeing 737 Max 10 planes as well as some older 737s and Airbus A321s, used mostly for domestic routes.

Chris Weber, Amazon Leo’s vice president, said the higher speeds come from its satellites, which are in orbit closer to Earth than some others.

“I think of the high-speed, reliable connectivity of the planes as foundation, and Delta will build some very unique experiences on top of that,” Weber said.

He said Amazon Leo is focused on building out its satellite constellations and has about 200 satellites in orbit and hundreds more manufactured for launching.

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The company is aiming to build a constellation of roughly 3,200 low Earth orbit satellites that will serve businesses, governments and consumers. Amazon launched an enterprise preview of Leo for select businesses last year as it works toward a broader commercial rollout.

American Airlines is weighing bringing back seat-back screens to its narrow-body fleet and would use either SpaceX’s Starlink or Amazon Leo with Amazon Prime content, CNBC reported last week. A decision could come as early as next month.

United Airlines and Hawaiian Airlines have recently started using SpaceX’s Starlink satellite Wi-Fi onboard.

— CNBC’s Annie Palmer contributed to this report.

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When Shops Open This Long Weekend

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Zayed International Airport Abu Dhabi International Airport

SYDNEY, Australia — Australians heading into the Easter long weekend from April 3 to 6, 2026, face a patchwork of retail trading restrictions that vary significantly by state and territory, with major supermarkets, shopping centres and bottle shops observing closures or reduced hours on Good Friday and Easter Sunday in most jurisdictions.

Easter 2026 Trading Hours Australia: When Shops Open This Long
Easter 2026 Trading Hours Australia: When Shops Open This Long Weekend

Good Friday on April 3 and Easter Monday on April 6 are national public holidays, while Easter Saturday and Sunday have different status across the country. Retail trading laws, designed to balance worker protections with consumer needs, create a complex landscape that often catches shoppers off guard, particularly for last-minute grocery or essential purchases.

Major supermarket chains including Coles, Woolworths and Aldi will close most stores nationwide on Good Friday, April 3. Exceptions are limited, with some airport or tourist-area outlets potentially operating in Queensland, South Australia and Western Australia. On Easter Sunday, April 5, restrictions tighten further in New South Wales and South Australia, where the majority of stores will remain closed, while Victoria, Queensland and Western Australia allow more outlets to trade, often with reduced hours.

Easter Saturday, April 4, offers the most normal trading across the country, with supermarkets generally open at standard or slightly adjusted hours. Easter Monday sees most chains reopen, though many operate on public holiday schedules with earlier closing times.

Shopping centres follow similar patterns. Westfield and other major malls will close on Good Friday in most locations. On Easter Saturday, most centres open from around 9am to 5pm, with variations in New South Wales and Victoria. Easter Sunday brings closures in New South Wales and South Australia, while centres in Victoria, Queensland and Western Australia open with limited hours, typically 10am to 5pm. Easter Monday trading resumes with many centres operating 10am to 5pm or later in select Sydney locations.

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Department stores such as Myer, David Jones, Target, Kmart and Big W generally align with mall hours, closing on Good Friday and offering restricted trading on Easter Sunday in restricted states. Hardware retailers like Bunnings often remain open on public holidays with standard hours in many areas, though some locations may adjust.

Bottle shops and liquor outlets face strict rules. Dan Murphy’s, BWS and Liquorland typically close on Good Friday nationwide, with limited or no trading on Easter Sunday in several states. Easter Saturday and Monday usually see normal or slightly reduced operations.

State-by-state differences add complexity. In New South Wales and the Australian Capital Territory, Good Friday and Easter Sunday are restricted trading days, meaning most non-exempt retail must close. Easter Saturday and Monday have fewer restrictions.

Victoria allows more flexibility on Easter Sunday for some supermarkets and centres, though many still operate reduced hours. Queensland has defined trading areas with specific allowable hours for non-exempt shops, particularly on Easter Sunday.

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South Australia maintains some of the strictest rules, with many metropolitan stores closed on Easter Sunday and limited options on other days. Western Australia, Tasmania and the Northern Territory generally offer more open trading, though individual stores may vary.

Pharmacies, including Chemist Warehouse and independent outlets, often remain open throughout the weekend as essential services, though hours may be reduced. Petrol stations and convenience stores like 7-Eleven typically operate as usual, providing vital access to essentials.

Restaurants, cafes and takeaway outlets generally stay open, though many adopt public holiday menus or hours. Tourist attractions, beaches and outdoor venues see high demand during the four-day break, with families taking advantage of the extended weekend.

Consumer groups advise planning ahead. Shoppers should check specific store locators on retailer websites or apps for exact hours, as individual outlets — particularly in regional areas or tourist precincts — may have exemptions. Airport and service station supermarkets often provide limited options when main stores close.

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The Easter period highlights ongoing debates about retail trading laws. Retail industry bodies argue for greater flexibility to meet consumer demand, while unions emphasise worker rights to family time and rest on significant holidays. Some states have deregulated trading in recent years, leading to more consistent access, but the patchwork remains.

For families preparing Easter meals, the advice is clear: stock up before Good Friday or plan for alternatives such as online delivery where available. Many supermarkets offer click-and-collect or delivery services with adjusted schedules during the long weekend.

Tourism operators expect strong domestic travel, with families heading to beaches, regional getaways or staying local for barbecues and gatherings. Public transport and road networks will operate on holiday timetables in many areas.

As Australians enjoy the break — with Good Friday and Easter Monday as national public holidays — retailers prepare for a surge in spending on non-restricted days. The long weekend provides a welcome respite after the busy summer period, though navigating trading restrictions requires some preparation.

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Easter 2026 falls slightly later than in some recent years, with Good Friday on April 3. This timing aligns with milder autumn weather in southern states, encouraging outdoor activities.

Retail experts note that while major chains dominate headlines, independent grocers, butchers and bakeries often provide valuable alternatives on restricted days, particularly in suburban and regional communities.

For the latest updates, consumers should consult official state government resources, retailer websites or apps. Trading hours can be subject to last-minute changes based on local conditions or individual store decisions.

The Easter long weekend remains one of Australia’s most significant consumer periods outside Christmas, blending religious observance with family celebrations and retail activity. Understanding the varied trading rules helps shoppers make the most of the break while respecting the holiday’s traditions.

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In summary, while Good Friday brings widespread closures and Easter Sunday limits options in several states, Easter Saturday and Monday offer more normal access. Planning ahead remains the best strategy for a stress-free long weekend across Australia.

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Imdex buys remaining Krux stake in $23m deal

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Imdex buys remaining Krux stake in $23m deal

Imdex has acquired the remaining 60 per cent stake in Canadian drilling data firm Krux Analytics in a $23 million deal, marking its third acquisition in as many months.

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Albanese's wide-ranging National Press Club address

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Albanese's wide-ranging National Press Club address

The Prime Minister has announced a $1 billion fund to help businesses navigate the fuel crisis facing the country.

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Atlantic Union Bankshares Poised For Continued Healthy Growth

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Atlantic Union Bankshares Poised For Continued Healthy Growth

Atlantic Union Bankshares Poised For Continued Healthy Growth

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Sigma Lithium secures $100M bank guarantee for expansion

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Sigma Lithium secures $100M bank guarantee for expansion

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Iran And Oil Spark An Explosive Month

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Iran And Oil Spark An Explosive Month

Iran And Oil Spark An Explosive Month

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Buy selectively, focus on resilient sectors despite volatility: Manish Sonthalia

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Buy selectively, focus on resilient sectors despite volatility: Manish Sonthalia
Indian markets are navigating a tricky environment as geopolitical tensions and global inflationary pressures create uncertainty for investors. Manish Sonthalia from Emkay Investment Managers shared his views on the current landscape and potential opportunities.

On the market environment, Sonthalia said, “The conflict will widen first, then shift into a longer phase of economic adjustment and selective repair rather than broad recovery. This is no longer just a geopolitical event—it’s impacting oil prices, LNG, and supply chains, creating an inflation shock. India, being dependent on oil, will feel the impact, and recovery could take time, likely until FY28.”

Regarding buying opportunities, he added, “For foreign investors, returns in dollar terms are less attractive due to rupee depreciation. But for domestic investors, valuations have corrected to near COVID-era levels. Some sectors and companies now look attractive from a three- to four-year perspective. Domestic savings is replacing foreign flows, so one should focus on resilient stocks and valuations.”

When asked about sector preferences, Sonthalia noted, “Sectors benefiting from inflation, commodities, consumption with pricing power, defence, renewables, and hospitals look promising. Financials require selectivity—private banks are solid long-term, while PSU banks offer favourable valuations. Overall, pick and choose carefully, focusing on sectors with resilience.”

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The market may be turbulent in the short term, but selective opportunities exist for disciplined investors with a longer-term horizon.


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Everything to Know About Netflix Return

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Cardi B

Netflix’s popular teen rom-com “XO, Kitty” returns for its third season on April 2, 2026, with all eight episodes dropping at once as fans finally see Kitty Song Covey navigate her senior year at the Korean Independent School of Seoul (KISS).

XO, Kitty Season 3 Release Date April 2 2026: Everything
XO, Kitty Season 3 Release Date April 2 2026: Everything to Know About Netflix Return

The series, a spin-off from Jenny Han’s “To All the Boys I’ve Loved Before” universe, has built a dedicated following since its 2023 debut thanks to its blend of heartfelt romance, cultural exploration and high-school drama set against the vibrant backdrop of Seoul. Season 3 picks up after the dramatic Season 2 finale, with Kitty and her friends facing the challenges and excitement of their final year together.

Anna Cathcart reprises her role as the optimistic and matchmaking Kitty Song Covey. The Canadian actress, who first appeared as Lara Jean’s younger sister in the “To All the Boys” film trilogy, has become a breakout star in her own right. Joining her is a returning ensemble cast including Sang Heon Lee as Min Ho, the charming K-pop trainee who has captured Kitty’s heart, along with other KISS students and faculty members who have become fan favorites.

In a highly anticipated crossover, Lana Condor — who portrayed Lara Jean Covey in the original films — guest stars in multiple episodes of Season 3. Netflix confirmed the family reunion in early March 2026, releasing promotional images and a trailer that teased emotional moments between the on-screen sisters. Fans have eagerly awaited this development since the spin-off launched.

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The third season was renewed quickly after Season 2 premiered in January 2025 and wrapped production in July 2025. Showrunner Valentina Garza, who took over creative duties, has promised deeper character growth, more complex relationships and continued exploration of themes like identity, first love and cultural belonging for an Asian-American teen living abroad.

Netflix’s Tudum site and promotional materials describe Season 3 as Kitty’s senior year at KISS, filled with new adventures, lingering romantic tension with Min Ho and the pressures of deciding what comes after graduation. Early trailers show Kitty balancing friendships, potential heartbreak and the excitement of new opportunities, while hinting at bigger personal revelations.

The April 2 release date aligns with Netflix’s strategy of dropping full seasons simultaneously, allowing binge-watching over the Easter long weekend in many countries. In the United States, episodes become available at 12:00 a.m. Pacific Time (3:00 a.m. Eastern), standard for most Netflix originals. International viewers will see the season roll out according to local time zones.

Reception to the first two seasons has been largely positive among younger audiences, with praise for the show’s diverse cast, stylish production and light-hearted yet meaningful storytelling. Critics have noted its appeal as comforting, escapist television that handles teen romance with sincerity while incorporating Korean culture and language elements.

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“XO, Kitty” stands out in Netflix’s teen programming slate for its international setting and focus on cross-cultural experiences. The series benefits from strong production values in Seoul, featuring authentic locations, K-pop influences and fashion that resonates with global Gen Z viewers.

With Season 3 marking what many assume could be the final chapter — though no official confirmation on future seasons has been made — fans are hoping for satisfying resolutions to ongoing storylines. Will Kitty and Min Ho finally commit? How will the group handle the end of high school? These questions have fueled online speculation and fan theories since Season 2’s cliffhanger.

Jenny Han, the author and executive producer, has remained closely involved. Her books and the film adaptations created a loyal fanbase that carried over to the series. Han has teased that Season 3 honors the emotional core of her stories while expanding the world for television.

Beyond the core cast, Season 3 introduces new characters and deepens existing relationships. Promotional images released in February and March 2026 show Kitty and friends in new settings around Seoul, suggesting fresh storylines involving university applications, family visits and romantic complications.

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The series’ soundtrack, featuring K-pop and contemporary tracks, has also been a highlight. Fans expect Season 3 to deliver another memorable playlist that complements the emotional beats.

As the April 2 premiere approaches, Netflix has ramped up marketing with trailers, first-look photos and cast interviews. Anna Cathcart and Sang Heon Lee have shared light-hearted advice for viewers on love and relationships in recent promotional appearances.

For those new to the series, Netflix encourages catching up on Seasons 1 and 2, both available to stream now. The show’s accessible storytelling makes it easy for latecomers to join in, though longtime fans will appreciate the callbacks and character development.

“XO, Kitty” has contributed to Netflix’s success with international and diverse teen content. Its global appeal has helped the streamer reach younger audiences in Asia and beyond, while resonating with viewers who appreciate feel-good stories with substance.

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As April 2 arrives, anticipation is high. Whether Season 3 serves as a fitting conclusion or sets up further adventures, fans are ready to return to KISS alongside Kitty for what promises to be an emotional and entertaining senior year.

With just days until release, social media is buzzing with countdown posts, theories and excitement. Many plan watch parties or solo binges over the long weekend.

Netflix has not announced exact runtime details beyond the eight-episode season, but each episode is expected to run approximately 30 minutes, making the full season a manageable binge.

The series continues to highlight important themes for its target audience, including self-discovery, friendship, family dynamics and navigating young adulthood in a globalized world.

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As “XO, Kitty” Season 3 premieres on April 2, 2026, it joins a strong slate of spring programming on Netflix. For fans of light romance, cultural stories and coming-of-age tales, the new season offers the perfect springtime escape.

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High petrol prices have been here before, but this time it is different

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High petrol prices have been here before, but this time it is different

ANALYSIS: There’s no doubt that petrol supplies are causing angst as the war in the Middle East has closed the Strait of Hormuz, but this scenario has played out previously; in high prices, at least.

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