Daily Market Update: 02 April 2026

Australian market rebound

The S&P/ASX 200 Index (ASX: XJO) rose 2.2 per cent, or 190 points, to 8,671.80 on Wednesday in its strongest session since April 2025, as investors responded to signs the Iran conflict may be moving closer to resolution. Ten of the 11 sectors finished higher, adding roughly $68 billion to the benchmark’s market capitalisation after the market’s 7.8 per cent decline in March, which was its sharpest monthly fall since June 2022. Improved sentiment followed a broader global equity recovery after remarks from United States President Donald Trump and comments from Iranian President Masoud Pezeshkian suggested both sides may be open to de-escalation, although oil still increased 0.6 per cent to US$104.63 a barrel as traders weighed ongoing risks to regional energy supply.

Australian stock movers

Mining stocks led the local rebound as gold briefly traded above US$4,700, with Newmont Corporation (ASX: NEM) rising 4.5 per cent, Pantoro Limited (ASX: PNR) gaining 10.2 per cent and BHP Group Limited (ASX: BHP) advancing 4.3 per cent. Uranium names also strengthened, with Paladin Energy Ltd (ASX: PDN) up 6.9 per cent and Deep Yellow Limited (ASX: DYL) climbing 9.2 per cent, while oil producers Woodside Energy Group Ltd (ASX: WDS) and Santos Limited (ASX: STO) posted modest gains of 0.1 per cent each. In corporate news, PEXA Group Limited (ASX: PXA) fell 14.7 per cent after linking its decline to a regulatory consultation paper and a broker downgrade, while Perenti Limited (ASX: PRN) rose 4.1 per cent after naming Vanessa Torres as chief executive, Eagers Automotive Limited (ASX: APE) jumped 9.5 per cent on Melbourne dealership acquisitions, and The Star Entertainment Group Limited (ASX: SGR) gained 8.7 per cent after completing the sale of its stake in Brisbane’s Queen’s Wharf precinct.

Global market gains

In the United States, the S&P 500 Index (INDEXSP: .INX) rose 0.9 per cent, the Nasdaq Composite Index (INDEXNASDAQ: .IXIC) added 1.3 per cent and the Dow Jones Industrial Average (INDEXDJX: .DJI) gained 0.6 per cent as easing geopolitical fears supported a second straight day of gains. Technology stocks outperformed, led by Alphabet Inc. (NASDAQ: GOOGL) up 2.8 per cent, Micron Technology, Inc. (NASDAQ: MU) up 8.9 per cent, Meta Platforms, Inc. (NASDAQ: META) up 1.4 per cent and Amazon.com, Inc. (NASDAQ: AMZN) up 1.1 per cent, while NIKE, Inc. (NYSE: NKE) dropped 15.6 per cent after issuing muted guidance. Treasury yields were little changed after ADP data showed the United States private sector added 62,000 jobs in March, with investors now watching for further White House updates on the Iran conflict.