Daily Market Update: 09 April 2026

Australian market rally

Australian equities staged their strongest advance in a year after news of a two-week ceasefire between the United States and Iran eased fears over a prolonged Middle East conflict, helping drive a sharp rebound in risk appetite. The S&P/ASX 200 Index (ASX: XJO) climbed 223 points, or 2.6 per cent, to 8951.8, recovering about $80 billion in market capitalisation and leaving the benchmark 2.7 per cent below its March 2 record high. The recent six-week sell-off had erased roughly $300 billion in value at its worst, equivalent to about 9 per cent from the market’s peak. A reopening of the Strait of Hormuz and improved tanker access supported the relief rally, while Brent crude fell 14.1 per cent, the Australian dollar strengthened to about US70.80c.

Australian stock movers

On the local market, rate-sensitive sectors led the gains, with WiseTech Global Limited (ASX: WTC) surging 10.7 per cent and NEXTDC Limited (ASX: NXT) rising 4.8 per cent, while Goodman Group (ASX: GMG) advanced 7.1 per cent after announcing a venture with DataBank to develop a 32-megawatt data centre in Los Angeles. Gold producers also rallied, with Newmont Corporation (ASX: NEM) up 5 per cent, Ora Banda Mining Limited (ASX: OBM) climbing 14.7 per cent, and Bellevue Gold Limited (ASX: BGL) jumping 18.9 per cent after reporting record March-quarter cash flow, while BHP Group Limited (ASX: BHP) added 3 per cent. Airline stocks benefited from easing fuel supply concerns, with Qantas Airways Limited (ASX: QAN) up 9.4 per cent and Virgin Australia Holdings Limited (ASX: VGN) gaining 11.7 per cent. In contrast, energy names fell sharply as oil prices retreated, led by Woodside Energy Group Ltd (ASX: WDS) down 10.5 per cent, Karoon Energy Ltd (ASX: KAR) off 13.1 per cent, Viva Energy Group Limited (ASX: VEA) lower by 8.3 per cent, and Santos Limited (ASX: STO) down 4.1 per cent despite expecting Barossa production to resume around April 18. Elsewhere, DroneShield Ltd (ASX: DRO) fell 13.5 per cent after the resignation of chief executive Oleg Vornik and the planned retirement of chairman Peter James, while Pro Medicus Limited (ASX: PME) rose 8.3 per cent on a five-year $23 million contract with the University of Maryland Medical System, and Flight Centre Travel Group Limited (ASX: FLT) gained 7.3 per cent after agreeing to sell its 47 per cent stake in Pedal Group for $61.7 million.

Global market rebound

Global markets also moved higher as investors welcomed signs of de-escalation, although caution remained given reports of continued strikes in parts of the Middle East. In the United States, the Dow Jones Industrial Average (INDEXDJX: .DJI) rose more than 1,300 points, or 2.85 per cent, marking its best session since April 2025, while the S&P 500 Index (INDEXSP: .INX) gained 2.5 per cent and the Nasdaq Composite Index (INDEXNASDAQ: .IXIC) added 2.80 per cent. Technology and AI-linked names were among the strongest performers, including NVIDIA Corporation (NASDAQ: NVDA), Meta Platforms, Inc. (NASDAQ: META), Tesla, Inc. (NASDAQ: TSLA), Advanced Micro Devices, Inc. (NASDAQ: AMD), and Micron Technology, Inc. (NASDAQ: MU), which rose between 4 per cent and 10 per cent, while Delta Air Lines, Inc. (NYSE: DAL) climbed 6 per cent after its earnings update. Oil prices dropped sharply, bond yields remained subdued, and the weaker US dollar helped keep gold above $4,700 an ounce, although some of its earlier gains were pared as investors rotated back into equities.