Friday 12th June 2026
Daily Market Update: 12 June 2026
Banks drag ASX lower
The S&P/ASX 200 Index (INDEXASX: XJO) fell 20.1 points, or 0.2 per cent, to 8633.2 on Thursday, as US military strikes on Iran rattled investor confidence and triggered a sell-off in the major banks. Commonwealth Bank of Australia Limited (ASX: CBA) dropped 2.4 per cent to $156.42 and Westpac Banking Corporation (ASX: WBC) lost 2.6 per cent to $34.50, while CSL Limited (ASX: CSL) climbed 4.2 per cent to $107.23 and Karoon Energy Ltd (ASX: KAR) surged 4.6 per cent to $2.05 as investors rotated into defensives and energy. The Australian dollar rebounded from a two-month low to US70.20¢, while gold recovered from a near seven-month low to $US4070 an ounce.
Defensives and energy outperform as technology and gold stocks retreat
Technology was the worst-performing sector, with NEXTDC Limited (ASX: NXT) dropping 4.2 per cent to $14.50 and Xero Limited (ASX: XRO) falling 3.6 per cent to $74.07, while Megaport Limited (ASX: MP1) rose 3.6 per cent to $18.70 after opening its $309 million retail raising. Defensives outperformed, with CSL Limited (ASX: CSL) climbing 4.2 per cent to $107.23, Coles Group Limited (ASX: COL) firming 1.6 per cent to $24.10, and Woolworths Group Limited (ASX: WOW) gaining 1.2 per cent to $38.09. Energy was the strongest sector, with Woodside Energy Group Ltd (ASX: WDS) up 1.6 per cent to $31.52 and Karoon Energy Ltd (ASX: KAR) surging 4.6 per cent to $2.05. In materials, BHP Group Limited (ASX: BHP) firmed 1 per cent to $60.80, while gold stocks retreated and Alcoa Corporation (NYSE: AA) dived 8.3 per cent to $93.90 on warnings of alumina losses from the Hormuz closure.
Wall Street surges as Trump reverses Iran strike threats
The S&P 500 Index (INDEXSP: .INX) gained 1.8 per cent, the Nasdaq Composite Index (INDEXNASDAQ: IXIC) rose 2.5 per cent, and the Dow Jones Industrial Average (INDEXDJX: .DJI) surged 930 points after President Trump reversed course on threatened Iran strikes and signalled a regional deal was close. Semiconductors led gains, with Lam Research Corporation (NASDAQ: LRCX) adding 12.7 per cent and Intel Corporation (NASDAQ: INTC) jumping more than 10 per cent on a Bank of America upgrade, while Oracle Corporation (NYSE: ORCL) fell nearly 9 per cent on a cloud revenue miss. Producer price index data pointed to accelerating prices in May, reinforcing expectations the US Federal Reserve will raise rates this year.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | -0.2 | -0.6 | -0.7 | -0.8 | 4.1 |
| Financials | -1.1 | 0.0 | -3.8 | -4.9 | 0.2 |
| Resources | 0.5 | -5.4 | -2.5 | 2.3 | 49.0 |
| Information Technology | -0.4 | -2.7 | 2.5 | 3.1 | -26.0 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 1.8 | -2.6 | 1.4 | 9.5 | 12.9 |
| Europe | -0.5 | 0.1 | 2.8 | 6.0 | 5.9 |
| Japan | -0.5 | -1.8 | 1.7 | 6.8 | 17.9 |
| China top 50 | -0.9 | 0.1 | -3.2 | -2.6 | -10.0 |
| India top 50 | -1.1 | 1.3 | 1.3 | -3.8 | -20.7 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.0 | 0.3 | 1.0 | 1.0 | 0.3 |
| Australian Corporate Bond | 0.1 | 0.2 | 1.0 | 1.1 | 1.0 |
| US Treasury | 0.1 | -0.2 | -0.3 | -1.1 | 3.5 |
| Cash | 0.0 | 0.1 | 0.4 | 1.1 | 3.9 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -2.6 | -5.7 | -8.9 | -18.1 | 13.9 |
| Silver | -1.6 | -10.8 | -17.2 | -24.0 | 64.8 |
| Crude Oil | 2.9 | -3.0 | -4.2 | 18.3 | 68.8 |
| Bitcoin | 1.9 | 0.3 | -19.3 | -8.5 | -45.7 |
