1m agoFri 6 Mar 2026 at 4:10amMarket snapshotASX 200: -1.0% to 8,846 pointsAustralian dollar: +0.5% at 70.39 US centsS&P 500: -0.6% to 6,830 pointsNasdaq: -0.3% to 22,749 pointsFTSE: -1.5% to 10,413 pointsEuroStoxx: -1.3% to 605 pointsSpot gold: +1.0% to $US5,131/ounceBrent crude: -1.0% to $US84.55/barrelIron ore: +1.5% to $US100.25/tonneBitcoin: +0.3% to $US71,098
ASX 200: -1.0% to 8,846 pointsAustralian dollar: +0.5% at 70.39 US centsS&P 500: -0.6% to 6,830 pointsNasdaq: -0.3% to 22,749 pointsFTSE: -1.5% to 10,413 pointsEuroStoxx: -1.3% to 605 pointsSpot gold: +1.0% to $US5,131/ounceBrent crude: -1.0% to $US84.55/barrelIron ore: +1.5% to $US100.25/tonneBitcoin: +0.3% to $US71,098Price current around 3:00pm AEDT
Live updates on the major ASX indices:
19m agoFri 6 Mar 2026 at 3:52am
Australian share market under pump
The benchmark S&P/ASX 200 is sharply lower today, dropping 96 points or 1.08% to 8,843.80.
Front and centre among market concerns is the Strait of Hormuz and the potential for energy supply disruptions to produce stagflation — rising inflation and slower economic growth.
The S&P/ASX 200 has lost over $100 billion in value, or 3.86% so far this week.
37m agoFri 6 Mar 2026 at 3:34am
ASIC making compliance inquiries on home loans
ASIC says it is “making broader compliance inquiries” after CommBank self-reported that almost $1 billion in home loans may have been obtained fraudulently.
The regulator is giving evidence to a Parliamentary Joint Committee, with ASIC Chair Joseph Longo fronting senators.
During questioning Senator Paul Scarr referenced a well-known 2015 movie starring Steve Carrell that depicted the 2008 financial crisis.
“Have you seen The Big Short?” he asked.
The Senator leant on the movie about the 2008 housing market collapse to ask the ASIC chair about the extent of home loan fraud.
“Yes, I have seen the movie”, Longo replied, who went on to say that this type of fraud was new “in an Australian context”.
The home loans were allegedly obtained with fraudulent documents created with AI.
ANZ, NAB and Westpac have also reported similar concerns about hundreds of millions of dollars in home loans.
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51m agoFri 6 Mar 2026 at 3:20am
Iron ore prices climbing amid restrictions from China
Iron ore prices have climbed today as major buyer China implements growing restrictions on buying new seaborne cargoes from its major supplier, BHP.
The moved sparked supply concerns which clearly outweighed falling demand with the most-traded iron ore contract on China’s Dalian Commodity Exchange (DCE) rising 0.85% to 768 yuan, or $111.21 a metric ton.
The benchmark April iron ore on the Singapore Exchange advanced 1.03% to $101.05 a ton.
The latest restrictions have fueled fears about the availability of iron ore cargoes ahead.
BHP is the world’s third-largest supplier and seaborne cargoes account for a large share of its iron ore business.
At the same time there’s faltering demand amid lingering production restrictions at steel mills in North China, which is curbing price gains.
China has reiterated its pledge to tackle overcapacity in steel and other industries, according to an official report released during the annual parliamentary meeting.
– Reporting with Reuters
1h agoFri 6 Mar 2026 at 3:10am
Japan’s Nikkei drops on Middle East concerns
Japan’s Nikkei share average on Friday was on track for its steepest weekly percentage drop in almost a year.
It was prompted by concerns over the Middle East conflict, which caused investors to sell riskier assets.
As of 0219 GMT, the Nikkei 225 Index was flat after dropping as much as 1.4% earlier in the day, on track for its worst weekly percentage decline since April 4.
The benchmark index has lost nearly 6% so far this week.
Shota Sando, an equity market analyst at Tokai Tokyo Intelligence Laboratory gave his view.
“The [markets’] biggest concern is the rise in crude oil prices,” he said.
“If it becomes clear that oil prices aren’t likely to head toward the oft-cited $100 a barrel level, that would probably bring a sense of relief and help stabilise sentiment.”
Reuters reports the U.S. Treasury department is expected to announce measures aimed at combating rising energy prices, including potential action involving the oil futures market.
– Reporting with Reuters
2h agoFri 6 Mar 2026 at 2:06am
Middle East impact on energy, petrol prices and inflation
If you’ve been wondering whether the situation in the Middle East will help or hinder energy prices Taylor Nugent, a senior economist at NAB, has offered his take.
He says while Australia is a net energy exporter, the impact of higher oil prices isn’t likely to offset the benefit to gas and coal exports.
“Higher oil and oil-derivative import prices affect Australian inflation quickly and broadly,” he says.
“In contrast, the offsetting boost from energy exports is slower, and more narrowly distributed.”
Taylor Nugent says based on current oil prices headline CPI is likely to peak more than 0.5ppt higher than previously expected.
Pain at the bowser will persist too, with retail fuel prices rising more than 15% in March if current prices stay the same.
So what does that mean for inflation? Well, it’s not great.
“The starting point for inflation is not favorable. [The Reserve Bank] will be paying close attention to inflation expectations,” he says.
There will also be secondary pressures from shipping and logistics rises, energy costs and impacts on food supply chains.
“While the possibility of weaker activity should provide some offset, the balance of risk remains tilted to additional RBA tightening relative to our base case of a 4.1% peak. “
2h agoFri 6 Mar 2026 at 1:37am
Farmers working hard
The latest labour stats from the Australian Bureau of Statistics show farmers worked the most hours of any group on the back of the spring harvest in 2025.
Overall the number of hours worked grew in 16 out of 19 industries.
The largest growth in hours worked was a 5.4 per cent rise in the agriculture, forestry and fishing sector.
This rise was largely due to a strong harvest season and a bounce back from the 6.3 per cent fall in September quarter 2025.
The agriculture, forestry and fishing sector saw a 5.4% rise in hours worked in spring. (Supplied: Lara Smit)
Also doing well was rental, hiring and real estate services with filled jobs up 2.4% and hours worked up 0.8%.
The construction industry also saw the largest growth in the number of filled jobs, going up over the past year by 57,700.
“Construction is now the third largest employing industry in Australia, accounting for 8.2 per cent of total filled jobs in December quarter 2025,” Mr Crick said.
2h agoFri 6 Mar 2026 at 1:23am
15 million people employed in December
Nearly 100,000 extra people got jobs in the final quarter of 2025.
Figures released by the Australian Bureau of Statistics show the number of employed people rose 99,800.
“The number of employed people rose by 0.7 per cent in line with the 0.7 per cent rise in hours worked this quarter,” ABS head of labour statistics Sean Crick said.
Those with multiple jobs rose 0.4 per cent — some 976,400 people — but at the same time there were 9,800 fewer people with more than one job than the same quarter the year before.
“The number of job vacancies decreased over the quarter, while the proportion of vacant jobs remained stable at 2.0 per cent,” Mr Crick said.
2h agoFri 6 Mar 2026 at 1:15am
ASIC increasing monitoring of insider trading
Jasper Wells here at the Parliamentary Joint Committee’s session with ASIC in Sydney.
ASIC executive director Chris Savundra said the commission has increased monitoring of insider trading. The practice is “notoriously difficult to investigate and prosecute,” according to ASIC chair Joe Longo.
But the commission has said new technologies have made both insider trading and ASIC’s investigations “more sophisticated,” according to Mr Savundra. Since 2009, 47 people have been convicted for insider trading.
2h agoFri 6 Mar 2026 at 1:13am
Lunchtime market update
Hi everyone,
Alison Branley here taking over the business blog for this afternoon.
So far there have been a few gentle bumps on the ASX 200, down 1.32% at lunch to 8,822 points.
The Aussie dollar is flat at 70.20 US cents.
Spot gold is up slightly to $US5079/ounce.
Brent crude is up 3.6% at $US85.41/barrel.
And, Bitcoin is down a smidge (-0.3%) to $US70,925.
4h agoFri 6 Mar 2026 at 12:11amPetrol retailers on notice as ACCC monitors price movements
Consumer watchdog the ACCC says it will keep a close watch on international and domestic fuel price movements and market behaviour, warning any market manipulation will face consequences.
Oil prices have surged more than 15% or $US10 a barrel since the Middle East war began.
And the international price of refined petrol is a key driver of Australian retail petrol prices.
“While these international costs are largely outside the control of local petrol retailers, we remind retailers that making false or misleading statements to consumers about the reasons for price increases would be in breach of the Australian Consumer Law,” commissioner Anna Brakey said.
“The ACCC will not hesitate to take action if representations and market behaviour by a petrol company contravene competition and consumer laws.
Ms Brakey said the ACCC has written to major fuel companies to set out its expectations about domestic fuel pricing.
“At this time, as at any time, we encourage motorists to use fuel price apps and websites to shop around to find the lowest prices,” she added.
4h agoThu 5 Mar 2026 at 11:53pm
Market snapshotASX 200: -1.0% to 8,846 pointsAustralian dollar: +0.5% at 70.39 US centsS&P 500: -0.6% to 6,830 pointsNasdaq: -0.3% to 22,749 pointsFTSE: -1.5% to 10,413 pointsEuroStoxx: -1.3% to 605 pointsSpot gold: +1.0% to $US5,131/ounceBrent crude: -1.0% to $US84.55/barrelIron ore: +1.5% to $US100.25/tonneBitcoin: +0.3% to $US71,098
Price current around 3:00pm AEDT
Live updates on the major ASX indices:
4h agoThu 5 Mar 2026 at 11:49pmMiners lead losses while tech and industrial firms rise at open
The mining sector has extended losses at open, down 3.8%, with the likes of Catalyst Metals (-8.1pc), Capstone Copper (-7.4pc) and Deep Yellow (-7.3pc) trading sharply lower.
Tech and industrial sectors were bucking the trend, rising 1.3% and 0.7% respectively.
Siteminder (+8.6pc), Pro Medicus (+6.1pc) and Megaport (+5.6pc) were among the best performers in the first 30 minutes of trade.
SkyCity Entertainment fell 2.1% on a potential class action against the New Zealand casino operator in respect of gambling monies lost to SkyCity Online between February 2020 and February 2026. SkyCity said it denies any such liability and will actively defend the proceedings.
(LSEG)
4h agoThu 5 Mar 2026 at 11:29pm
ASIC puts it back on the states
Corporate regulator ASIC brought the case against former Star Entertainment executives after state-based inquiries confirmed what the media had exposed about criminal activity at the casinos.
Chair Joe Longo reminds the parliamentary inquiry that there are state-based regulators (Australia does not have a federal regulator of casinos).
“We are not a casino regulator … it’s a very specialised area. In a very clear way (the judge) spelled out the risks there.
“It’s not an area of expertise.”
ASIC brought largely successful charges against the executives and board members of Star.
What have state-based regulators done? Well, a little.
Victoria’s new regulator — the previous one practically died of shame — put up some big fines.
But I wouldn’t sit around waiting for state-based regulators to rein in the criminal excesses of casinos — all of the evidence at the royal commission and the inquiries has been that they’re not up to it.
If you need to have your brain exploded, read this.
5h agoThu 5 Mar 2026 at 11:07pmASX dives at open
The ASX 200 index was down 125 points or 1.4% to 8815 by 10:05am AEDT.
5h agoThu 5 Mar 2026 at 10:48pm
We are *not* talking about the Justice League
You might be listening to the live grilling of ASIC chair Joe Longo about the Star Entertainment case that it brought (and partly won).
The link is below.
If you are, you’ll be utterly bamboozled by frequent mentions of Justice League: the comic-book and movie good guys anchored by Superman, Batman, Wonder Woman, The Flash, Green Lantern and Aquaman.
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The speakers are just failing to enunciate.
They are discussing Justice Michael Lee.
You can listen along here.
5h agoThu 5 Mar 2026 at 10:39pm
There were more Star executives busted
As ASIC chair Joe Longo continues to be grilled by a parliamentary committee, the regulator has reminded the hearing that two further Star stars pleaded out during the process.
Star’s former chief casino officer, Gregory Hawkins, was ordered to pay a penalty of $180,000 and disqualified from managing corporations for 18 months, while former chief financial officer Harry Theodore was ordered to pay a $60,000 penalty and was disqualified from managing corporations for nine months.
What did they do?
The court found, based on facts agreed between the parties, that Hawkins, whose job was overseeing the operations of Star’s Sydney casino, breached his duties under s 180(1) of the Corporations Act 2001 in 2018 and 2019 by:
approving an agreement between Star and the gambling junket Suncity in 2018 which provided Suncity exclusive access to a private gaming room in the Sydney casino known as ‘Salon 95’ when he knew that the conduct of Suncity’s representatives exposed Star to the risk that it would breach the law or become unsuitable to hold a casino license, and for failing to report the information he knew about Suncity to the Board, failing to inform the Board in 2019 of further information he knew, including the conduct of players in Salon 95 and the information about Suncity and its associates published in the media, and the risks Star was exposed to arising from its business relationship with Suncity, and failing to recommend to the Board that Star review or terminate its relationship with Suncity and its associates.
So, running a casino-within-a-casino, not linking up copious media coverage of criminals linked to Suncity bosses, normal stuff like that.
Theodore was found to have breached s 180 (1) of the Corporations Act by failing to prevent Star from sending correspondence to National Australia Bank on November7 2019, which contained “inaccurate, incomplete and misleading representations about the use of China Union Pay cards for gambling purposes at NAB terminals located within Star’s casino”.
Again, lying to banks about criminals using their services to do money laundering – a crime. Wild.
5h agoThu 5 Mar 2026 at 10:25pm
ASIC chair Joe Longo in the hot seat
The Joint Committee on Corporations and Financial Services is questioning outgoing ASIC chair Joe Longo about the Star Entertainment Group case.
The regulator took the CEO and essentially the whole board to court for failing to meet their directors’ duties (essentially, did they do their job?).
As an opener of this hours-long questioning, he’s asked about it. Here are his first thoughts:
“It’s a 500-page document that I’m still digesting myself… I’ll be reflecting on this over the weekend.
“Clearly, ASIC is disappointed in aspects of the result… although there’s no ‘new law’ (the judge) went on to (discuss) AI, directors’ duties.”
Penalties will be determined next week.
“ASIC’s allegations or contentions against (chief legal office) Paula Martin were upheld, and most were upheld against (CEO) Mat Bekier”.
He says there “can be no doubt in my mind” that it was a good idea to bring the proceedings.
Longo is clear that he’s not speaking specifically about Star, but broadly about corporate law. So he’s not criticising the judge’sdecision but attempting to explain why they’re not always successful – even with a debacle like Star.
“At their very heart is the role of directors and the role of management… It’s fair to say his findings… show that it wasn’t a ringing endorsement of the board at all. I’m often asked, ‘Why don’t you go after those directors?’… community expectations or even my expectations can be: ‘That board could have done a better job.’
“But just because the community is unhappy doesn’t mean the law has been broken.”
6h agoThu 5 Mar 2026 at 9:52pmKyle and Jackie O’s former content director speaks out about contract ‘insanity’
Vulgar, sexually explicit and deeply offensive was how the media regulator once described the Kyle and Jackie O Show.
It’s doubtful the commercial radio executives would have been too worried about a slap from ACMA when a show is raking in the ratings, and advertising dollars.
But that wasn’t the case anymore, at least in Melbourne, where the Sydney-based program floundered, sinking to 5 per cent of audience share.
That would have rung alarm bells at parent company ARN Media, which reportedly signed the pair to a $200 million, 10-year deal in 2023.
That deal was a bridge too far, according to a man who had a hand in their early success at 2DayFM, their former content director Craig Bruce.
“The idea that radio could generate enough revenue in eight to 10 years from now to pay two people $10 million each a year was insanity and should never have happened,” Mr Bruce told 7.30.
Read more from 7.30’s Jasom Om.
6h agoThu 5 Mar 2026 at 9:17pmWildcards that could crash Australian superannuation
The total worth of Australian superannuation is roughly $4.5 trillion.
About 20 per cent (or between $800 and $900 billion) of that is invested in US assets, including shares.
A major market meltdown would change the financial plans of millions of Australians overnight.
Read this analysis from business correspondent David Taylor.