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Steve Daghlian

๐Ÿ‘ค Speaker
1227 total appearances

Appearances Over Time

Podcast Appearances

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

It's something that we record weekly where we share insights into a different topic.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

So Instagram, YouTube and LinkedIn as well.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

Yes, and no progress being made there at all.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

As far as our sectors are concerned today, really, it's the utilities, a defensive area of our market, which is doing best, lifting about 2.2%.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

Energy stocks are up around 1.3%.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

Again, a lift in oil and gas prices have continued to provide a little bit of support there.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

In fact, since the conflict first began, the energy index here in Australia is up roughly 15%.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

And from one update to another, we've got Woodside Energy.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

It's up in the order of 2% today.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

So it's benefiting in part from the roughly 3% lift in oil prices last night.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

But the energy group also said in an update today that it expects those strong prices for LNG probably going to be helpful as far as boosting profits in coming quarters.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

So over the March quarter, LNG prices up an average of around 11% on the prior quarter.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

And Reliance Worldwide, this is the plumbing products company, it rose 3.6% yesterday, up another 3% today.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

Now, yesterday it did confirm that it's on track to meet its goals for the year.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

It said it doesn't have direct exposure to the war or the closure of the Strait of Hormuz, but it did also flag that higher prices are certainly lifting certain costs like resin logistics, and it's needing to essentially lift prices to offset that.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

And it also warned, of course,

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

on Tuesday, that a prolonged conflict could certainly be a negative, I guess, for the years ahead.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

The longer it lasts, the worse it could be.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

And I will also mention G8 education.

CommSec Market Update
Market Close 29 Apr 26: Inflation surges on high oil prices

It's down about 29% today.