Wednesday 11th March – ASX 200 up 51 – Banks and Resources shone – RBA rate rise in focus next week.

11 Wednesday Mar 2026

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The ASX 200 rallied another 51 points in quiet trade. Jumped 17 points at the close on ETF rebalancing. Waiting for more news. Banks and resources led the gains, the Big Bank Basket up to $299.01 (0.8%) with ANZ the standout, up 1.8%. MQG up 1.3% with financials mixed. GQG dropped 5.5% on latest FUM numbers. Insurers better as yields rose on Andrew Hauser’s (RBA deputy) comments on inflation. QBE up 1.6%. Retail dropped after bank after bank forecast a rate rise next week to counter the oil price rise. JBH down 1.5% and NCK off 2.9%. Travel stocks failing to find buyers, WEB off 1.8%. Utilities fell with AGL bombing 5.6% with ORG down 1.4%. Healthcare stocks also in ICU today, CSL falling another 1.4% with RMD unwinding 3.4%. Tech lower as sellers took profits after recent rallies. WTC down 3.6% and XRO falling 2.2% with the All-Tech Index down 1.3%.

Resources did well, BHP, RIO and FMG pushed higher on IO price rises, rare earth stocks took off on LYC news of a JARE deal and floor price, up 16.2%. ARU jumping 16.0% with ILU also doing well. Gold miners were slightly positive, OBM jumped 21.5% on a big resource upgrade. Oil and gas stocks flat, coal eased and Uranium stocks better in places. It is 15 years since the Fukushima disaster. Japan now keen to embrace nuclear again as oil prices rise.

In corporate news, DRO announced a new manufacturing push in Europe. MAQ jumped 7.0% on a $200m hybrid investment.

On the economic front, money markets are now pricing in a 77% chance of a rate rise next week. Economists falling over themselves to warn on rises.

10-year yields steady at 4.85%.

Asian market recover, Japan up 2.6%, HK up 0.1% and China up 0.5%. Korea KOSPI up 3.5%

US Futures down DJ up 165 Nasdaq up 112.

HIGHLIGHTS

  • Winners: OBM, LYC, ARU, MEI, CU6, LIN, EQR
  • Losers: GLS, CNI, AGL, GQG, PPC, AX1, 360
  • Positive Sectors: Iron ore. Banks. Rare earths. Gold miners.
  • Negative Sectors: Retail. Tech. REITs. Healthcare.
  • ASX 200 Hi 8760 Lo 8710 – Narrow range.
  • Big Bank Basket: Rises to $299.01 (+0.8%)
  • All-Tech Index: Down 1.3%
  • Gold: Falls to $7246 on stronger AUD.
  • Bitcoin: Steady at US$70049
  • 10-year yields: Drops to 4.85%
  • AUD: Firms to 71.80c ahead of RBA next week.
  • Dow up 165 Nasdaq up 112

MARKET MOVERS

  • OBM +21.5% resource upgrade.
  • LYC +16.2% JARE deal with floor price.
  • ARU +16.0% rare earth stocks doing well.
  • MEI +15.8% rare earth focus.
  • EQR +11.1% cleansing notice.
  • SRL +4.3% volatility continues.
  • ILU +9.4% rare earths exposure.
  • EUR +12.8% critical metals rallying
  • MM8 +16.3% high grade gold at Lounge Lizard.
  • GLS -9.5% NTA.
  • GQG -5.5% FUM update.
  • ASB -4.3% who wants ships?
  • PPC -5.2% ex dividend.
  • AGL -5.6% broker comments.
  • AT4 -11.5% off the boil.
  • Speculative Stock of the Day: TOR +35.1% Spartan team join.

ECONOMIC AND OTHER NEWS

  • Markets now price a ~77–80% chance that the RBA will raise the cash rate next week amid inflation concerns linked to the Iran conflict. This follows hawkish commentary from RBA deputy governor Andrew Hauser warning that failing to act could lead to “toxic” inflation expectations.
  • Major banks including National Australia Bank, Westpac, Citi, UBS and Deutsche Bank have brought forward forecasts, many now expecting rate hikes in both March and May.
  • Several economists now see the cash rate peaking around 4.35%, reflecting stronger growth, a tight labour market and rising energy costs.
  • The Australian Office of Financial Management also successfully issued $1bn of 10-year bonds, attracting strong demand even with yields near 5%.
  • The International Energy Agency has proposed the largest release of oil reserves in its history. The 32 countries that belong to the IEA collectively hold at least 1.2 billion barrels of oil in emergency public stores.
  • US says it destroyed 16 Iranian minelayers near Strait of Hormuz.
  • Amazon leads record US corporate borrowing rush with nearly $50bn bond sales.  

And finally….

I worked at an eyeglass factory, but got fired for losing focus.

What do Alexander the Great and Winnie the Pooh have in common? Same middle name!

Clarence

XXXX

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