The S&P/ASX 200 rose 1.5% to 8,731 on Tuesday, breaking a two-session losing streak as risk appetite improved following new remarks from US President Trump on the Middle East conflict. He characterized the war involving Iran as likely to be “short term,” implying that the roughly 10-day confrontation that has unsettled global markets may be approaching its conclusion, though he did not offer a definitive timeline. Trump also said he expects oil prices to decline, striking an upbeat note after crude recently climbed above $100 per barrel.
On the domestic front, the Westpac–Melbourne Institute Consumer Sentiment Index increased 1.2% month-on-month to 91.6 in March, offsetting a 2.6% fall in February and posting its first rise since November. Most sectors took part in the rebound, led by major financials: CBA, NAB, Westpac, and ANZ Group each gained between 2.0% and 2.1%. By contrast, energy shares lagged, with Woodside Energy down 3.6% and Santos off 3.2%.
