ASX 200 Live Today - Thursday, 2nd April
Today’s ASX 200 Updates
Welcome to our live ASX coverage for Thursday, April 2. Expect a high volume of posts pre-market and more periodic updates throughout the day. We'll be wrapping the blog up a little earlier than usual, at ~12:00 pm AEST. Let us know how we can make it even better.
ASX 200 holds slight gains heading into the long weekend
[12:45 pm] That's a wrap for the week. The ASX 200 is currently up 1.15% for the week at 8,632, recovering after a dip on Monday to 8,461.
The S&P/ASX 200 Materials Index is the standout for the week, up 4.33%. While the S&P/ASX 200 Tech Index lags, currently down 3.58% for the week.
That's all from us today. Have a good long weekend and make sure to come back Tuesday morning for more coverage. As always, thanks for tuning in.
By Stephanie Gardner
Trump declares US objectives in Iran "nearing completion"
[12:40 pm] Trump addressed the nation in a primetime speech outlining the progress of Operation Epic Fury against Iran, framing the conflict as a strategic and economic necessity.
Trump declared that Iran's navy, air force, and missile production capabilities have been destroyed, with core strategic objectives "nearing completion."
Energy shipments from the Gulf have largely ground to a halt after Iran threatened to attack vessels crossing the Strait of Hormuz, a critical trade waterway, in retaliation for US-Israeli strikes. Trump urged countries reliant on Gulf oil to take the lead in securing the strait, saying the US does not need Middle Eastern oil.
Trump posted on social media that the US would consider a ceasefire only "when Hormuz Strait is open, free, and clear," whilst Iran's foreign ministry called his claim that the country had requested a ceasefire "false and baseless."
Trump referenced Operation Midnight Hammer, a strike ordered in June 2025 against Iran's nuclear programme, claiming the nuclear sites were "totally obliterated."
A BBC analyst noted that Trump's promise that the US is "better prepared" than ever to handle the economic fallout will ring hollow for those who argue the threat to oil shipping only emerged after US and Israeli strikes began.
The ASX 200 sold off following the speech, falling 85 points or roughly 1% from 8,716 at midday to 8,631.
By Stephanie Gardner
Oil back below US$100 a barrel
[11:59 am] Brent crude prices have dropped just below the US$100 mark, with futures slipping 1% to $98.71.
We're now minutes away from Trump's address, with many expecting him to announce a wind-down of the US's military conflict in the Middle East.
By Tom Stelzer
ASX holding steady
[11:45 am] The ASX 200 has extended its moderate gains today as we count down to Trump's speech, which is due to start in around 15 minutes. The index is now up 0.57%, and up 2.17% this week.
Despite the chaos, it's also just about managed to stay in the green for 2026, up 0.06% year-to-date.
By Tom Stelzer
KGL Resources agrees $300m precious metals deal, jumps 57%
[11:08 am] Microcap miner KGL has entered into a precious metals purchase agreement with Wheaton Precious Metals Corp to fund the development of its Jervois copper project in the Northern Territory.
The funding deal will provide $275m upfront, with a further $25m for cost overruns. KGL aims to produce 30kt pa of copper from 2027, with an 18-month construction schedule for the site.
KGL shares rocketed 57% on the news this morning.
By Tom Stelzer
KMD crashes almost 60%
[11:01 am] Clothing company KMD Brands, which owns brands including Rip Curl and Kathmandu, has seen a huge selloff after it resumed trading this morning following the finalisation of its emergency cap raise.
The flailing New Zealand-based business hadn't traded this week as it sought to secure funds to stem big 1H26 losses. It's now down 56.7% today, and chairman David Kirk will also be stepping down, with no immediate replacement announced.
By Tom Stelzer
Europe joins recovery rally
[10:50 am] After US markets bounced on Tuesday, global markets have followed suit, first in Asia and now in Europe, where the Stoxx 600 was up 2.5% overnight, the DAX up 2.7% and the FTSE up 1.9%.
Despite Trump suggesting the US was considering withdrawing from NATO, the UK has invited 35 countries, including Australia and excluding the US, to attend talks centred around reopening the Strait of Hormuz.
By Tom Stelzer
8 sectors up, Energy only big mover
[10:44 am] Outside of Energy, there's been little notable movement on a sector level for the ASX.
8 of 11 sectors are marginally up, while Energy is now 3.5% down.
By Tom Stelzer
The ASX treads water
[10:36 am] After a strong recovery yesterday, the ASX 200 has edged slightly higher this morning, up 0.35%, as the market waits with bated breadth for the next development in the US-Iran conflict.
After Prime Minister Anthony Albanese's non-event of a national address last night, investors are waiting for what US President Donald Trump has to say about the situation in the Middle East when he speaks at around midday AEDT.
By Tom Stelzer
Energy stocks broadly lower
[10:23 am] The S&P/ASX 200 Energy Index is down 3.2% as WTI crude futures settled at $99.60 per barrel on Wednesday, with optimism rising for a resolution to the conflict with Iran.
Ticker | Company | % Chg | Price |
|---|---|---|---|
IVZ | Invictus Energy | -6.25% | $0.05 |
BRK | Brookside Energy | -4.42% | $0.54 |
YAL | Yancoal Australia | -3.96% | $7.88 |
KAR | Karoon Energy | -3.92% | $1.91 |
WDS | Woodside Energy Group | -3.73% | $33.78 |
CUE | Cue Energy Resources | -3.33% | $0.15 |
BPT | Beach Energy | -2.71% | $1.26 |
STO | Santos | -2.38% | $7.78 |
NHC | New Hope Corporation | -2.21% | $5.75 |
WHC | Whitehaven Coal | -2.16% | $9.04 |
VEA | Viva Energy Group | -2.13% | $2.53 |
NXG | NexGen Energy | -1.98% | $16.85 |
ALD | Ampol | -1.64% | $33.05 |
PDN | Paladin Energy | -1.61% | $11.62 |
DYL | Deep Yellow | -1.57% | $1.88 |
WEL | Winchester Energy | 0.00% | $0.00 |
STX | Strike Energy | 1.90% | $0.11 |
By Stephanie Gardner
Top ASX 200 gainers and losers
[10:15 am] Here are today's top gainers and losers on the S&P/ASX 200.
Ticker | Company | % Chg | Price |
|---|---|---|---|
AAI | Alcoa Corporation | 4.70% | $102.40 |
GGP | Greatland Resources | 4.68% | $13.64 |
NEM | Newmont Corporation | 4.27% | $165.19 |
NST | Northern Star Resources | 3.85% | $22.95 |
WGX | Westgold Resources | 3.82% | $6.53 |
EMR | Emerald Resources | 3.44% | $6.02 |
RMS | Ramelius Resources | 3.22% | $4.01 |
RRL | Regis Resources | 3.09% | $7.35 |
SFR | Sandfire Resources | 3.01% | $17.44 |
ILU | Iluka Resources | 2.95% | $6.98 |
Ticker | Company | % Chg | Price |
|---|---|---|---|
WDS | Woodside Energy Group | -3.82% | $33.75 |
YAL | Yancoal Australia | -3.66% | $7.90 |
PXA | Pexa Group | -3.55% | $12.51 |
BPT | Beach Energy | -3.10% | $1.25 |
STO | Santos | -2.63% | $7.76 |
NHC | New Hope Corporation | -2.55% | $5.73 |
VEA | Viva Energy Group | -2.52% | $2.52 |
SMR | Stanmore Resources | -2.50% | $2.73 |
WHC | Whitehaven Coal | -2.27% | $9.03 |
MEZ | Meridian Energy | -1.96% | $4.51 |
By Stephanie Gardner
BHP locks in US$4.3B silver streaming deal
[9:16 am]
BHP Group (BHP) has completed a long-term silver streaming agreement with Wheaton Precious Metals, securing US$4.3 billion in upfront proceeds tied to production from the Antamina mine in Peru.
Under the deal, BHP will deliver a portion of future silver output in exchange for the payment, alongside ongoing transfer payments linked to the silver price.
The structure allows BHP to monetise part of its future production while retaining operational exposure to the asset, with delivery terms stepping down after a set production threshold is reached.
Duratec expands east coast footprint with $12M acquisition
[8:46 am]
Duratec (DUR) will acquire Newcastle-based Pacific Welding Australia for up to $12 million, strengthening its presence in the Hunter Region and expanding its capabilities across energy and mining.
The deal includes a $6 million upfront payment and up to $6 million in earn-outs tied to FY27–FY28 performance. PWA generated $14.8 million in revenue and $1.67 million EBITDA in FY25, and brings established client relationships and specialist fabrication expertise.
The acquisition enhances Duratec’s self-perform model and supports its push into higher-value infrastructure and industrial markets, with completion expected by July 2026.
Northern Star launches $500M buyback as valuation gap widens
[8:46 am]
Northern Star Resources (NST) will undertake an on-market share buyback of up to $500 million, commencing around 23 April 2026 and running for up to 12 months. The program, equivalent to roughly 1.6% of issued capital, reflects management’s view that the current share price undervalues the business.
The buyback sits alongside its existing capital allocation framework, which includes dividends (20–30% payout) and reinvestment in growth, supported by rising cash flows from the KCGM Mill Expansion. Execution will depend on market conditions, with the company retaining discretion over timing and scale.
Good morning!
[8:43 am]
ASX 200 futures are up 19 pts (+0.21%) as of 8:30 am AEDT.
In a nutshell:
US markets close higher to start April as traders bet the Middle East conflict will soon end
Markets will eagerly await a speech by Trump at 12 pm AEDT.
The federal government is expected to announce restrictions on fuel use for motorists and non-essential industries soon after Easter
SpaceX has filed confidentially for an initial public offering, according to people familiar with the matter
