ASX 200 flat at 8,786.5 as IGO -17.9% offsets SUN +4.5% and oil-led energy — 24 April 2026 afternoon brief
ASX 200 close: 8,786.5 (-6.9 pts, -0.08%) All Ords: 9,006.4 (-0.20%) ASX VIX (XVI): 12.93 (-3.10%) Sentiment: mixed
The S&P/ASX 200 closed at 8,786.5 on Friday 24 April 2026, down 6.9 points (-0.08%), as IGO.AU -17.92% on a Q3 Greenbushes guidance cut and FMG.AU -5.67% on Iron Bridge cyclone-related shipment misses pulled the materials sub-index (XMJ) -1.01%. Brent's 4.47% overnight gain lifted energy (XEJ +1.47%) and utilities (XUJ +2.17%) — WDS.AU +2.64%, ORG.AU +2.57%, VEA.AU +2.13%, KAR.AU +1.82%. SUN.AU +4.47% topped large-caps after locking A$2.4bn of five-year aggregate reinsurance cover and reaffirming 3% FY26 GWP growth.
Session highlights
- IGO.AU -17.92% to A$7.01 — Q3 Greenbushes spodumene flat at 351kt despite the new CGP3 contribution; Kwinana lithium hydroxide refinery at 51% of nameplate recorded an A$8m EBITDA loss. Group underlying EBITDA A$119m on a 45% revenue lift; net cash A$327m.
- FMG.AU -5.67% to A$19.78 — Q3 iron ore shipments 48.4Mt vs ~49Mt consensus; Iron Bridge FY26 guidance cut to 9-10Mt (from 10-12Mt) after Cyclones Mitchell and Narelle disrupted shipping. Group FY26 guidance maintained at 195-205Mt.
- SUN.AU +4.47% to A$17.05 — Secured A$800m-per-year / A$2.4bn-over-five-years aggregate reinsurance from 30 June 2026; A$100m one-off capital release; FY26 GWP growth reaffirmed at 3%. Shares hit an intraday high A$17.98 (+10.2%) before settling.
- XFJ +0.30% broke the nine-session losing streak flagged in the morning brief; CBA.AU, WBC.AU, NAB.AU, and ANZ.AU held their ground alongside SUN.AU's 4.47% lift.
- REG.AU -3.27%, BMN.AU -5.49%, ARU.AU -5.63%, SLX.AU -3.21% — four of Thursday's top-five gainers reversed Friday; KAR.AU +1.82% was the only Thursday-gainer to extend.
Sector scorecard
- Best: Utilities (XUJ) +2.17% — ORG.AU +2.57% the single largest weight contributor.
- Second: Energy (XEJ) +1.47% — WDS.AU +2.64%, VEA.AU +2.13%, KAR.AU +1.82%.
- Worst: Materials (XMJ) -1.01% — IGO.AU -17.92%, FMG.AU -5.67% dominant drags; gold miners NST.AU -3.49%, RMS.AU -3.63% and rare-earths ARU.AU -5.63% added to the drift.
- Dispersion: 3.18pp between XUJ (+2.17%) and XMJ (-1.01%) — widest single-factor spread of the week.
- Financials (XFJ +0.30%), Staples (XSJ +0.38%), Health Care (XHJ +0.18%) ground higher; Discretionary (XDJ -0.03%), Info Tech (XIJ -0.28%), A-REIT (XPJ -0.32%) drifted lower.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| SUN.AU | +4.47% | A$2.4bn / 5-year aggregate reinsurance cover + 3% FY26 GWP growth reaffirmed |
| WDS.AU | +2.64% | Brent +4.47% overnight on Hormuz minelaying escalation |
| ORG.AU | +2.57% | Gentailer lift alongside oil-linked pricing and utilities rotation |
| COH.AU | +2.47% | Healthcare bid; no COH-specific release |
| KAR.AU | +1.82% | Oil beta — Brent Jun 26 above US$105/bbl at AU close |
| IGO.AU | -17.92% | Q3: Greenbushes guidance cut; Kwinana refinery at 51% nameplate, A$8m hydroxide EBITDA loss |
| FMG.AU | -5.67% | Iron Bridge FY26 guidance 10-12 → 9-10Mt on Cyclones Mitchell + Narelle |
| ARU.AU | -5.63% | Rare-earths sell-off ahead of 29 Apr Q3 call; no ARU-specific release today |
| BMN.AU | -5.49% | Uranium reversal after Thursday's +11.53% spike; no BMN release |
| CXO.AU | -4.41% | Lithium complex dragged by IGO read-through |
Notable announcements
- IGO.AU Q3 FY26 quarterly: Greenbushes 351kt spodumene; Kwinana 3,047t lithium hydroxide (51% nameplate); group EBITDA A$119m; net cash A$327m. Nova nickel cash costs -24% to A$3.47/lb; Nova FCF A$52m.
- FMG.AU Q3 FY26 quarterly: Total shipments 48.4Mt (consensus ~49Mt); Iron Bridge FY26 revised 9-10Mt (was 10-12Mt); FY26 group total 195-205Mt held.
- SUN.AU reinsurance: A$800m annual / A$2.4bn 5-year aggregate cover effective 30 June 2026; A$100m capital release expected.
- ARU.AU: Q3 investor call scheduled 10:00 AEST Tue 29 April 2026; March quarter report not yet released at AU close Friday.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 (cash) | 7,108.40 | -0.41% | Thursday NY close; last settled print into AU open |
| NASDAQ (cash) | 24,438.50 | -0.89% | Thursday NY close; software-led pullback from intraday record |
| Nikkei 225 | 59,716.18 | +0.97% | Friday JP close; outperformed the regional tape |
| Hang Seng | 25,971.85 | +0.22% | Still trading at AU close; session high 26,004.59 |
| Brent Jun 26 | US$105.75 | +0.65% | Intraday vs Thursday's +4.47% NY close |
| Gold Jun 26 | US$4,698.30/oz | -0.54% | Second consecutive down-session |
| Copper May 26 | US$6.008/lb | -1.21% | Base metals extended Thursday's -1.69% |
| AUD/USD | 0.7126 | -0.04% | Flat through the AU session; spot 8bp off overnight low |
Next 24h catalysts (AEST)
- Sat 25 Apr — ANZAC Day public holiday; ASX closed (Saturday observance, no NSW substitute Monday).
- Mon 27 Apr 10:00 — ASX resumes normal trading; overnight: Fri 24 Apr NY close to set the Monday open gap.
- Tue 29 Apr 10:00 — ARU.AU Q3 investor call; March quarterly release expected alongside.
- Wed 29 Apr AMC (US) — MSFT.US, GOOGL.US, META.US, AMZN.US earnings hit AU Thu 30 Apr open.
- Wed 30 Apr 11:30 AEST — ABS Q1 2026 CPI release; RBA-relevant print.
- Thu 30 Apr AMC (US) — AAPL.US earnings hit AU Fri 1 May open.
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