Afternoon Report | Market rebounds as oil dips

0:00Welcome to the fear and greed business news afternoon report for Tuesday, the 10th of March, 2026. I'm Michael Thompson and every afternoon, we've got the five stories that happen today that you need to know about. Let's go story number one. The S&PA is X200 rebounded 1.1% today to 8,693 points. That comes after yesterday's very sharp sell-off. Today oil prices fell back below $100 US dollars of barrel and investors took quite a bit of comfort it seems from comments by US President Donald Trump suggesting that the Iran conflict may be winding down. Oil dropped as much as 10% during the session before finishing up at around $94 US dollars of barrel, easing fears of an extended energy shock after yesterday's surge towards $120 US dollars of barrel. Technology stocks led the recovery locally. Life 360 jumped to more than 10% technology. One was up more than 4%, wise tech global, edge higher, material stocks also bounced with minerals and mineral resources rather

1:05up nearly 6% and lithium-minor PLS gaining more than 5% BHP also had a good day. It was up more than 2%. Healthcare stocks strengthened. Prometicus rose more than 6% Neuron Pharmaceuticals up 9.2% while energy companies gave back some of yesterday's gains as oil retreated. Woodside down nearly 4% and Santos falling 3.5%. On to story number 2 now and 5 members of Iran's women's national soccer team have been granted humanitarian visas to remain in Australia after a phone call overnight between US President Donald Trump and Australian PM Anthony Albanese. The players had faced backlash in Iran after refusing to sing the national anthem at a women's Asian Cup match. Five of the women left their hotel late last night and now being protected by authorities after seeking asylum. Prime Minister Anthony Albanese said Australia would help any other members of the team who chose

2:07to seek assistance describing the situation as delicate but making clear that support was available. The PM and the President spoke about 2am this morning after Donald Trump had complained on social media that Australia wasn't doing enough to help the soccer team. The remaining players and staff left their accommodation today with reports they were heading to the airport for an international flight. Story number 3 commodities giant Glencore is considering listing shares on the ASX as it examines ways to improve Australian investor understanding of the company and drive up its valuation after the collapse of merger talks with Rio Tinto. The chief executive Gary Nagel said that a secondary listing in Australia could help more investors and improve familiarity with could help attract rather more investors and improve familiarity with Glencore helping support the trading multiple of the stock this is according to the financial review. Rio Tinto said on February 6th we remember we spoke about it at the time that it was dropping the month long merger talks with Glencore because the parties couldn't agree on a price for a script

3:12deal which would have created the world's biggest mining company with a valuation of more than $300 billion. Nagel said that the logic of a merger with Rio still existed but signal that the two companies were far apart on valuation got to say it would be good for the ASX to get a global listing like Glencore even if it is a secondary listing the local boss has had a little bit of trouble not just attracting offshore companies but just keeping local companies wanting to list. Story number four radio host Kyle Sandelands has demanded he be allowed to return to air insisting he did not breach his contract with broadcaster ARN despite the networks suspending him and terminating Jackie O Henderson's deal. Sandelands acknowledged that he regressed the way he spoke to Henderson during a broadcast last month but said that the pair had always resolved disagreements privately during their 27 year partnership. ARN claims that Henderson told the company she could no longer work with him after the February incident prompting the network

4:14to terminate her contract and suspend Sandelands the dispute has put the future of the $200 million Kyle and Jackie O deal in doubt with Sandelands saying that he intends to continue presenting breakfast radio and that he has engaged lawyers to challenge the company's actions. And finally story number five Apple has significantly expanded iPhone production in India it assembled about 55 million devices in the country last year which is a 53 percent increase on the previous year according to Bloomberg. That means that roughly one quarter of Apple's global iPhone output has now made in India as the company shifts manufacturing away from China to avoid tariffs and to diversify its supply chain. The expansion has been supported by incentives from the Indian government and returning the country into a global manufacturing hub. Apple still produces most iPhones in China but India is rapidly emerging as a second major base for production. And that's it for the afternoon report for Tuesday the 10th of March. Make sure you're following the podcast and please head along

5:16to fearandgreed.com.au to sign up for our free daily newsletter I'm Michael Thompson. Enjoy your evening.