ASX falls as miners and banks slide in war limbo; energy stocks gain

{"@context":"https://schema.org","@type":"NewsArticle","dateModified":"2026-04-28T01:19:28Z","datePublished":"2026-04-27T19:26:26Z","description":"The Australian sharemarket fell again in early trade as uncertainty lingers if and when the US and Iran will find a deal to end their two-month war.","headline":"ASX falls as miners and banks slide in war limbo; energy stocks gain","keywords":"World markets, Just in, Wall Street, Shares","author":[{"@type":"Person","name":"Staff writers"}],"mainEntityOfPage":{"@id":"https://www.smh.com.au/business/markets/asx-set-to-fall-wall-street-steady-as-oil-prices-rise-microsoft-openai-loosen-partnership-20260428-p5zril.html","@type":"WebPage"},"image":{"@type":"ImageObject","height":"1322.6666666666665","url":"https://static.ffx.io/images/$zoom_0.9249%2C$multiply_0.7025%2C$ratio_1.777778%2C$width_1059%2C$x_135%2C$y_0/t_crop_custom/q_86%2Cf_auto/6800fac5e7bdec53ebde5d6a3077a851523da238","width":"744"},"isAccessibleForFree":false,"hasPart":[{"@type":"WebPageElement","isAccessibleForFree":false,"cssSelector":".paywall"}],"publisher":{"@type":"NewsMediaOrganization","name":"The Sydney Morning Herald","logo":{"@type":"ImageObject","height":"628","url":"https://www.smh.com.au/metro-assets/assets/static/smh.png","width":"1200"},"url":"https://www.smh.com.au"},"isPartOf":{"@type":["CreativeWork","Product"],"name":"The Sydney Morning Herald","productID":"smh.com.au:webonly"}}{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","item":{"@id":"https://www.smh.com.au/business","name":"Business"},"position":1},{"@type":"ListItem","item":{"@id":"https://www.smh.com.au/business/markets","name":"Markets"},"position":2},{"@type":"ListItem","item":{"@id":"https://www.smh.com.au/topic/world-markets-hvj","name":"World markets"},"position":3}]}AdvertisementUpdatedBusinessMarketsWorld marketsASX falls as miners and banks slide in war limbo; energy stocks gainStaff writersUpdated April 28, 2026 — 11:19am,first published April 28, 2026 — 5:26amSaveYou have reached your maximum number of saved items.Remove items from your saved list to add more.ShareAAAThe Australian sharemarket fell again in early trade as uncertainty lingers if and when the US and Iran will find a negotiated solution to end the two-month war that’s choked energy supplies and heightened inflation risks.The S&P/ASX 200 dropped 54.4 points, or 0.6 per cent, to 8712 as of 10.59am AEST, with energy stocks the only sector modestly in the green as traders weighed the next steps toward peace talks over the Iran war, with the US discussing a proposal from Tehran while the crucial Strait of Hormuz remained almost impassable.The ASX lost 0.2 per cent on Monday. The Australian dollar was trading at US71.86¢.Wall Street was treading water overnight.APUtilities led the bourse’s declines in early trade, pushed down by a 4.1 per cent slump in Origin Energy and a 1.1 per cent drop in AGL Energy. Origin said on Monday its LNG production fell in the March quarter and revenues also slipped due to lower realised LNG prices and the rise in the Aussie dollar. “Global commodity markets have experienced significant volatility this quarter, with the conflict in the Middle East affecting oil and LNG supply,” Origin’s CEO Frank Calabria said in a statement. “Changes in oil prices have a lagged effect on Australia Pacific LNG’s long-term export contracts, and we do not expect this to flow through to results until FY…

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