24.03.202600:16:35UTC+00Australian Shares Snap 3-Session Decline

The S&P/ASX 200 rose 1.2% to 8,464 on Tuesday, snapping a three-session losing streak and rebounding from a ten-month low hit in the previous session, as market sentiment improved on easing geopolitical tensions. The US President announced a five-day delay to planned military strikes on Iranian power plants and energy infrastructure. The move followed reports that Washington and Tehran were in talks aimed at achieving a “complete and total resolution of hostilities” in the Middle East.

On the domestic front, Australia’s manufacturing PMI slipped to a five-month low of 50.1 in March 2026, while the services PMI fell into contraction for the first time since January 2024, declining to 46.6. Attention now turns to Wednesday’s inflation data, with the trimmed mean CPI expected to hold at 3.4% and headline inflation at 3.8%.

Heavyweight mining stocks led broad-based gains, with BHP Group, Rio Tinto and Fortescue advancing between 2.7% and 3.2%.