ASX 200 Live: Monday, May 11, 2026
Welcome to our live coverage of the ASX 200 on Monday, May 11. We'll be bringing you the latest updates throughout the day, with a focus on key market movements and company news.
Market Snapshot
- ASX 200 Futures: Down 42 points (-0.48%) as of 8:30 am AEST
- S&P 500: Up 0.8%, closing at a fresh record high
- Nasdaq: Up 1.7%, closing at a fresh record high
- Brent Crude: Up 4.1% to US$104.41 per barrel
Key Headlines
- Elevra Lithium Divestiture: Elevra Lithium has agreed to sell its Ewoyaa Lithium Project in Ghana to Huayou for $71 million in cash. This provides a clean exit from the project, with completion subject to Ghanaian regulatory approvals.
- Inghams FY26 Guidance: Inghams reaffirmed its FY26 underlying EBITDA guidance at $180-200 million. They noted core poultry volumes and pricing are slightly higher year-on-year, but Middle East geopolitical developments are driving material cost increases.
- CSL Downgrades: CSL lowered its FY26 guidance, with revenue and NPATA falling short of market expectations. They expect significant non-cash impairments across FY26-27, impacting revenue by ~$150 million.
- Lottery Corp Insider Buying: The Lottery Corp's CEO and chairman bought shares after the Victorian Lottery licence extension. This deal is seen as strategically positive, removing overhang and extending the licence term.
- Bullish/Bearish Drivers: A rundown of market sentiment drivers, including diplomatic traction on Iran, AI compute demand, solid macro backdrop, and earnings breadth.
- Oil Prices: Brent crude is up 4.1% to US$104.41 per barrel after Trump rejected Iran's peace proposal. A drone strike on a cargo vessel in Qatari waters further tensions.
- US Consumer Sentiment: Consumer sentiment hits a fresh record low as gas prices bite, with one-third of consumers mentioning gasoline prices.
- US Jobs Data: April jobs data came in stronger than expected, with non-inflationary wage growth. This could give the Fed more confidence to cut rates later this year.
- US Equities: US stocks ended Friday near session highs, driven by a semi-led tech rally. The S&P 500 and Nasdaq logged fresh record closes.
Personal Commentary
Today's market action is a fascinating mix of geopolitical tensions, company news, and economic data. The Iran conflict continues to dominate, with oil prices soaring and consumer sentiment at a record low. The AI rally shows no signs of slowing, and the semi-led tech sector is driving US equity gains.
One thing that stands out is the impact of geopolitical events on market sentiment. The Iran-US tensions are a prime example, with oil prices volatile and consumer confidence taking a hit. It's a reminder that external factors can significantly influence market dynamics.
In my opinion, the ASX 200's response to these events is a testament to the market's resilience. Despite the challenges, the index has held up relatively well, with a focus on companies that can navigate these turbulent times. The key will be to monitor how these events unfold and how companies adapt to the changing landscape.
Stay tuned for more updates as the day progresses, and feel free to share your thoughts and insights in the comments section!
