ASX 200 Live: Monday, May 11, 2026
Welcome to our live coverage of the ASX 200, with a focus on key market movements and company updates. Today's session promises to be eventful, with a mix of divestments, earnings reports, and geopolitical tensions.
Market Highlights
- ASX 200 Futures: Down 42 points (-0.48%) as of 8:30 am AEST.
- S&P 500 and Nasdaq: Closed at fresh record highs, driven by a semi-led tech rally and strong April jobs data.
- Oil Prices: Brent crude up 4.1% to US$104.41 a barrel, influenced by Iran-related tensions.
- Consumer Sentiment: US consumer sentiment hits a fresh record low of 48.2, impacted by elevated energy prices.
Company Updates
Elevra Lithium
- Divestment: Elevra Lithium sells its entire rights and interests in the Ewoyaa Lithium Project in Ghana to Huayou for $71 million in cash.
- Net Cash Position: US$58.7 million as at 31 March 2026.
Inghams
- Earnings Guidance: Inghams reaffirms FY26 EBITDA guidance at $180-200 million, with core poultry volumes and pricing slightly higher year-on-year.
- Cost Pressures: Middle East geopolitical developments driving material cost increases.
- Operational Adjustments: $60-80 million in annualised savings from labour, procurement, and site operations initiatives.
CSL
- Guidance Downgrade: CSL lowers FY26 revenue and NPATA guidance, citing non-cash impairments and revenue impacts from various segments.
- Market Impact: CSL is down 28% YTD, trading at the lowest since March 2017.
Lottery Corp
- Insider Purchases: CEO and Chairman buy shares following the Victorian Lottery licence extension.
- Licence Extension: Early 40-year extension through 2068, secured via a $1.15 billion upfront premium.
Geopolitical Tensions
- Iran-US Conflict: Trump rejects Iran's peace proposal, sending oil prices higher. Drone attacks in Qatari waters and ongoing tensions in the Persian Gulf.
- Trump-Xi Summit: Expected to address trade, Iran, and rare earths, with the US seeking Chinese support for an Iran agreement and reopened Hormuz.
Market Sentiment
- Bullish Factors: Diplomatic traction on Iran, AI compute demand, solid macro backdrop, retail investors back in the market, and healthier earnings breadth.
- Bearish Factors: Near-term Iran resolution complexities, froth concerns, physical supply disruptions, consumer resilience cracking, lagged inflation impact, and AI-related layoffs.
Economic Data
- US Nonfarm Payrolls: April jobs data beats expectations with 115k nonfarm payrolls, non-inflationary wage growth, and steady unemployment at 4.3%.
- Consumer Sentiment: US consumer sentiment hits a fresh record low of 48.2, impacted by elevated energy prices.
Outlook
The market remains volatile, with geopolitical tensions and economic data influencing sentiment. Investors should monitor company updates, earnings reports, and global events for further insights and potential opportunities.
