Australian Stocks Dip as Iran Strikes U.S. Assets

The S&P/ASX 200 index fell 0.33 percent to 8,947.20 on Monday, August 3, 2026. The decline was driven primarily by weakness in the technology and energy sectors, though the broader market faced volatility following military strikes by Iran against United States military assets in Bahrain and Kuwait. These strikes caused a rise in global crude oil prices.

Despite the general market downturn, FleetPartners shares surged more than 16 percent after SG Fleet launched a $770 million takeover bid for the company.

Domestic economic data provided a positive contrast to the stock market performance. S&P Global reported that Australia's manufacturing sector expanded at a faster rate in July, recording a Purchasing Managers' Index score of 52.0.