ASX:APL

Australia Stock Market This Week: ASX 200’s Worst Week Since March as Oil Shock, Fortescue Selloff Bite
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Australia Stock Market This Week: ASX 200’s Worst Week Since March as Oil Shock, Fortescue Selloff Bite

The S&P/ASX 200 dropped 1.8% for the week, closing Friday at 8,786.50, its sharpest decline since mid-March. Cochlear plunged 40.7% after slashing its profit outlook, while CSL hit a multi-year low following the end of a U.S. military vaccine mandate. Miners also fell, offsetting gains in energy stocks driven by Middle East tensions.
April 25, 2026

Stock Market Today

  • Ferrari shares dip after unveiling of first electric vehicle with Jony Ive design
    May 26, 2026, 10:10 AM EDT. Ferrari's shares fell by up to 8% in Milan after launching its first electric vehicle, the Luce, designed by former Apple chief Jony Ive. The $640,000 car offers 329 miles of range and fast acceleration, yet its unconventional, minimalist design-a significant shift from Ferrari's traditional petrol sportscars-divided analysts. The Luce, a five-seat, four-door saloon, targets wealthy families more than sportscar enthusiasts, marking a departure from Ferrari's heritage. CEO Benedetto Vigna highlighted the move as a bold step toward electrification. However, some experts criticized the design's appeal and questioned its alignment with Ferrari's iconic brand. Ferrari aims for an electric lineup mix by 2030, with 20% fully electric models planned.