0433 GMT - Ampol's March-quarter sales volumes and refining margins were stronger than Macquarie's expectations. A note from one of the investment bank's analysts says that Australian fuel sales were about 1% stronger than they had expected. The note points to the impact on demand of panic buying in the weeks that followed the U.S. and Israeli attack on Iran in late February. The conflict also helped inflate refining margins above expected levels, the note adds. In all, the refining performance is seen as solid to Macquarie. The investment bank has a last-published outperform rating and A$40.00 target price on the stock, which is up about 3.4% at A$32.67. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 22, 2026 00:33 ET (04:33 GMT)

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