0138 GMT - Investors will likely focus on potential second-order impact from the Middle East conflict when Australian industrials report earnings this month, UBS says. That includes inflationary impact on U.S. consumer demand for packaging and housing, which could affect James Hardie and Amcor, says the bank. Then there's the impact of higher energy and nitrogen pricing, seen affecting Orica and Dyno Nobel, UBS says. "For our mining exposed companies (ORI/DNL/ALQ), we will be looking for updates on mining activity, given commodity price volatility and potential for diesel supply disruption," UBS says. "We expect U.S. consumer and housing stocks (AMC/JHX) to set a cautious tone, given the decline in U.S. consumer confidence and mortgage rate increases." (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

May 03, 2026 21:38 ET (01:38 GMT)

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