2323 GMT - Relief over a Middle East cease-fire has supported many Australian stocks. But to see sustained outperformance they need upgrades or interest-rate cuts, Macquarie says. It notes that August is the seasonal peak for conservative guidance and EPS cuts. "The main risk is no longer Iran-related disruption, which should become a FY27 relief theme where demand was delayed, and cost impacts were temporary," Macquarie says. The bigger issue is interest rates. "Higher rates are the slower earnings drag, working through housing, consumer spending and funding costs," Macquarie says. Among stocks that it considers to be well-positioned for higher-for-longer rates are QBE, Suncorp, APA and Goodman.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 28, 2026 19:23 ET (23:23 GMT)

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