Jul 13, 2026 – 4.43pmWar is heating up again in the Middle East, sending the price of oil higher. But it’s not the major concern for investors on the Australian sharemarket as they forecast yet another year of middling returns for the ASX.Instead, traders say the biggest headwinds are the country’s lack of exposure to artificial intelligence, combined with fading earnings for the big four banks, which represent roughly one quarter of the S&P/ASX 200’s value.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
ASX unmoved by Iran war flare-up, but it has plenty of other headaches
Soft earnings growth at the banks and a lack of exposure to the booming AI trade will keep a handbrake on the local sharemarket, fund managers warn.
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