September has been a rough month for our local share market.

The S&P/ASX 200 Index (ASX: XJO) has fallen in five of its past 6 sessions, including another 0.88% decline on Tuesday.

Wednesday is finally giving investors some relief, with the benchmark index up 0.26% to 8,695 points at the time of writing.

That still leaves the ASX 200 down around 2.5% over the past week and 4.6% over the past month. The index has now slipped slightly into negative territory for 2026.

So, is the market starting to find its feet?

Buyers are starting to come back

There is a bit more support under the market today than we have seen recently.

At the latest check, 105 of the top 200 shares were higher, compared with 84 lower and 11 unchanged.

The gains are being helped along by some of the ASX’s biggest resources stocks.

BHP Group Ltd (ASX: BHP) shares are up 1.13% to $59.92, while Rio Tinto Ltd (ASX: RIO) shares have gained 0.81% to $165.83.

Fortescue Ltd (ASX: FMG) shares are also 1.05% higher at $16.39.

Energy shares are doing even better, with oil prices still elevated as tensions in the Middle East continue.

Woodside Energy Group Ltd (ASX: WDS) shares are up 3.12% to $33.36, and Santos Ltd (ASX: STO) shares have climbed 2.22% to $8.74.

There’s still plenty to watch

That being said, one better session doesn’t mean the recent weakness is over.

The ASX 200 closed at 9,127 points on 26 August, which leaves it more than 400 points below that level today.

There’s also plenty happening outside Australia that could keep investors on edge.

Oil prices remain high, while the US 10-year Treasury yield has pushed above 5%, adding another challenge for share markets.

Wall Street finished lower again overnight, with the Dow Jones Industrial Average (DJX: .DJI) falling 0.63%, the S&P 500 (SP: .INX) down 0.45%, and the Nasdaq Composite (NASDAQ: .IXIC) dropping 0.78%.

Investors are now waiting for the Federal Reserve’s next interest rate decision and any clues on what could come after it.

Foolish takeaway

I wouldn’t read too much into one positive session just yet.

The ASX 200 has been under pressure for most of September, so today’s rise could simply be a dead-cat bounce.

What I’d rather see is the index put together a few decent sessions and start working its way back towards 8,800.

Until that happens, I’d be careful about calling the recent sell-off over.

The post The ASX 200 is finally rising. Is the sell-off running out of steam? appeared first on The Motley Fool Australia.

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• Why I’d buy and hold BHP shares for 10 years
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• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Fortescue Ltd (ASX: FMG) shares are finally back in positive territory on Wednesday.

The Fortescue share price is up 0.96% to $16.37 in early afternoon trade after spending the previous four sessions in the red.

That run took the stock from $17.61 on 9 September to $16.22 at yesterday’s close, a drop of almost 8% in less than a week.

Fortescue shares are down about 25% since the start of 2026 and are trading near their 52-week low.

And while there is no new ASX announcement today, another long-running issue has moved back into the spotlight.

Let’s take a closer look.

A $150 million legal battle continues

According to The Australian, Fortescue has lodged an appeal against the Federal Court’s landmark native title compensation ruling involving the Yindjibarndi people.

The court ordered the miner to pay $150 million for cultural loss, along with compensation for economic loss and interest, relating to mining activities on Yindjibarndi land.

Fortescue paid the amount in July, but the company has now joined the Western Australian Government in appealing parts of the decision.

A Fortescue spokesperson said the company needed to protect its legal position after other parties took the matter back to court.

The Yindjibarndi have also appealed the award, arguing the compensation should have been higher.

What else are investors watching?

The legal case comes at a time when Fortescue shares have already been struggling.

Its FY26 result was a bit of a mixed bag.

Revenue rose 9% to US$17 billion, while underlying EBITDA climbed 9% to US$8.6 billion.

Iron ore shipments also reached a record 201.3 million tonnes.

Underlying net profit after tax (NPAT) increased 3% to US$3.5 billion, and free cash flow rose 25% to US$3.2 billion.

But the statutory result was weaker, with profit falling 15% to US$2.86 billion.

That included a US$525 million after-tax impairment relating to Iron Bridge and a US$73 million after-tax compensation claim expense.

Shareholders also received a smaller final dividend, which fell 23% to 46 cents per share. That took total FY26 dividends to $1.08 per share.

Where to next?

The court case is worth watching, but I don’t think it will be the main thing driving Fortescue shares from here.

Fortescue is still heavily tied to what happens with iron ore, and that means China remains a big part of the backdrop.

If iron ore prices hold up and the Asian superpower avoids another slowdown, sentiment towards Fortescue shares could improve again.

The post Fortescue shares break a 4-day losing streak as $150 million legal fight heats up appeared first on The Motley Fool Australia.

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• Sell alert! Why this expert is calling time on Boss Energy and Fortescue shares
• Fortescue shares just hit a 52-week low. Could $16 be next?
• Experts name CBA and these big-name ASX 200 shares as sells this week
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Reliance Worldwide Corporation Ltd (ASX: RWC) shares are having another strong session on Wednesday.

The stock is up 4.39% to $4.52 at the time of writing after trading as high as $4.65 earlier this morning.

That’s a new 52-week high, taking Reliance shares up more than 23% over the past month and around 17% in 2026.

The latest rise comes after another major development in the company’s takeover talks.

But there could still be more to come over the next few weeks.

Let’s dive right in.

Brookfield locks in the deal

According to the release, Reliance has signed a scheme implementation deed with Brookfield.

Under the deal, Brookfield plans to acquire all Reliance shares for US$3.38 each in cash, or around $4.75 per share.

On an enterprise value basis, that values the company at roughly $4.1 billion.

Notably, Brookfield has had to increase its offer a few times to get here.

Its first approach came in at $4.15 per share, followed by offers of $4.25 and then $4.50.

Reliance then gave Brookfield access to non-public information while it carried out due diligence.

After several weeks of that process, Brookfield came back with the higher offer.

The Reliance board is now unanimously backing the deal, provided there is no better proposal and the independent expert gives it the tick.

Chair Russell Chenu said the board had “carefully assessed” the offer, including Reliance’s outlook, growth opportunities and cash generation.

Could another buyer still emerge?

Now, this is where things get a little more interesting.

Reliance has agreed to the Brookfield deal, but it still has the chance to see if someone else is willing to pay more.

The agreement includes a 30-day “go-shop” period, which runs until 15 October.

During that time, Reliance can approach other potential buyers, share due diligence information and negotiate another proposal.

AustralianSuper is also worth keeping an eye on.

According to The Australian, the super fund recently increased its stake in Reliance to 14.68%.

This means it could have a decent say in how things play out when shareholders eventually vote.

What happens next?

At $4.52, Reliance shares are still trading below the $4.75 value of Brookfield’s offer.

And there are a few reasons for that.

The deal still needs shareholder, court and regulatory approval, while completion isn’t expected until the first quarter of 2027.

The final value could also move around because the offer is being paid in US dollars.

So, clearly there’s still a few hurdles to get through.

The post Reliance shares surge to a 52-week high on $4.1 billion takeover deal appeared first on The Motley Fool Australia.

More reading

• Brookfield moves to acquire Reliance Worldwide Corporation at a 43% premium
• 10 ASX 200 shares downgraded by analysts this week
• Here are the top 10 ASX 200 shares today
• Reliance Worldwide FY26 profit falls but receives Brookfield takeover offer

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.