The S&P/ASX 200 Index (ASX: XJO) gained 1.1% in August but Qantas Airways Ltd (ASX: QAN) shares didn’t join in the rally.

Shares in the ASX 200 airline stock closed out July trading for $9.95. When the closing bell sounded on 31 August, shares were swapping hands for $9.42.

This saw the Qantas share price down 5.3% in the month just past.

Atop keeping one eye on the turbulent global oil prices in August, investors also pored over Qantas full year FY 2026 results.

Here’s what’s been happening

Qantas shares saddled with higher fuel costs

Qantas released its full financial year results on 27 August.

And most of the figures were down from FY 2025.

Management estimated that the impact from the Middle East conflict had so far cost the airline $420 million, largely due to higher jet fuel costs. Qantas’s total fuel cost for the FY 2026 came out to $5.7 billion.

Qantas reported underlying earnings per share (eps) of 96 cents, down 12.7% year-on-year.

And on the bottom line, the company’s underlying profit before tax of $2.06 billion, was down 13.8% from FY 2025.

On the passive income front, the ASX 200 airline declared a fully franked final dividend of 19.8 cents per Qantas share. That’s down 25% from last year’s final dividend payout.

That dividend is still up for grabs, by the way.

If you want to bank the final Qantas dividend, you’ll need to own shares at market close on 14 September. Qantas stock trades ex-dividend on 15 September. You can then expect to see that passive income land in your account on 14 October.

Qantas shares closed up 4.8% on the day of the results release.

As for that turbulent oil price this last month, Brent crude oil kicked off August at around US$90 per barrel. It then dropped to US$79 per barrel by 4 August amid hopes of a Middle East peace deal. But as talks faltered, oil pushed higher again.

Brent crude oil ended August right about where it started, at around US$90 per barrel, according to data from Bloomberg.

Despite higher fuel costs, Qantas expects to see its unit revenues grow by 8% to 10% in the first half of FY 2027.

How has the ASX 200 airline stock been performing in 2026?

As we head into the Wednesday lunch hour today, Qantas shares are changing hands for $9.26 apiece, down 11.8% year to date, trailing the 2.7% gains posted by the ASX 200 over this same period.

The post Buying Qantas shares? Here’s what happened with the ASX 200 airline in August appeared first on The Motley Fool Australia.

More reading

• How many Qantas shares do I need to buy for $10,000 per year of passive income?
• 2 ASX shares highly recommended to buy: Experts
• 5 ASX 200 shares with 33% to 61% upside post-results: experts
• Would I buy Qantas shares today?
• 9 ASX 200 shares with strengthened buy ratings this week

Motley Fool contributor Bernd Struben 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.

The S&P/ASX 200 Index (ASX: XJO) is heading south on Wednesday.

At the time of writing, the benchmark index is down 1.38% to 8,941.9 points, with losses spread across most sectors.

There are 159 ASX 200 shares trading lower, compared with just 34 risers and 7 unchanged.

If the market closes around these levels, it would be the ASX 200’s worst session since 28 May, when the index fell 1.43%.

So, what is weighing on the market today?

What’s behind today’s fall?

The weak start followed another poor session in the US.

The S&P 500 Index (SP: .INX) fell 0.7%, the Nasdaq Composite Index (NASDAQ: .IXIC) dropped 1%, and the Dow Jones Industrial Average (DJX: .DJI) lost 0.8%.

Oil prices and bond yields are both causing some headaches.

Brent crude surged 4.6% overnight to US$94.65 a barrel following another escalation in tensions between the US and Iran. It has since pushed above US$96 a barrel.

That is adding to inflation concerns at a time when investors are already pricing in a greater chance of further interest rate rises.

The US 10-year Treasury yield has climbed to around 4.79%. This is the highest level since October 2023, while Australian 10-year yields have moved back to levels last seen in 2011.

Mining shares are being hit hard

The resources sector is doing plenty of the damage, with copper and gold prices falling.

BHP Group Ltd (ASX: BHP) shares are down 2.93% to $64.88 after copper prices dropped overnight.

Gold miners are also having a difficult session, with Northern Star Resources Ltd (ASX: NST) shares down 4.81% to $22.55 and Evolution Mining Ltd (ASX: EVN) shares falling 4.29% to $14.28.

PLS Group Ltd (ASX: PLS) shares have also tumbled by 4.20% to $5.25.

In addition, a number of companies are trading ex-dividend today, with those moves expected to shave around 31 points off the index.

A few shares heading the other way

Energy shares are one of the few areas holding up as oil prices rise

Woodside Energy Group Ltd (ASX: WDS) shares are up 2.02% to $33.36, and Santos Ltd (ASX: STO) shares have gained 1.21% to $8.38.

Telstra Group Ltd (ASX: TLS) is another standout, rising 1.94% to $4.72.

GDP beats expectations

Investors also got a new read on the economy this morning.

Our GDP grew 0.4% in the June quarter and 2.1% over the year, ahead of expectations for growth of 0.3% and 1.8%.

Even though it wasn’t a huge beat, it’s another result that could keep the interest rate discussion alive.

The post Why is the ASX 200 having its worst day in 3 months? appeared first on The Motley Fool Australia.

More reading

• Santos versus Woodside shares: Which ASX energy stock outperformed in August?
• Why these ASX shares are worth watching closely today
• How to earn $10,000 in passive income a month with these ASX dividend shares
• Better buy: Telstra vs TPG Telecom shares
• The average superannuation balance for 64 year olds in Australia in FY27

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 positions in and has recommended Telstra Group. 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.

CSL Ltd (ASX: CSL) shares have slid slightly into the red in Wednesday lunchtime trade.

At the time of writing, the ASX biotech stock is down around 0.2% and is changing hands at $172 a piece.

Despite the softer share price today, CSL shares are still up a huge 38% over the past month alone, have rebounded 86% from a multi-year low in early-June, and are now roughly flat for the year-to-date.

What has driven CSL shares higher over the past month?

After a difficult 18 months, including several market and company headwinds, it looks like investor sentiment around CSL shares have finally turned a corner and the worst could finally be over. And it appears to be driven by several tailwinds.

It looks like investors finally realised that the CSL share sell-off was overdone, and the shares were selling too cheap compared to the underlying business. 

At the same time, it looks like ASX healthcare shares have come back into favor after a significant sell-off. CSL hasn’t moved in isolation, either. Australian healthcare stocks have staged a major recovery, with the healthcare index rising more than 20% in a month recently.

The S&P/ASX 200 Health Care Index (ASX: XHJ) has jumped 17% higher over the past month as investors rotate back into the sector.

CSL shares were boosted even higher after it posted an impressive FY26 result in mid-August.

CSL reported total revenue of US$15.8 billion and NPAT of US$2.6 billion. It also recorded a net loss after tax of US$2.6 billion for FY26, coming from pre-tax impairments and restructuring costs. 

CSL management describes FY26 as a ‘reset year’, with FY27 marking a return to growth.

The result came in way ahead of guidance and investors rushed to snap up the shares.

Are the shares a buy for September?

I think there is a lot of potential for the company to grow over the next few years. CSL is operating in a high-growth market, and its blood plasma division dominates the market for rare blood disorders and immunoglobulin products.

The company’s growth initiatives are clearly working. But it’s likely it will take a while longer to see the financial benefits.

At the moment, forecasts suggest the experts are mostly on the fence. But after the latest price spike, many think we’ll see a downside ahead. 

Market Index data shows that brokers are split between a buy and a hold rating on CSL shares. The $153.21 average target price now implies a potential 11% downside, at the time of writing.

Sentiment is similar on TradingView. The majority (10 out of 18) have a hold rating on the stock. However, the other eight rate CSL shares as a buy/strong buy.

The average $168.13 target price is higher, but it still implies a potential downside of around 2%, at the time of writing.

I’d consider adding them to my portfolio in September, but I’d be wary of exactly how much upside, if any, it left after CSL shares rallied in August.

The post CSL shares rebound 86%: Is the ASX biotech stock a buy, sell or hold for September? appeared first on The Motley Fool Australia.

More reading

• The 5 best ASX 200 stocks to buy and hold in August revealed
• Top 3 ASX shares to buy in September 2026
• CSL shares are up more than 40% in a month. What just happened in the US?
• 5 things reporting season taught ASX investors about FY27
• Where will CSL shares be in 12 months? Brokers weigh in

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