Pulse check: How are the top 10 ASX 200 shares performing amid a new war?

What's happening with CBA, BHP, Wesfarmers, Woodside, Telstra, and other large-cap shares?

S&P/ASX 200 Index (ASX: XJO) shares are 0.5% lower on Friday and have fallen 8% since the war in Iran broke out.

The US and Israel launched strikes on Iran on 28 February (US time) with the intention of destroying Iran's nuclear capability.

This has caused a global fuel crunch, with oil prices skyrocketing due to the effective closure of the Strait of Hormuz.

The Strait is a crucial shipping lane for transporting oil and gas from the Middle East to markets worldwide.

On top of that, fresh missile strikes on energy infrastructure this week have further disrupted oil and gas supply chains.

These events have far-reaching ramifications for individual businesses relying on fuel to power machines and transport goods.

Higher petrol prices are already having a broader economic impact, contributing to the Reserve Bank's call to raise interest rates this week.

Amid all this volatility, how are Australia's top 10 ASX 200 shares faring?

Are they demonstrating resilience, or have they been caught up in the broader market sell-off?

Let's take a look at their share price performance since the start of March.

Businessman looks with one eye through magnifying glass.

Image source: Getty Images

Commonwealth Bank of Australia (ASX: CBA)

The Commonwealth Bank share price is $176.50, down 0.5% on Friday and up 1.1% since the war began.

Amid the market turmoil, CBA quietly reclaimed its title as Australia's largest ASX 200 share by market capitalisation.

CBA and BHP Group Ltd (ASX: BHP) have been passing the crown back and forth for the past few months.

On 27 February, BHP reassumed the title.

Less than three weeks later, CBA shares are back on top with more than $50 billion in market cap separating them from BHP shares.

Over 12 months, the CBA share price has lifted 21.1%.

BHP Group Ltd (ASX: BHP)

BHP is the market's largest mining share, and leads the ASX 200 materials sector.

The BHP share price is $47.56, down 1.6% on Friday and down 18.6% since the war in Iran began.

Over 12 months, BHP shares have lifted 22%, and reached a record high of $59.39 apiece last month.

ASX 200 mining shares have been the worst hit by the war, with the materials sector falling 19% so far this month.

Mining shares have fallen because higher oil prices will directly impact operating costs and potentially production, if there's a shortage.

It is also likely that investors are taking profits after a strong 12-month run for materials amid a new longer-term mining boom in Australia.

National Australia Bank Ltd (ASX: NAB)

Business lending specialist NAB is the second-largest ASX 200 bank by market capitalisation.

The NAB share price is $45.82, down 1.7% on Friday and down 6.5% since the start of the war.

Over 12 months, NAB shares have lifted 38%, and reached a record $49.45 last month.

Westpac Banking Corp (ASX: WBC) 

Westpac is Australia's oldest bank.

The Westpac share price is $40.87, down 0.6% today and down 3.9% since the war began.

Over 12 months, the ASX 200 bank share has lifted 33%, and hit a record $43.32 last month.

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price is $36.78, down 0.7% on Friday and down 8.1% since the war began.

Over 12 months, ANZ shares have lifted 26% and reached a record high of $41 last month.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is the largest ASX 200 consumer discretionary share. 

The conglomerate owns household names like Bunnings, Kmart, Officeworks, and Priceline.

The Wesfarmers share price is $73.51, down 0.2% today and down 7.7% since the start of the month.

Over 12 months, Wesfarmers shares are up 4%.

Macquarie Group Ltd (ASX: MQG)

This investment bank is the fifth-largest ASX 200 bank by market capitalisation.

The Macquarie share price is $195.70, down 0.2% on Friday and down 8.3% since the war broke out.

Over the past 12 months, Macquarie shares have fallen by 3%.

CSL Ltd (ASX: CSL)

CSL is still the largest ASX 200 healthcare stock, despite a near-halving in its share price over the past 12 months.

The CSL share price is $137.88, up 2.4% today and down 6% since the war in Iran began.

Over 12 months, CSL shares have fallen 46% due to company-specific issues, including a drop in vaccination rates worldwide.

The CSL share price touched an eight-year low of $133.35 yesterday.

Woodside Energy Group Ltd (ASX: WDS)

Woodside is the largest ASX 200 energy share on the market.

The Woodside share price is $33.92, up 0.7% on Friday and up 19.8% since the war started.

Over 12 months, Woodside shares have increased by 48%.

The oil & gas giant has benefited from rising oil and gas prices since the war began.

Over the past 30 days, the Brent Crude oil price has soared 47% while the European gas price has skyrocketed 96%.

The Woodside share price reached a two-and-a-half-year high of $34.31 in earlier trading today.

Telstra Group Ltd (ASX: TLS)

Telstra is the No. 1 ASX 200 communications share by market cap.

The Telstra share price is $5.31, up 0.1% on Friday and up 2.4% since the war in Iran began.

Over the past 12 months, Telstra shares have risen 28%.

On Friday, the Telstra share price reached a nine-year high of $5.35.

Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Macquarie Group, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Macquarie Group and Telstra Group. The Motley Fool Australia has recommended BHP Group, CSL, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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