ASX edges down at the open as markets eye ceasefire talks
Make us a preferred source
Make us a preferred source on Google
More news: Australian shares opened modestly lower at the open, as the US-Iran conflict showed mixed signals despite some suggestion of de-escalation overnight.
The benchmark ASX 200 was down by 10.1 points, or 0.12%, to 8,524 at 10:40am AEDT. Seven of the 11 sectoral indices opened in the red.
Energy (+0.54%) was the strongest performing sector, rebounding from the previous session's losses, supported by Yancoal (+1.50%), Ampol (+1.27%), Beach Energy (+1.60%) and Karoon Energy (+2.75%), as Brent crude dropped 2.2% overnight to around USD102 ($146).
Infratil (+5.84%) rallied and was the top performing stock across the ASX 200 despite expecting its data centre subsidiary CDC’s FY26 to be at the lower end of the guidance range.
Atlas Arteria (+4.58%), Austal (+2.65%), Mesoblast (+2.28%) and Perenti (+2.19%) were also among the best performing stocks at the open.
Elsewhere, tech (-1.71%) took the biggest hit, weighed lower by WiseTech (-2.73%), Xero (-3.30%), Technology One (-2.55%) and Life360 (-2.30%).
IperionX (-4.37%), Greatland Resources (-4.22%), Pantoro Gold (-3.97%) and Resolute Mining (-3.90%) followed suit as the worst performing stocks outside the tech sector.
On the data front, the Australian Bureau of Statistics is due to release finance and wealth figures at 11:30am AEDT.
Australian shares to open higher on signs of US-Iran ceasefire talks
The news: Australian shares are set to open higher after Wall Street finished higher on Wednesday, as optimism over potential de-escalation in the Middle East lifted investor sentiment, while Iran reviewed a US proposal to end the conflict.
The numbers: Updated at 7:45am AEDT:
- ASX futures: up 153 points to 8,578.
- Wall Street: Dow Jones up 0.66%, S&P 500 up 0.54% and the Nasdaq up 0.77%.
- Europe: CAC 40 up 1.33%, DAX up 1.41% and FTSE 100 up 1.42%.
- Spot gold: up 0.73% to USD4,505 per ounce.
- Oil prices: Brent down 1.19% to USD103.25/bbl and US WTI down 0.95% to USD91.42/bbl.
- AUD: down 0.70% at 69.46 US cents.
- Bitcoin: up 0.62% to USD71,016.
The context: All three major indices closed higher on Wednesday after White House press secretary Karoline Leavitt said the US was undertaking negotiations to end the war in Iran, though she declined to clarify the parties involved. US officials also said the United States and Israel had temporarily removed two senior Iranian figures from their target list as they explore possible peace talks.
Iran, on the other hand, signalled little willingness to compromise, with the semi-official Fars News Agency reporting that Tehran views indirect talks with the US as “illogical” and not viable at this stage.
Iran has since set its own conditions for a ceasefire, including guarantees that the US and Israel will not resume their attacks, reparations for damages and recognition of its authority over the Strait of Hormuz, among others.
In equities, oil prices fell more than 2% overnight, lifting fuel-sensitive stocks. The S&P Composite 1500 Passenger Airlines index has outperformed the broader market.
Locally, the Australian Bureau of Statistics is scheduled to publish the national accounts figures at 11:30am AEDT, while NAB will release its quarterly Business Confidence report today.
