ASX opens flat as markets anticipate second round of peace talks
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More news: Australian shares opened marginally higher as markets anticipate a potential second round of talks between the US and Iran in the coming days.
The benchmark ASX 200 index was up by 3.3 points, or 0.04%, to 8,982 at 10:40am AEST. Eight of the 11 sectoral indices opened in the green.
Tech (+5.57%) was the strongest performing sector for a third consecutive session, supported by a rally in Life360 (+9.81%), WiseTch (+7.80%), Siteminder (+7.76%) and Zip (+6.25%).
Outside of tech stocks, Ora Banda Mining (+7.60%) Pinnacle Investments (+6.43%) and Pro Medicus (+6.69%) were among the best performers across the ASX 200.
Elsewhere, mining (-1.09%) was the weakest performing sector, weighed down by Newmont (-4.75%), Greatland Resources (-3.14%), Westgold Resources (-2.74%) and Evolution Mining (-2.14%).
Outside of mining stocks, Reece (-4.76%), James Hardie (-3.96%), Reliance Worldwide (-3.12%) and Resmed (-1.98%) were among the worst performers across the ASX 200.
On the data front, the Australian Bureau of Statistics is scheduled to publish labour force data for March at 11:30am AEST.
Australian shares to rise after S&P 500 hit first record since the Iran war began
The news: The Australian sharemarket is set to open higher after Wall Street closed at record highs on Wednesday as optimism over potential US-Iran peace talks and positive corporate earnings had lifted investor sentiment.
The numbers: Updated at 7:49am AEST:
- ASX futures: up 31 points to 9,013 points
- Wall Street: Dow Jones down 0.15%, S&P 500 up 0.80%, Nasdaq up 1.59%
- Europe: FTSE 100 down 0.47%, CAC 40 down 0.64%, DAX up 0.09%
- Spot gold: down 1.07% to USD4,790.02 per ounce
- Oil prices: Brent down 0.04% to USD94.75/barrel, US WTI down 0.15% to USD91.41/bbl
- AUD: up 0.60% at 71.68 US cents
- Bitcoin: up 0.83% to USD74,826
The context: The S&P 500 notched its first record close since January, pushing the benchmark above 7,000, while the Nasdaq rose 1.6% to extend its 11th consecutive gain. The Dow Jones edged 0.1% lower.
The rally was sparked by optimism over potential peace talks from the US and Iran after White House press secretary Karoline Leavitt said discussions on a second round of talks in Pakistan were “ongoing and productive”, while noting that reports the US had formally requested a ceasefire extension were “not true at this moment”.
Brent crude rose 0.1% to near USD95 a barrel as the US proceeded with a naval blockade of the Strait of Hormuz.
In equities, shares in Bank of America rallied after the company reported a 17% year-on-year increase in net profit, while Morgan Stanley rose after posting quarterly net income of USD5.6 billion ($7.84 billion), up from USD4.3 billion a year ago.
Locally, the Australian Bureau of Statistics is scheduled to publish labour force data for March at 11:30am AEST.
