ASX SHEDS EARLY GAINS ON MIDDLE EAST FEARS

Australia’s sharemarket gave back most of the morning gains, as investors await fresh developments out of the Middle East conflict.

The benchmark ASX 200 added 7.90 points, or 0.09 per cent, to 8978.70, while the broader All Ordinaries gained 16 points, or 0.17 per cent, to 9181.10.

Australia’s dollar jumped and was buying 71.40 US cents.

On a mixed day of trading, five of the 11 sectors finished higher led by information technology, healthcare and materials sector.

WiseTech shares climbed 3.63 per cent to $39.96, Xero shares jumped 2.62 per cent to $75.10 and Technology One rallied 2.86 per cent to $28.81.

Healthcare juggernaut CSL added 0.98 per cent to $139.44, ResMed jumped 1.52 per cent to $32.70 and Pro Medicus ascended 4.09 per cent to $137.42.

While Australia’s sharemarket closed marginally higher, it initially jumped to 9015.4 points following another strong night on Wall Street.

The S&P 500 and tech heavy Nasdaq added more than 10 per cent each in the past 10 days of trading.

Capital.com senior financial market analyst Kyle Rodda said global sharemarkets reacted positively to peace talks between the US and Iran.

“The overnight rally in equities, of course, driven by a plunge in oil prices, was driven by news that fresh peace talks between the US and Iran are likely to go ahead as the countdown clock on the ceasefire continues to tick,” he said.

But Mr Rodda pointed out risks of a flare up in the conflict remain.

“Superficially, the markets appear to be holding onto hopes rather than anchoring themselves in reality,” he said.

“Reports suggest the US’s blockade-of-the-blockade is holding up well and that means global oil markets remain heavily disrupted and the global economy hanging on the precipice.”

But investors’ moods soured late during Australia’s trading session despite reports that the US and Iran were preparing for further negotiations.

Benchmark brent crude rose 0.8 per cent to $US95.58 ($A133), as US President Donald Trump said talks with Iran could resume in Pakistan over the next two days.

In company news, shares in Virgin jumped 7.23 per cent to $2.52 after the business revealed it had hedged away most of the rising fuel costs.

The business says costs will rise by $30m to $40m over the half-year, while it will reduce domestic flights by one per cent to save on further expenses.

Gold explorer Evolution Mining shares also rallied 9.55 per cent to $14.45 following the announcement of drill results from its Mungair and Cowal sites.

Nufarm shares surged 11.26 per cent to $2.47 following a trading update which showed underlying earnings before interest depreciation and amortisation will fall between $239 and $244m which is 17 per cent higher than the previous year.

Shares in Telix Pharmaceuticals slumped 4.21 per cent to $14.80 after announcing a $US600m ($A840m) convertible note offering, which can be converted in ordinary shares in 2031.

2026-04-15T08:47:55Z