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At The Bell — Australian shares are heading for a Friday boom this morning, some +1.7% stronger in ASX 200 futures after Donald Trump declared a peace deal with Iran is definitely “near” and that “all parties” in the ongoing Middle East conflict had approved a deal that would bring an end to the war.
Hear from all the ASX-listed companies that were at the RIU Resources Round-Up in Sydney, right here on HotCopper.com. Over a dozen video interviews here.
Wall Street rocketed, especially after Trump then told reporters a signing ceremony is already being lined up in Europe for this weekend. The Strait of Hormuz is also expected to reopen around the same time, he claimed.
As always, I’ll believe it when I see it with ol’ Trump – but global markets are certainly happy to take any dovish declarations and run with them today.
Just to quickly run through those equity actions, the S&P 500 is +1.75% stronger, while the Nasdaq has even outstripped that, up +2.5% as Trump’s peace claims come bundled up with enormous SpaceX IPO hype.
Europe has chugged along nicely, too, with London’s FTSE and the wider EU Stoxx 600 advancing +0.5%. The Nikkei has mostly been flat.
Globally, before we hit Oz stocks, I’d also just flag the SpaceX pricing: Elon Musk’s company has set shares to be sold in its initial public offering at $US135.
That’s going to easily be Week 25’s headlining story, we can only imagine.
ASX stocks to watch
Now, onto Aussie stocks proper, where BHP Group (ASX:BHP) is reportedly scouting out “rebel workers” to keep the country’s biggest iron ore hub rolling on through impending union strikes. The bourse king has been offering electricians over $93/hour to cross the line and pick up temp work.
Elsewhere, BPH Energy (ASX:BPH) has told shareholders the Federal Court will rule on its PEP-11 extension rejection on Wednesday, June 17.
Northern Star (ASX:NST) has flatly refused calls for a company sale – led by Elliott Management recently – but will run a review.
And, JB Hi-Fi (ASX:JBH) now has to refund as many as 200 customers after an ACCC investigation that raised concerns the electronics retailer “may have misled consumers with some of the listed promo prices.”
Finally, Bell Potter has rated Falcon Metals (ASX:FAL) a new “speculative buy.”
Buck and ore
In forex, the Oz dollar is back to buying US 70.4c after dropping below the ’70’ mark midway through Week 24 trade,
Then to commodities, all in the greenback,
Brent Crude has crashed -5%, to sell at $88.50/barrel this morning,
Iron Ore is up +0.2%, at $101.65/tonne in Singapore,
Gold has popped back to $4,218/ounce, and,
US natgas futures ~$3 per gigajoule.
That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.
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