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Australian shares are heading into a fifth straight day of losses, with Week 26 still trading red after Trump ordered U.S. stealth bombers to raid three Iranian nuclear facilities over the weekend – and Israel’s missile strikes continue.
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Futures are suggesting the ASX 200 could dip as much as -0.57% at open on Monday as global traders come to terms with the U.S. President’s latest stance.
(Foreign Minister Penny Wong also today said our gov’t supports the strikes.)
While Wall Street hasn’t had a chance to open in Week 26 yet, the major U.S. indexes mostly closed down between -0.2% and -0.5% lower.
The FTSE will open similarly: A dour -0.2% start is projected for the U.K. bourse.
In Shanghai, the week is starting just barely down with a -0.07% dip.
It’s under this global shadow that we’ll see a number of companies join the ASX this week, with Virgin Australia, Greatland Resources, Infragreen Group, and La Trobe Private Credit Fund all on the float docket to Friday.
On the HotCopper forums, Red Mountain Mining (ASX:RMX) is shining hope through the global gloom early after recovering multiple gold nuggets at Kiabye.
And, FireFly Metals (ASX:FFM) wrapped up its 33M share-for-$32M sale in Canada.
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Looking at forex, the Aussie dollar is buying 64.3 US cents.
To commodities, which are in the greenback,
Iron Ore is back up 1.1% to start the week, to $93.70 a tonne in Singapore,
Brent Crude is trading as much as 3% higher at $79.54,
Gold is at $3,385 per ounce, and,
US natgas futures are at $3.89 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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