Market Open: Dawdling start to WK23 as Aussies try to spot next trade catalyst; US-Iran bargain no closer

At The Bell — Australian shares are heading for a very soft rise at open on Monday morning at time of writing, with expectations that the local bourse will add a hair over 15 points when the bell rings in Sydney at 10AM today.

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.

It’s a cagey start to Week 23, with the run-in to the end of the financial year likely a key factor there. So too the RBA meeting next week, on June 9.

While neither should have any huge impacts on the Aussie trading market, there’s still a vibe that the economy is cooling; stats all through this week – job advertisements Monday, building approvals Tuesday, and March quarter GDP on Wednesday – will all give us more precious clues to how that’s unfolding.

Overseas, peace talks between Washington and Tehran will continue to weigh this week, too, as the world’s eyes stay on the Strait of Hormuz.

Trump is trying to stay firm on his “frameworks for a deal,” and he has sent those latest proposals to Iranian officials – whether more external pressures push the U.S. President into a quick bargain remains to be seen.

On Wall Street, everything was last green; Europe has been in the red.

ASX stocks to watch

Now, onto Oz stocks on Monday morning, where big-mover Pro Medicus (ASX:PME) has signed a five-year, $28M contract renewal with Allegheny Health, as well as a fresh seven-year, $16M bargain with TidalHealth.

In mining, Orange Minerals (ASX:OMX) has entered an agreement to divest its controlling share in the Calarie Project in New South Wales. The $10M microcap explorer has been working on “rationalising its asset portfolio” and looking to “realise value from non-core assets” over the last few months.

Elsewhere, Web Travel (ASX:WEB) MD John Guscic has sold ~$6.9M shares, days after the company reported a “worse-than-expected” start to FY27.

And, analysts hiked BHP (ASX:BHP) to a “hold;” Nick Scali (ASX:NCK) to “buy.”

Buck and ore

In forex, the Oz dollar buys US 71.76c.

And to commodities, all in the greenback,

Brent Crude is up to start Week 23, with peace seemingly no closer between the U.S. and Iran today; +2.2% to $93.17 today,

Iron Ore is down a hair, at $105.20 a tonne in Singapore,

Gold up, $4,546/ounce, and,

US natgas futures up, ~$3.35 per gigajoule.

That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.

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