At The Bell — This could be a big week, with Iran’s deputy foreign minister Kazem Gharibabadi now confirming that Iran has agreed to a peace pact with Donald Trump and the U.S. The two countries are lining up a summit to sign a memorandum of understanding on Friday, June 19 over in Switzerland.
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.
Traders are, quite understandably, bullish on the news, with Australian shares now heading for a +0.7% advance Monday morning, to ~8,850 points.
With this deal reportedly complete, it means the Strait of Hormuz should be open for business again. Trump certainly thinks so, at least, and today declared: “Ships of the World, start your engines. Let the oil flow!”
All the way to Friday is a long time, and the U.S. already had to play quick peacemaker after Israel bombed Lebanon, so we’ll see if peace holds.
We can only cross our fingers at this stage, but an end may be in sight.
ASX stocks to watch
No shock then, that Energy exposed stocks are the big watch in Week 25. The “XEJ” index on the bourse closed just above 10,500 points on Friday, and had already been drifting lower as ceasefire rumours spread.
Elsewhere, bourse operator ASX Ltd (ASX:ASX) is trying to settle a deal with ASIC over statements it made about its CHESS replacement project; ASIC believes the claims were “misleading.” ASX is on the hook to pay a $20.5M penalty as well as ASIC’s costs ($3M) should the Federal Court approve the deal.
Vault Minerals (ASX:VAU) says it expects to produce 332,000 to 360,000 ounces of gold in FY26 as it ramps up investment across operations. The gold miner is injecting another $278M capital into its production base.
And, Power Minerals (ASX:PNN) has started drilling at the Morro Do Ferro project over in Brazil after a lengthy build-up through the last few months.
So, too, Evolution Energy (ASX:EV1) at the Chikundo copper system in Tanzania.
Buck and ore
In forex, the Oz dollar is buying US 70.8c today,
Then to commodities, all in the greenback,
Brent Crude has dumped -4%, selling at $83.84/barrel today as Washington and Tehran prepare to unveil their peace deal,
Iron Ore is up +0.3%, at $101.50/tonne in Singapore,
Gold has kept climbing, to $4,309/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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