The ASX200 is set to slide more than half a per cent (0.57%) after Iran directly attacked Israel at the weekend.
The conflict means more pressure on inflation and oil prices as Iran is one of the leading producers.
US markets already took a solid fall in Friday’s session.
The losses expected on the ASX200 today would add to the market’s losses of 1.6 per cent last week.
In stocks to watch this morning, drilling services company Boart Longyear’s (ASX:BLY) subsidiary GlobalTech is in voluntary administration having not met a Federal Court ruling that it pay $7.96 million to mining tech company, Imdex (ASX:IMD) over an intellectual property dispute. It’s a complex one, given that Boart Longyear delisted last week after being acquired by private American capital fund.
And Macro Metals (ASX:M4M) has decided not to proceed with the acquisition of 85 per cent of the lithium rights in the Aurora Energy Metals (ASX:1AE) namesake project in the US. Instead, it’ll continue to focus on its iron ore projects in Western Australia.
One Australian dollar has fallen below US65 cents now (64.6c). Bitcoin dropped 5 per cent to below US$64,000 yesterday, following 7 per cent falls on Saturday as investors shied away from risk with Iran’s Israel attack.
Copper has gained more than 2 per cent to US$4.35 a pound.
Gold has been trading around US$2367.70; brent crude has been around US$90.5 a barrel; iron ore has been at US$106.05 a tonne and natural gas has been at US$1.77 per million British thermal units.