ASX Preview: Australian Shares to Open Flat as Trump Signals Optimism on Iran Deal Talks; Viva Energy Group Refinery in Geelong on Fire

MT Newswires Live04-16

Australian shares are expected to open flat on Thursday as markets weighed renewed optimism from the Trump administration over a possible Iran deal against escalating threats of tighter sanctions on Iranian oil buyers and ongoing disruptions to shipping through the Strait of Hormuz.

Overnight, the S&P 500 and the Nasdaq Composite rose 0.8% and 1.6%, respectively, while the Dow Jones Industrial Average fell 0.2%.

In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.

In corporate news, A fire erupted at Viva Energy Group's (ASX:VEA) oil refinery in Geelong overnight, and firefighters are still working to bring it under control, multiple media outlets reported Thursday.

Rio Tinto Group (ASX:RIO) commissioned a new alumina conveyor at its BC Works smelter in Kitimat, Canada, the company said on Thursday.

Australia's benchmark index rose 0.1% or 7.9 points to close at 8,978.70 on Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment