ASX 200 Live Today - Monday, 15th June
The S&P/ASX 200 is set to rise after US and Iran said they have officially reached a deal to reopen the Strait of Hormuz.
Today’s ASX 200 Updates
Welcome to our live ASX coverage for Monday, June 15. Expect a high volume of posts pre-market and more periodic updates throughout the day. We'll be wrapping the blog up around 2:00 pm AEST. Let us know how we can make it even better.
ASX 200 rallies, BHP at all-time highs
[2:00 pm] That's a wrap. The ASX 200 is trading 1.34% higher, taking gains over the past two sessions to 3.3% and pushing the index to its highest level since 22 April. Materials is the standout, up 3.8% and now sitting just 1% below its 3 June record high. BHP (+3.1%) is on track to close at fresh all-time highs, though heavyweight peers including Rio Tinto, South32 and PLS Group still have ground to make up.
Commodity prices are broadly higher in response to the US-Iran peace deal, with copper up 1.1%, gold up 2.5%, palladium up 3.1% and nickel up 1.0%. Tech (+1.7%) is moving in line with Nasdaq futures (+2.0%), while yield-sensitive sectors are also bid, with Real Estate up 0.90% and Financials up 1.2%.
While it doesn't feel like the US-Iran conflict is truly over, the combination of lower Aussie yields (breaking down to roughly three-month lows), lower oil prices, a softer VIX and soaring commodity prices is lifting equities. The same mix is weighing on war beneficiaries, with Energy down 5.1%, alongside a small rotation out of defensives as Utilities (-1.3%), Telcos (-1.2%) and Staples (-0.90%) all trade lower.
Australian yields dip to three-month low
[1:37 pm] The Australian 10-year bond yield is down another 2 bps today, and down 18 bps in the last five sessions to a three-month low of 4.87%.
Australia 10-year bond yield (Source: TradingView)
The rate-sensitive 2-year yield is also down by a similar amount, 2 bps today and 21 bps in the last five sessions to the lowest since 11 March.
Gold extends gains
[1:10 pm] Gold has continued to climb intraday, currently up 2.48% to US$4,323/oz. The All Ords Gold index was up 8.0% in early trade, now up 8.7%.
Ticker | Company | % Chg | Price | YTD % |
|---|---|---|---|---|
OBM | Ora Banda Mining | 16.3% | $1.29 | -16.0% |
VAU | Vault Minerals | 15.5% | $4.63 | -14.9% |
RRL | Regis Resources | 14.3% | $6.69 | -11.1% |
CYL | Catalyst Metals | 11.8% | $5.61 | -24.0% |
BGL | Bellevue Gold | 11.7% | $1.50 | -11.1% |
MEK | Meeka Metals | 10.9% | $0.12 | -54.8% |
CMM | Capricorn Metals | 10.3% | $13.26 | -5.3% |
BC8 | Black Cat Syndicate | 9.4% | $1.05 | -14.0% |
EMR | Emerald Resources | 9.4% | $5.87 | -6.6% |
PNR | Pantoro Gold | 9.3% | $2.76 | -43.8% |
EVN | Evolution Mining | 8.9% | $12.80 | 1.8% |
PRU | Perseus Mining | 8.9% | $5.32 | -3.5% |
GMD | Genesis Minerals | 8.6% | $5.78 | -19.3% |
SBM | St. Barbara | 8.3% | $0.59 | 2.6% |
AMI | Aurelia Metals | 7.6% | $0.31 | 27.3% |
WGX | Westgold Resources | 7.2% | $5.11 | -19.0% |
NST | Northern Star Resources | 7.1% | $20.62 | -16.0% |
NEM | Newmont | 6.6% | $146.89 | -2.1% |
RSG | Resolute Mining | 6.2% | $1.11 | -9.4% |
ALK | Alkane Resources | 6.0% | $1.50 | 12.8% |
RMS | Ramelius Resources | 5.8% | $3.19 | -22.1% |
Shipowners cautious on Hormuz reopening despite US-Iran deal
[1:07 pm] The maritime industry is treating Friday's planned reopening with scepticism after months of false starts, with security, mines and insurance cover still unresolved.
Trump has declared the Strait of Hormuz will reopen on Friday when the US-Iran agreement is signed, but early Monday transit activity was limited to one LNG tanker, the Disha, testing the route
Nearly 600 vessels remain stuck inside the Persian Gulf primed to exit, with more than 300 empty tankers waiting in the Gulf of Oman to enter once access is restored
Crude tankers stuck inside the Gulf number 98, with another 88 carriers lifting dirty-petroleum products, against pre-war daily transits averaging 135 tankers
Security remains the key overhang after prior purported deals ended in Iranian forces firing at or seizing vessels, with uncertainty over mines in the strait making routes and insurance cover critical
Practical impediments including barnacle removal from hulls and competition for the narrow corridor will slow the ramp-up even if transits resume
Source: Bloomberg
Vault and Develop Global screen as front-runners for ASX 100/200 inclusion
[12:08 pm] Morgan Stanley flags passive inflows into replacement candidates as Qube Holdings tracks toward scheme completion and index deletion later this month.
QUB to be removed from the S&P/ASX 100 and 200 on scheme effective date, with the stock expected to be suspended from trading from the close on 19 June 2026
Vault Minerals (VAU, rank 90) leads the ASX 100 replacement ranking, followed by Ventia (VNT, 93), Liontown (LTR, 95), Codan (CDA, 98) and West African Resources (WAF, 101)
Develop Global (DVP, rank 189) is the top candidate for ASX 200 inclusion, ahead of Elders (ELS, 194), EQ Resources (EQR, 197), Service Stream (SSM, 200) and Smartgroup (SIQ, 202)
DVP inclusion implies ~$74.5m of passive demand, or roughly 11.9m shares, from ASX 200 index trackers
Accent rallies on takeover offer
[12:05 pm] Shares in Accent Group opened 5.3% higher this morning, now up 12.6% to 73 cents. This is despite its largest shareholder, Frasers Group, offering an on-market cash offer at a nil discount of 65 cents.
Fraser stressed the need to increase its ownership of Accent, to "achieve greater influence" over the company's strategic direction to protect its investment.
Frasers currently holds 22.9% relevant interest and voting power
Strategic rationale targets at least 26%, which under the April 2025 Subscription Agreement triggers a right to request an additional board nominee
Fraser flagged poor capital allocation (1H26 net cash outflows, yet paid a dividend), two FY26 EBIT downgrades within nine months, and a potential goodwill impairment
Accent's board has replied to the offer, urging shareholders to take no action. They noted Frasers latest on-market purchase (3-5 Feb) was at an average of 90 cents, materially above the offer price.
Top ASX 200 gainers and losers
[11:59 am] Gold and copper miners top the leaderboard, while Virgin also rallies thanks to a sharp pullback in oil prices. Meanwhile, recent outperformers like energy, refiners, staples and coal stocks trade broadly lower.
Ticker | Company | % Chg | Price |
|---|---|---|---|
VAU | Vault Minerals | 15.21% | $4.62 |
RRL | Regis Resources | 14.36% | $6.69 |
VGN | Virgin Australia | 12.30% | $2.88 |
OBM | Ora Banda Mining | 11.95% | $1.24 |
GGP | Greatland Resources | 11.48% | $13.65 |
PDI | Predictive Discovery | 10.83% | $0.87 |
BGL | Bellevue Gold | 9.81% | $1.48 |
CSC | Capstone Copper Corp | 9.77% | $15.62 |
CMM | Capricorn Metals | 9.73% | $13.19 |
EVN | Evolution Mining | 9.02% | $12.81 |
Ticker | Company | % Chg | Price |
|---|---|---|---|
VEA | Viva Energy Group | -7.78% | $2.08 |
NHC | New Hope Corporation | -5.88% | $5.69 |
ALD | Ampol | -5.87% | $34.31 |
STO | Santos | -5.14% | $7.66 |
YAL | Yancoal Australia | -4.73% | $6.24 |
WHC | Whitehaven Coal | -4.17% | $8.51 |
WDS | Woodside Energy | -3.07% | $30.27 |
EOS | Electro Optic Systems | -2.68% | $9.08 |
COL | Coles Group | -2.62% | $23.38 |
BPT | Beach Energy | -2.60% | $1.05 |
ASX 200 nears two-month high
[10:56 am] The ASX 200 is up 1.4% in early trade, now up 3.5% in the last two sessions to the highest since 22 April. The two-day rally has flipped year-to-date gains back into positive territory, now up 2.43%. Materials lead the advance, now up 8.2% in the last three sessions. This follows a four-day losing streak, where the index tumbled 8.6%. Breadth is relatively solid today, with 147 constituents trading higher (74%). Laggards mostly include recent winners, including Staples, Utilities and Telcos.
S&P/ASX 200 sectors (Source: Markets)
Gold stocks bounce for a second day
[10:48 am] The All Ords Gold index is up 8.0%, now up 14.3% in the last two sessions. Gold prices spiked this morning in response to the US-Iran peace deal, up 1.76% to US$4,293/oz. Despite the solid two-day bounce, the index is still down 12% year-to-date.
Ticker | Company | % Chg | Price | YTD % |
|---|---|---|---|---|
VAU | Vault Minerals | 14.1% | $4.58 | -15.9% |
RRL | Regis Resources | 13.0% | $6.61 | -12.1% |
CYL | Catalyst Metals | 9.6% | $5.50 | -25.5% |
OBM | Ora Banda Mining | 9.2% | $1.21 | -21.1% |
EVN | Evolution Mining | 8.9% | $12.79 | 1.8% |
BGL | Bellevue Gold | 8.3% | $1.46 | -13.8% |
CMM | Capricorn Metals | 8.3% | $13.02 | -7.0% |
PRU | Perseus Mining | 8.1% | $5.28 | -4.3% |
GMD | Genesis Minerals | 7.9% | $5.74 | -19.8% |
EMR | Emerald Resources | 7.6% | $5.77 | -8.2% |
PNR | Pantoro Gold | 7.5% | $2.71 | -44.7% |
WGX | Westgold Resources | 6.8% | $5.09 | -19.3% |
NEM | Newmont | 6.5% | $146.80 | -2.2% |
SBM | St. Barbara | 6.4% | $0.58 | 0.9% |
MEK | Meeka Metals | 6.4% | $0.12 | -56.7% |
BC8 | Black Cat Syndicate | 6.3% | $1.02 | -16.5% |
RMS | Ramelius Resources | 6.1% | $3.20 | -21.9% |
NST | Northern Star Resources | 6.1% | $20.44 | -16.8% |
RSG | Resolute Mining | 5.5% | $1.10 | -10.0% |
ALK | Alkane Resources | 5.3% | $1.49 | 12.0% |
AMI | Aurelia Metals | 4.1% | $0.30 | 23.3% |
Copper stocks broadly higher
[10:46 am] Copper names are trading broadly higher after copper prices gained 1.3% overnight and up a further 0.9% on Monday to US$6.57/lb.
Ticker | Company | % Chg | Price | YTD % |
|---|---|---|---|---|
CSC | Capstone Copper | 8.6% | $15.45 | 1.9% |
FFM | Firefly Metals | 8.1% | $2.06 | 0.0% |
CYM | Cyprium Metals | 8.0% | $0.41 | -23.5% |
AIS | Aeris Resources | 6.7% | $0.40 | -33.3% |
29M | 29Metals | 5.9% | $0.27 | -48.7% |
SFR | Sandfire Resources | 5.3% | $20.89 | 16.3% |
HCH | Hot Chili | 3.1% | $1.97 | 41.4% |
BHP | BHP Group | 3.1% | $64.87 | 42.5% |
MC2 | Marimaca Copper | 2.6% | $7.90 | -36.8% |
AR1 | Austral Resources Australia | 2.5% | $0.08 | 43.9% |
RIO | Rio Tinto | 1.9% | $187.84 | 27.9% |
HGO | Hillgrove Resources | 0.0% | $0.05 | 6.2% |
CPM | Cooper Metals | -3.3% | $0.06 | 3.6% |
Banks broadly higher
[10:41 am] ASX 200 Financials up 1.2% in early trade, now up 2.9% in the last two sessions and almost back to breakeven for the year.
Ticker | Company | % Chg | Price | YTD % |
|---|---|---|---|---|
NAB | National Australia Bank | 2.9% | $37.57 | -11.1% |
JDO | Judo Capital | 2.2% | $1.47 | -17.6% |
BEN | Bendigo & Adelaide Bank | 2.2% | $10.57 | -0.2% |
ANZ | ANZ Group | 1.7% | $34.75 | -4.7% |
WBC | Westpac | 1.5% | $35.54 | -7.7% |
CBA | Commonwealth Bank | 1.5% | $161.87 | 0.8% |
BOQ | Bank Of Queensland | 1.1% | $6.31 | -3.8% |
MQG | Macquarie Group | 0.9% | $244.71 | 20.5% |
S&P/ASX 200 Financials Index (Source: TradingView)
SCEE raises $165m, lifts FY26 EBITDA guide, flags FY27 step-up
[10:02 am] Southern Cross Electrical Engineering is raising up to $165 million at $3.85-4.00 per share, after announcing over $150 million in new work awards and upgraded earnings guidance.
$150m placement fully underwritten at a $3.85 floor, plus a non-underwritten $15m SPP, pricing range $3.85-4.00 (up to 4.2% discount to the $4.02 last close at the floor)
FY26 underlying EBITDA guide lifted to at least $75m, from prior at least $72m
FY27 EBITDA guided to at least $100m, up 33% year-on-year
Secured $150m+ in new work awards, including initial electrical and communications works for Multiplex at NextDC S4 Data Centre and a Trivantage switchboard order from a major data centre operator
Term sheet to lift bank guarantee facility to $100m (from $75m), add a new $50m revolving credit facility for working capital, and a new $50m acquisition facility
A fairly moderate cap raise relative to SCEE's current market cap of ~$1.07 billion. Bell Potter (Feb-26) was expecting FY27 EBITDA growth of 9.1% year-on-year, so new guidance represents a massive increase relative to analyst expectations. Definitely one to watch when it resumes trading.
Company page: Southern Cross Electrical Engineering (SXE)
Frasers launches unconditional cash bid for Accent, at nil premium
[9:53 am] Frasers Group, already Accent's largest holder at.22.9%, has launched an unconditional on-market cash offer at $0.65 per share. This represents a zero premium to the stock's last close, with Fraser citing dissatisfaction with strategy, capital allocation and governance.
Offer at $0.65 per share in cash, equal to the last close on 12 June, implying nil premium
Frasers currently holds 22.9% relevant interest and voting power
Unconditional on-market offer, Bidder's Broker will stand in the market to accept shares at 65 cents
Strategic rationale targets at least 26%, which under the April 2025 Subscription Agreement triggers a right to request an additional board nominee
Capital allocation criticism: H1 FY26 saw a c.$5m net cash outflow before financing and dividends, yet Accent declared a 3.25c interim dividend ($19.5m) despite a 40.5% year-on-year NPAT decline, with bank loans up $32m year-on-year to $172m
Cites two FY26 EBIT downgrades within nine months, from an implied c.$120m in August 2025 to $79.5-84.5m in May 2026, and questions the credibility of the 2030 Strategic Growth Plan's $1.9bn+ sales target (c.5% CAGR) and 9%+ EBIT margin against negative 1.0% LFLs in the first 18 weeks of H2 FY26
Flags goodwill impairment risk with only 45bps of headroom on $341m of goodwill, and references the 82% vote against the FY25 remuneration report plus the ongoing ASIC insider trading investigation involving key personnel including the CEO
Company page: Accent Group (AX1)
AMP completes $150 million on-market buyback
[9:50 am] AMP has completed the $150 million on-market share buyback announced on 27 March 2026, with an update on capital management due at the 1H26 result.
Bought back ~99m ordinary shares at an average price of ~$1.52
Buyback commenced on 17 April 2026
Capital strategy remains focused on returning surplus capital via dividends and buybacks
Company page: AMP Limited (AMP)
Perseus completes $100 million buyback, lifts programme by $50 million
[9:48 am] Perseus Mining has completed its $100 million on-market buyback announced in August 2025 and the board has approved a $50 million extension, taking the active programme to $150 million.
Completed buyback purchased 19.1m shares at an average $5.24
Programme upsized by $50m to $150m total
Cumulative across buybacks since inception in August 2024, Perseus has acquired 45.1m shares for $183.5m at an average $4.07, equivalent to 3.3% of shares on issue at the August 2024 notification
Board cites balance sheet strength and market-leading free cash flow from current operations, while continuing to fund the organic growth pipeline
Company page: Perseus Mining (PRU)
Macquarie tweaks gold and lithium calls
[9:31 am] Macquarie has refreshed its ratings across the gold and lithium space, upgrading five names while trimming most gold targets.
Evolution Mining upgraded to Outperform from Neutral; target down to $13 from $14
Greatland Resources (GGP.LN) upgraded to Outperform from Neutral; target down to 730p from 780p
Elevra Lithium (ELV) upgraded to Outperform from Neutral; target up to $14.50 from $13.50
Liontown (LTR) upgraded to Outperform from Neutral; target up to $2.30 from $2.20
Vicinity Centres flags chairman succession, Allaway to replace Gerber
[9:23 am] Vicinity Centres has announced Trevor Gerber will retire as Chairman at the 28 October 2026 AGM, with Patrick Allaway appointed as Non-executive Director and Chairman-elect, effective 15 June 2026.
Gerber retiring after 11 years on the board, having served as Chairman since 2019
Allaway joins the board effective 15 June 2026 and will succeed Gerber at the conclusion of the AGM, subject to securityholder election
Tenure included steering Vicinity through COVID-19 and the repositioning of the portfolio toward premium, "fortress-style" retail assets
Company page: Vicinity Centres (VCX)
Develop Global appoints interim CFO
[9:22 am] Develop Global has appointed Felicity Hughes as Interim CFO, effective from the 1 July 2026 resignation of Ben MacKinnon.
Hughes brings 25 years of senior finance experience in resources, most recently as Director & Regional CFO at Newmont, and previously served as Vice President on the Chamber of Minerals and Energy of WA Executive Committee and Advisory Board.
Company page: Develop Global (DVP)
ASX admits misleading conduct on CHESS, faces $20.5m ASIC penalty
[9:11 am] ASX has admitted misleading conduct relating to its 10 February 2022 CHESS replacement project announcement, with ASIC seeking a $20.5 million penalty plus costs, subject to Federal Court approval.
Proposed penalty of $20.5m plus $3m towards ASIC's costs, subject to Federal Court approval
ASX admits that as at 21 December 2021 the CHESS replacement was not on its critical path to an April 2023 go-live and needed to return to it
Between that date and the 10 February 2022 announcement, the project was internally classified "red", flagging significant unresolved issues or risks
Industry test environments opened, or were planned to open, with reduced scope and performance, with timelines for incomplete work pushed out
Company page: ASX Limited (ASX)
Aussie Broadband completes AGL Telco buy, EBITDA guided to mid-range
[8:59 am] Aussie Broadband has closed its AGL Telco acquisition alongside the Nexgen purchase and Digital Sense divestment flagged in February, and reaffirmed FY guidance in line with consensus.
FY26 underlying EBITDA guided to the middle of the $162-167m range vs $164.0m ests (in line)
FY26 capex at the upper end of the previously guided $55-60m range
Added c.28,000 net connections in the five months to 31 May, c.67,000 in the FYTD
Surpassed 1m broadband connections in mid-May
Completed AGL Telco acquisition plus the Nexgen acquisition and Digital Sense Hosting divestment announced in February 2026
Company page: Aussie Broadband (ABB)
GPT acquires Sunshine Plaza, Macarthur Square stakes for $1.19bn
[8:56 am] GPT's Wholesale Shopping Centre Fund (GWSCF) will buy 50% interests in Sunshine Plaza and Macarthur Square from Lendlease's APPF Retail, deploying recent equity proceeds and existing debt capacity.
Sunshine Plaza 50% acquired for $622m, Macarthur Square 50% for $568m, $1.19bn combined
Post-completion, GPT and GWSCF will each hold 50% of Sunshine Plaza, while GWSCF will own 100% of Macarthur Square
Funded via proceeds from GWSCF's recent oversubscribed equity raise plus available debt capacity
Company page: GPT Group (GPT)
Transurban opens M7-M12 interchange, exits Canada's A25
[8:55 am] Transurban delivered a busy operational update with the M7-M12 Integration Project open to traffic, a full exit from its Montreal A25 concession, and broadly flat May group traffic.
Sydney traffic +0.1% y/y in May, Brisbane -3.2%, Greater Washington Area +2.4%
M7-M12 Interchange opened to traffic on 14 June, with the widening expected to add capacity of up to 30,000 vehicles per day
Agreed sale of remaining 50% interest in Montreal's A25 concession to La Caisse for total consideration of C$280m ($283m)
Sale price broadly in line with the March 2023 50% divestment (adjusted for distributions) and the asset's carrying value
Company page: Transurban Group (TCL)
oOh!media in play with three PE suitors, indicative bids at $1.60
[8:54 am] oOh!media has received indicative proposals from PEP, ISQ and Oaktree, with some pitched at $1.60 per share, a 16% premium to the last close of $1.38.
Multiple indicative bids received after a three-week limited due diligence period, with a number at $1.60/share
$1.60 implies a 16% premium to the $1.38 last close
Board to grant further due diligence access to the three parties, expected to take up to six weeks
Company page: oOh!media (OML)
IFM lifts Atlas Arteria bid to $5.10, declares best and final
[8:52 am] IFM has raised its takeover offer for Atlas Arteria to $5.10 per share, a 7% bump from the prior $4.75, and declared the new price best and final after the board rejected the earlier proposal on 2 June.
New offer of $5.10 per share, up 7% from $4.75 (prior implied value $5.08)
Offer declared unconditional other than no prescribed occurrences, open until 25 June unless extended
IFM argues the price implies a Chicago Skyway valuation in line with the 2022 acquisition cost, and labels the board's asset-sale value claims "disingenuous"
Bidder flags risk of a material share price decline if the offer lapses, framing the cash as certainty versus standalone execution risk
Follows Atlas Arteria board's 2 June rejection of the prior $4.75 bid as too low, opportunistic and highly conditional, with directors continuing to recommend holders reject
Company page: Atlas Arteria (ALX)
Gold miners ditch safe-haven script, investors rotate out
[8:50 am] Bloomberg reports hedge funds and asset managers are cutting exposure to gold miners after the group has slumped through the Iran war, defying their traditional safe-haven role.
NYSE gold miners index down 31% since end-February vs S&P 500 up 8%, with miners falling on conflict escalation and rallying on de-escalation, the inverse of typical haven behaviour
Tuttle Capital cut gold and silver stock exposure to 5% from c.15% pre-war, rotating into energy and utilities under a "high asset, low obsolescence" AI-resilient framework
VanEck Gold Miners ETF has seen three consecutive months of outflows after a year of inflows, with the prior rally providing easy liquidity to exit
Backdrop is higher energy input costs and renewed inflation fears that could keep the Fed on hold or push hikes, a negative for non-yield-bearing gold
Sets up against an extraordinary 2025 run where gold rose 65% and the NYSE miners index gained 155%, with Newmont, Barrick and Agnico Eagle each up at least 116%
Source: Bloomberg
SpaceX surges 19% in record-setting Nasdaq debut
[8:48 am] SpaceX closed up 19% on its first day of trading at a $2.1 trillion market cap after raising $75 billion in the largest IPO ever, with shares rallying further after hours.
Opened at $150 vs $135 IPO price, closed at $160.95, traded as high as $176.52, with after-hours adding another ~$80bn to take market cap to $2.2tn
Over 500m shares traded on debut, approaching Facebook's ~580m first-day volume in 2012
Musk flagged use of proceeds for a "significant growth phase" including 100,000+ satellite constellation and AI data centres in space
Starlink remains the only profitable business, while SpaceX has accumulated $41.3bn in total losses since 2002, and xAI/X (acquired February 2026) is now bundled in
Underwriters set to collect ~$500m in fees, Musk becomes the world's first trillionaire on combined SpaceX and Tesla stakes
June US consumer sentiment beats, inflation expectations ease
[8:47 am] Preliminary June University of Michigan consumer sentiment rebounded from May's record low as gasoline prices retreated, with inflation expectations also moderating.
Headline sentiment 48.9 vs 46.0 ests and May's final 44.8 record low
Current Conditions Index up to 48.4 from 45.8, Expectations Index up to 49.3 from 44.1
Year-ahead inflation expectations eased to 4.6% from 4.8%, long-run down to 3.4% from 3.9%
Lower-income cohorts drove the bounce, consistent with gasoline's larger budget share, while personal finances and business conditions assessments also improved off subdued levels
US-Iran deal to reopen Strait of Hormuz, oil tumbles
[8:42 am] The US and Iran have reached an agreement to reopen the Strait of Hormuz and begin nuclear talks, ending a war that disrupted global energy markets.
Brent down 2.6% to US$84, the lowest in over three months
Risk-on FX response with the Aussie leading G10 gains, up around 0.5%
Both sides will end competing blockades of Hormuz, agree to non-aggression and start negotiations on Iran's nuclear program, with Iran getting relief from sanctions on overseas oil sales
Memorandum of understanding to be officially signed on June 19, with text published thereafter
Key risks remain on Israel's position after fresh strikes on Lebanon, plus domestic blowback from Iran hawks given unresolved questions on nuclear and ballistic missile capability
Source: Bloomberg
Good morning!
[8:36 am] ASX 200 futures are up 39 pts (+0.44%)
The overnight session in a nutshell:
US benchmarks finished higher last Friday, with strong breadth as US-Iran peace deal optimism lifted sentiment
SpaceX delivered the largest IPO in history, closing up 19% on debut and making Elon Musk the world's first trillionaire
Brent fell 2.6% overnight and down a further 2.8% this morning to US$84.28
