shares fall at open as Westpac sells RAMS loans to Pepper Money, FleetPartners receives takeover bid
The Australian ASX 200 index rose 0.5% as oil prices fell and geopolitical tensions eased following a decision to call off strikes on Iran. Meanwhile, Asian chip manufacturers faced a downturn, contrasting with the resilience of the Australian market.
Why it matters
Market fluctuations in Australia are being driven by global energy prices and investor sentiment regarding AI-related tech stocks.
– 4.11pm , first published at 7.35am Key Posts 6 hrs ago — 4.11PM ASX swings higher as oil falls; Fortescue drops
Alibaba releases AI model that rivals Anthropic
ASX pare earlier losses; FleetPartners soars
Korean stocks drop as chip makers reverse Friday’s record gains
Gold gains as Iran talks ease concerns about US rate rise
Yen jumps after warnings of more intervention
Email LinkedIn Twitter Facebook Copy link
The S & P/ASX 200 closed up 42.5 points, or 0.5 per cent, to 9,019.3, its highest close since Wednesday, after falling by 0.3 per cent at the open. Nine out of 11 sectors were higher.
Australian futures were pointing to a 1 per cent drop on Monday morning before Trump called off planned strikes on Iran, stoking hopes for a peace deal that would lead to the Strait of Hormuz reopening.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in