The US stock market hit a record Wednesday after adding to its two-week rally built on hopes the war with Iran won't create a worst-case scenario for the global economy.
Australia's share market has pared early gains for a relatively flat finish after hopes of easing US-Iran tensions came up against weakness in some of Australia's largest companies.
The Nasdaq has climbed two per cent while the S&P 500 finished up one per cent and near its record closing high on increasing optimism about the prospects for a Middle East resolution.
China has lifted bans on procurement of the key steelmaking ingredient from mining giant BHP Group, sources tell Reuters, ending a months-long dispute following a visit by the miner's top executives to its largest customer.
The local share market has rebounded as investors cling to hopes the US and Iran might soon return to the negotiating table rather than resume their war.
The S&P 500 and the Nasdaq composite indexes have rallied more than one per cent as investors appeared hopeful that a resolution to the Middle East war could be found.
The Australian share market has fallen after Middle East peace talks broke down at the weekend and the United States said it would begin its own blockade of the Strait of Hormuz.
Australia has not been asked to help stop ships travelling through the critical Middle East waterway and doesn't expect to be, the prime minister says.
Australia's share market has notched its best week since October 2022, despite slipping ahead of key US-Iran ceasefire talks and with little sign Iran's Hormuz Strait blockade is easing.
US stocks rose Thursday, even though oil prices did too, as financial markets moved more modestly a day after surging on optimism about a ceasefire in the war with Iran.
Australia's share market has edged slightly higher, as a fragile ceasefire between the US and Iran hangs in the balance and a key oil transit route remains restricted.
Australia has called on Israel to end its attacks on Lebanon after a ceasefire deal was struck with Iran, warning that any ongoing fighting puts the flow of oil through the Strait of Hormuz at risk.
Australia's share market is trading at its highest level since early March after the US and Iran struck a two-week ceasefire, easing soaring oil prices and boosting investor confidence.
Iran's foreign minister says ships will be allowed to pass through the Strait of Hormuz over the next two weeks under co-ordination from Iran's military.
The local share market has backed off from an early rally, with oil prices inching higher before a US ultimatum to Iran to make a deal or face further attacks on civilian infrastructure.
The war in the Middle East will lead to higher inflation and slower global growth, says the head of the International Monetary Fund ahead of next week's global forecast for the world economy.
Aussie shares have tumbled and oil is surging, after US President Donald Trump threatened to send Iran "back to the Stone Ages" while declaring his military campaign nearly complete.
