-- Australian shares slid on Monday's close as the US moved to blockade the critical Strait of Hormuz, sending oil prices up.
The S&P/ASX 200 Index declined 0.39% or 34.60 points to close at 8,926.
The US Central Command said the US will begin implementing a blockade of all maritime traffic entering and leaving Iranian ports after peace talks between Iran and the US broke down over the weekend.
A report from The Wall Street Journal said that Trump and his advisers were considering limited strikes on Iran. Brent crude oil futures spiked around 7% to reach $102.17 per barrel early on Monday. Gold fell 0.7% to $4,714 per ounce.
In company news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire all its shares by way of a scheme of arrangement at AU$0.90 per share. Its shares closed up 16%.
a2 Milk (NZE:ATM, ASX:A2M) said its infant milk formula business in China is experiencing "temporary in-market product availability issues" that will likely impact the company's performance in fiscal 2026, resulting in a cut to guidance. Its shares fell 12% on market close.
Lastly, EML Payments (ASX:EML) revised its fiscal-year underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance to a range of AU$47 million to AU$50 million from AU$58 million to AU$60 million. Its shares plunged 34% on market close, earlier reaching an over 12-year low point.