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ASX Preview: Australian Shares to Fall as US Strikes on Iran Lift Oil Prices; DPM Metals Reports Higher Q2 Gold Equivalent Production

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Australian shares are poised to fall on Thursday as escalating US military strikes on Iran sent oil prices higher and fueled concerns over renewed geopolitical risks, with investors bracing for potential market volatility from rising energy costs and tensions around the Strait of Hormuz.

Overnight, the S&P 500 and the Dow Jones Industrial Average fell 0.3% and 1.1%, respectively, while the Nasdaq Composite gained 0.2%.

In the macroeconomy, the International Monetary Fund lowered Australia's economic growth estimate for 2026, citing the drag from higher global energy prices and softer global momentum resulting from ongoing geopolitical tensions, according to World Economic Outlook update published late Wednesday.

In corporate news, DPM Metals (ASX:DPM) reported preliminary production of 102,000 gold equivalent ounces contained in concentrate for the second quarter, while sold payable metals in concentrate totaled 87,000 gold equivalent ounces during the quarter.

Telstra Group (ASX:TLS) said overnight work has reduced the occurrence of the subsequent Triple Zero calling error by around 90%, with teams continuing efforts to fully resolve the issue, according to a Thursday statement from a Telstra spokesperson.

Australia's benchmark index fell 0.2% or 18.8 points to close at 8,785.10 on Wednesday.

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