Australian shares are poised to fall on Monday as heightened Middle East tensions, including reported drone strikes near a nuclear facility in the United Arab Emirates and US-Iran warnings over escalation, raise fears of disruption to Gulf energy infrastructure and the Strait of Hormuz, pushing oil prices higher.
In the macroeconomy, the Reserve Bank of Australia's final report on Project Acacia is due at 11:30 am Sydney time.
In corporate news, Elders (ASX:ELD) reported Monday fiscal first-half underlying earnings of AU$0.181 per share on revenue of AU$1.77 billion, compared with underlying earnings of AU$0.188 on revenue of AU$1.34 billion a year earlier.
ALS (ASX:ALQ) reported Monday fiscal year 2026 underlying earnings of AU$0.753 per share on revenue of AU$3.32 billion, compared with underlying earnings of AU$0.621 on revenue of AU$3 billion a year earlier.
Australia's benchmark index fell 0.1% or 9.9 points to close at 8,630.80 on May 15.