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ASX Preview: Australian Shares Set to Fall on US-Iran Tensions; Metcash Posts Lower Fiscal Year 2026 Underlying Earnings, Higher Revenue

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Australian shares are poised to fall on Monday amid renewed US-Iran tensions, including threats to resume conflict and reports that the Strait of Hormuz has been closed again, heightening fears of oil supply disruptions.

In the macroeconomy, investors are eyeing Australia's upcoming consumer price index report on Wednesday.

In corporate news, Metcash (ASX:MTS) reported Monday fiscal 2026 underlying earnings of AU$0.245 per share on revenue of AU$17.35 billion, compared with earnings of AU$0.251 on revenue of AU$17.32 billion a year earlier.

Atlas Arteria (ASX:ALX) said IFM Group increased its stake in the company to 42.01% on June 19, up from 39.61%.

Australia's benchmark index fell 0.9% or 82.4 points to close at 8,828.70 on June 19.

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