Australian shares are poised to rise on Monday after US and Iranian officials agreed to a peace framework to end their conflict and reopen the Strait of Hormuz, triggering a sharp drop in oil prices and lifting global risk sentiment.
On June 12, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.5%, 0.3%, and 0.7%, respectively.
In the macroeconomy, investors are eyeing the Reserve Bank of Australia's interest rate decision on Tuesday.
In corporate news, Atlas Arteria (ASX:ALX) said IFM Global Infrastructure Fund subsidiary Diamond Infraco 1 has increased its takeover offer to AU$5.10 per security from AU$4.75 and declared it "best and final."
ASX (ASX:ASX) has settled Federal Court proceedings with the Australian Securities and Investments Commission (ASIC) over misleading 2022 statements about its Chess replacement project, admitting a breach of the ASIC Act and agreeing to pay AU$20.5 million in penalties plus AU$3 million in legal costs, subject to court approval.
Telstra Group (ASX:TLS) is in focus as investors weigh its outlook after SpaceX's June 12 listing.
Australia's benchmark index rose nearly 2% or 170.8 points to close at 8,804 on June 12.