Australian shares are poised to rise on Friday, mirroring gains on Wall Street, after US President Donald Trump said the US had cancelled planned strikes against Iran, and that the US and Iran could sign a peace agreement as soon as this weekend.
Overnight, the S&P 500 and the Dow Jones Industrial Average gained nearly 2%, while the the Nasdaq Composite rose 2.5%. Meanwhile, Brent oil futures fell below $89 per barrel.
In the macroeconomy, investors are eyeing the release of the labor account report at 11:30 am Sydney time.
In corporate news, Bathurst Resources (ASX:BRL) said a New Zealand court has dismissed Talley's Group's attempt to bring a derivative lawsuit involving Bathurst. Talley's first initiated the dispute in 2024 by filing a statement of claim against Bathurst, its directors, and related parties, alleging prejudiced shareholder conduct and misleading representations, and seeking damages.
Ebos Group (ASX:EBO, NZE:EBO) unit Pet Care Distributors' proposed deal to acquire Paringa Pet Foods is under a phase one review by the Australian Competition and Consumer Commission.
Australia's benchmark index shed 0.2% or 20.1 points to close at 8,633.20 on Thursday.