Australian shares are poised to rise on Friday as oil prices eased from earlier four-year highs amid volatile trading driven by escalating US-Iran tensions and fears over potential disruptions to Middle East crude supplies.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1%, 0.9%, and 1.6%, respectively.
In the macroeconomy, the Australian manufacturing sector returned to modest growth in April, though the improvement masked growing strain from Middle East-driven supply chain disruptions, surging fuel costs, and continued weakness in orders and production, according to a survey by S&P Global.
Australia's home value index edged 0.3% higher in April, registering its slowest pace of growth since January 2025 amid declines in Sydney and Melbourne, according to figures from Cotality.
Australia's producer price indexes report is due at 11:30 am Sydney time.
In corporate news, ANZ Group Holdings (ASX:ANZ) reported Friday fiscal first-half cash earnings of AU$1.242 per share on operating income of AU$11.2 billion, compared with cash earnings of AU$1.17 on operating income of AU$11 billion a year earlier.
ResMed (ASX:RMD) reported Friday fiscal third-quarter non-GAAP earnings of $2.86 per share on revenue of $1.43 billion, compared with earnings of $2.37 on revenue of $1.29 billion a year earlier.
Coles Group (ASX:COL) sales revenue for the fiscal third quarter was AU$10.7 billion, up from AU$10.38 billion a year earlier.
Australia's benchmark index fell 0.2% or 21.2 points to close at 8,665.80 on Thursday.