Australian shares were flat on Monday, as investors reacted to signs of progress in talks between the US and Iran.
The S&P/ASX 200 Index was little changed to close at 8,816.10.
Brent crude oil futures traded around $79 per barrel.
Iranian negotiators said progress had been made in talks with the US, while mediators released a statement saying the first session of talks had concluded and progress had been made on a roadmap to reach a final deal.
Iran earlier said it had once again closed the Strait of Hormuz.
In company news, Inghams Group (ASX:ING) moved to a state of heightened biosecurity vigilance to mitigate against any potential risks after Australian authorities confirmed the detection of the H5N1 avian influenza strain in two wild birds found in the Esperance region of Western Australia. It clarified that there had been no detection of the virus in commercial poultry, including Ingham's operations and its supply chain.
Metcash (ASX:MTS) reported fiscal year 2026 underlying earnings of AU$0.245 per share, down from AU$0.251 a year earlier. Revenue for the 12 months ended April 30 was AU$17.35 billion, compared with AU$17.32 billion a year earlier.
Lastly, Credit Corp Group (ASX:CCP) ceased discussions with Humm Group (ASX:HUM) regarding a potential acquisition, ending takeover talks after the parties were unable to agree on terms. Credit Corp identified unresolved concerns during commercial due diligence and reduced its indicative offer.