-- Australian shares are set to open lower on Monday after US President Donald Trump said that the US would begin a blockade of the Strait of Hormuz after peace talks between Iran and the US ended without a resolution to the conflict, sending oil prices higher.
A report from The Wall Street Journal said that Trump and his advisers were considering limited strikes on Iran. Brent crude oil futures soared nearly 8% to a four-week high of $US102.80 per barrel early on Monday. Gold fell almost 2%.
In corporate news, Monash IVF Group (ASX:MVF) received a revised, unsolicited, conditional, and non-binding indicative proposal from a consortium comprising Genesis Capital Investment Management and WHSP Holdings (ASX:SOL) to acquire 100% of the shares in Monash IVF via a scheme of arrangement at $0.90 per share.
Pro Medicus' (ASX: PME) wholly-owned US unit, Visage Imaging, signed a AU$37 million, five-year contract renewal with Northwestern Medicine.
Australia's benchmark index closed just 0.1% lower, or 12.6 points, at 8,960.60 on April 10.