Australian Shares Open Flat

The S&P/ASX 200 surged 190 points, or 2.2%, to end at 8,672 on the first trading day of April, extending prior gains and hitting a two-week peak. Sentiment was buoyed by stronger U.S. futures ahead of President Trump’s address on Iran, where he might suggest hostilities could end within weeks without a formal deal. Locally, Australia's PM Anthony Albanese is set to deliver a rare national address on the Middle East conflict, with reports he will urge Australians to conserve fuel. Local data showed building permits in Australia recovered sharply in February, led by approvals for private-sector dwellings excluding houses. Logistics, manufacturing, and energy minerals logged solid gains, offsetting falls in consumer durables and commercial services. Qantas rose 3.6% after regulators granted interim approval to extend its partnership with American Airlines. Other standouts included Northern Star (8.6%), BHP (4.3%), and Macquarie (3.3%). The four major banks advanced between 1.1% and 2.5%.

Australian equities jumped 133 points, or 1.6%, to 8,615 around mid-day on April’s first trading session, extending prior gains after a strong surge on Wall Street Tuesday. Sentiment was booosted by remarks from Iranian President Masoud Pezeshkian signaling willingness to negotiate an end to the war, alongside reports that U.S. President Trump may end operations without a full reopening of the Strait of Hormuz. Meanwhile, local data showed that building permits rebounded sharply in February, driven by approvals for private-sector dwellings excluding houses. Almost all sectors in the ASX 200 advanced, led by non-energy minerals, commercial services, consumer durables, and logistics. Nevertheless, gains were capped by caution ahead of domestic trade performance, due later this week, after exports fell while imports rose in January. Among top performers were Northern Star Resources (6.8%), Sandfire Resources (6.2%), PLS Group (5.5%), BHP Group (4.3%), and Fortescue Ltd. (3.2%).

The S&P/ASX 200 rose 21 points, or 0.3%, to close at 8,482 on Tuesday, ending a three-session slide as U.S. futures rallied on reports that President Trump may end Middle East hostilities despite continued disruption in the Strait of Hormuz. Sentiment was further lifted by PMI data in top trading partner China, showing the manufacturing sector posted its strongest gain in a year during March. Commercial services, consumer non-durables, and non-energy minerals drove the gains, though declines in logistics and energy minerals capped upside. The four major banks gained between 0.7% and 1.6%. Top movers included Xero (6.9%), REA Group (4.4%), and Northern Star Resources (4.1%). For March, however, markets slid 7.8%, its first drop in four months and the weakest since January 2022, pressured by inflation concerns tied to the widening Middle East conflict. Meantime, RBA minutes showed members expect further tightening, predicting that inflation could reach 5% in Q2 if oil stays near USD 100.