ASX Preview: Australian Shares to Open Flat as Trump Signals Optimism on Iran Deal Talks; Viva Energy Group Refinery in Geelong on Fire

MT Newswires Live

04/16

Australian shares are expected to open flat on Thursday as markets weighed renewed optimism from the Trump administration over a possible Iran deal against escalating threats of tighter sanctions on Iranian oil buyers and ongoing disruptions to shipping through the Strait of Hormuz.

Overnight, the S&P 500 and the Nasdaq Composite rose 0.8% and 1.6%, respectively, while the Dow Jones Industrial Average fell 0.2%.

In the macroeconomy, Australia's labor force report is due at 11:30 am Sydney time.

In corporate news, A fire erupted at Viva Energy Group's (ASX:VEA) oil refinery in Geelong overnight, and firefighters are still working to bring it under control, multiple media outlets reported Thursday.

Rio Tinto Group (ASX:RIO) commissioned a new alumina conveyor at its BC Works smelter in Kitimat, Canada, the company said on Thursday.

Australia's benchmark index rose 0.1% or 7.9 points to close at 8,978.70 on Wednesday.

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