Australian shares are poised to rise on Tuesday after US President Donald Trump's remarks suggesting the conflict with Iran may be nearing an end, easing market uncertainty.

Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.8%, 1.4%, and 0.5%, respectively.

In the macroeconomy, Australia's building approvals and total value of dwellings reports are due at 11:30 am Sydney time.

In corporate news, Telix Pharmaceuticals (ASX:TLX) said that part one of its global phase three ProstACT study for TLX591-Tx met its primary objectives, demonstrating an acceptable safety and tolerability profile with no new safety concerns.

Fortescue's (ASX:FMG) wholly-owned subsidiary, Nascent Exploration, acquired all remaining shares of Alta Copper through a Canadian plan of arrangement, paying CA$1.40 per share and valuing the deal at around CA$139 million.

Australia's benchmark index fell 2.9% or 252 points to close at 8,599 on Monday.