Australian Shares Flat; Genesis Minerals to Acquire Vault Minerals for AU$5.274 per Share
Australian shares were again flat on Tuesday as oil prices continued to surge, following the US reimposition of a naval blockade over Iran. The S&P/ASX 200 Index was unchanged to close at 8,808.50. Brent crude oil futures surged to trade around $84 per barrel. US President Donald Trump said the US would impose a 20% toll on shipping in the Strait of Hormuz. Overnight, the S&P 500, Nasdaq Composite, and Dow Jones fell 0.8%, 1.6%, and 0.3%, respectively. On the domestic front, Australian consumer confidence rose 0.6 points to 75.3 points in the week of July 6 to 12, with improving confidence in the economic and financial outlook over the next 12 months, ANZ said. The four-week moving average rose 1.1 points to 74.7 points. Australia's Westpac-Melbourne Institute Consumer Sentiment Index rose 4.1% to 83.9 in July from 80.6 in June, as consumers showed relief that worst-case scenarios such as higher energy prices had not played out. Business confidence in Australia rose 9 points to negative 5 in June, driven by gains in retail and manufacturing, National Australia Bank said. Confidence remains 4 points below its February level and below the long-run average of 5 index points..
Australian shares were again flat on Tuesday as oil prices continued to surge, following the US reimposition of a naval blockade over Iran.
The S&P/ASX 200 Index was unchanged to close at 8,808.50.
Brent crude oil futures surged to trade around $84 per barrel.
US President Donald Trump said the US would impose a 20% toll on shipping in the Strait of Hormuz.
Overnight, the S&P 500, Nasdaq Composite, and Dow Jones fell 0.8%, 1.6%, and 0.3%, respectively.
On the domestic front, Australian consumer confidence rose 0.6 points to 75.3 points in the week of July 6 to 12, with improving confidence in the economic and financial outlook over the next 12 months, ANZ said.
The four-week moving average rose 1.1 points to 74.7 points.
Australia's Westpac-Melbourne Institute Consumer Sentiment Index rose 4.1% to 83.9 in July from 80.6 in June, as consumers showed relief that worst-case scenarios such as higher energy prices had not played out.
Business confidence in Australia rose 9 points to negative 5 in June, driven by gains in retail and manufacturing, National Australia Bank said.
Confidence remains 4 points below its February level and below the long-run average of 5 index points..