
Australian shares rose 23 points, or 0.3%, in early Wednesday trade, marking a second straight gain after Wall Street rallied Tuesday on falling oil prices and hopes of a diplomatic breakthrough in the Middle East. Meanwhile, reports suggested that Washington and Tehran were discussing a second round of negotiations, but there’s no official schedule yet. Strength in the ASX 200 was capped by caution ahead of the releases of March labor market data and April inflation expectations in Australia in the coming days. Meantime, the IMF warned the US–Israel war on Iran risks sparking an “energy crisis of unprecedented scale” that could push the global economy into recession. Treasurer Jim Chalmers said Australians were “paying a hefty price for events on the other side of the world.” Healthcare, process industries, and non-energy minerals were mainly higher, with notable movers included Evolution Mining (7.4%), Genesis Minerals (4.8%), Pro Medicus (3.1%), and Northern Star Resources (2.6%).
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