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Australian shares are poised to rise on Thursday, tracking gains in US markets and a drop in oil prices amid growing optimism that the Iran conflict may be approaching a resolution.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.7%, 1.2%, and 0.5%, respectively.
In the macroeconomy, Australia’s international trade in goods and job vacancies reports are due at 11:30 am Sydney time.
In corporate news, BHP Group (ASX:BHP) completed its long-term silver streaming agreement with Wheaton Precious Metals International and received upfront consideration of $4.3 billion from Wheaton.
Northern Star Resources (ASX:NST) sold 381,000 ounces of gold in the March quarter, bringing year-to-date production to 1.1 million ounces and keeping the company on track to exceed its revised fiscal 2026 guidance of 1.5 million ounces.
Australia’s benchmark index rose 2.2% or 190 points to close at 8,671.80 on Wednesday.