The local sharemarket has rebounded as investors cling to hopes the US and Iran might soon return to the negotiating table rather than resume their war.
The benchmark S&P/ASX200 index rose 44.8 points, or 0.5 per cent, to 8,970.8 on Tuesday, while the broader All Ordinaries gained 51.7 points, or 0.57 per cent, to 9,165.1.
In morning trade the ASX200 rose back above 9,000 for the first time since March 3, but gave back some of those gains in the afternoon to finish a touch below Thursday's closing level.
In Washington, President Donald Trump told reporters outside the White House that Iran had been in touch after peace talks collapsed over the weekend.
"I can tell you we've been called by the other side. They'd like to make a deal very badly," the president claimed.
