Markets rise as tensions ease
The Australian share market moved higher after a US official said America and Iran would "stand down for now" following an exchange of fire near the Strait of Hormuz that tested their fragile ceasefire.
The benchmark S&P/ASX200 index finished Monday up 59.2 points, or 0.68 per cent, at 8,823.4, while the broader All Ordinaries gained 62.7 points, or 0.7 per cent, to 9,026.9.
In Washington, a Trump administration official said that "both sides will stand down for now and vessels can move freely" in the Strait of Hormuz after both sides traded tit-for-tat attacks at the weekend.
But despite the fresh hostilities, markets were pricing in a peace deal as highly likely, and quite a few oil tankers had managed to get out of the strait during the small window of peace, the trio said.
Technology stocks lead gains
Eight of the ASX's 11 sectors finished higher, with industrials, utilities and property closing lower.
The technology sector was the biggest gainer, climbing 4.0 per cent after sinking 5.2 per cent last week.
Wisetech Global rose 7.2 per cent, Xero added 4.5 per cent and Life360 climbed 11.6 per cent.
Other technology-focused companies also rose, with REA Group gaining 3.8 per cent, CAR Group adding 4.2 per cent and Zip advancing 8.7 per cent.
Miners and banks finish mixed
Neuren Pharmaceuticals was the biggest gainer in the ASX200, surging 36.1 per cent after European Union regulators reversed a previous negative opinion to recommend approval of its flagship treatment for Rett syndrome.
In the mining sector, Ramelius Resources gained 2.3 per cent after agreeing to sell its Edna May goldmine in Western Australia to Forrestania Resources.
Among the iron ore majors, BHP rose 1.4 per cent, Rio Tinto gained 0.3 per cent and Fortescue added 2.4 per cent.
In the financial sector, all four major banks finished higher, with ANZ up 0.5 per cent, Westpac rising 0.3 per cent, and both NAB and CBA gaining 1.0 per cent.
Australian dollar edges lower
The Australian dollar was trading at 68.90 US cents, down from 68.93.
