ASX trims losses on reports of Iran olive branch offer
The ASX rebounded on reports that Middle East talks could end the blockades on the Strait of Hormuz. -AAP Image
Australia's share market has pared early losses on reports Iran has offered the US a solution to the Strait of Hormuz stalemate.
Hold tight - we’re checking permissions before loading more content
The S&P/ASX200 fell 20.1 points on Monday, down 0.23 per cent, to 8,766.4, as the broader All Ordinaries dipped by 15.6 points, or 0.17 per cent, to 8,990.8.
The dropped to as low as 8,729.6 before rebounding on reports Iran had proposed delaying gridlocked nuclear talks with US officials until both sides had ended their respective blockades of the Strait of Hormuz.
The Australian dollar is buying 71.65 US cents, up from 71.23 US cents on Friday.
11°C