ASX 200 zig-zags on Friday after US President Donald Trump lauds 'very good' phone call with Chinese President Xi Jinping
The ASX 200 has zig-zagged on Friday after US President Donald Trump said he held constructive talks with Xi Jinping on trade.
Building materials company James Hardie rose 3.2 per cent in the first 40 minutes of trading as the embattled IDP Education added 2.4 per cent and insurance broker AUB Group jumped 2.1 per cent.
The index sits up less than 0.1 per cent with the materials sector adding 0.6 per cent and utilities industry rising 0.4 per cent.
The move follows a slump on Wall Street as investors look towards a monthly jobs report that will be critical for whether the US Federal Reserve will cut rates.
It also comes after Trump posted on his social media platform Truth Social that he and Chinese President Xi Jinping had a 'very good phone call'.
'The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries,' Trump said.
'There should no longer be any questions respecting the complexity of Rare Earth products.
'Our respective teams will be meeting shortly at a location to be determined.'
The Dow Jones fell 0.3 per cent on Thursday while the S&P 500 sank 0.5 per cent and the Nasdaq shed 0.8 per cent.
The tech-heavy index's slump was in part driven by Tesla's 14 per cent after the feud between CEO Elon Musk and Trump exploded into public view.
London's FTSE 250 Index dropped 0.2 per cent as Germany's DAX and the STOXX Europe 600 Index added 0.2 per cent on Thursday.
New Zealand's NZX 50 Index is up about 0.2 per cent since trading began on Friday and Japan's Nikkei 225 has risen 0.4 per cent.
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The Age
an hour ago
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Israel-Iran conflict LIVE updates: US bombs Iran, joins Israel's war, attacks three nuclear sites; Donald Trump says full payload dropped on Fordow from B-2 bombers
Key posts 11.54am Netanyahu praises Trump, attack 11.35am Report: Six bunker-buster bombs 'obliterated' Fordow 11.12am US politicians react to Iran strikes 10.17am Trump to address attacks in under two hours 10.09am Where the US bombed Iran 9.50am US bombs Iran's nuclear sites 8.23am Report: US likely to join war 6.54am Trump intelligence chief now says Iran 'weeks away' from a nuclear weapon Hide key posts Posts area 12.02pm UN leader 'gravely concerned' by US strikes By Charlotte Grieve United Nations Secretary-General António Guterres has called for de-escalation in a social media post on X. 'I am gravely alarmed by the use of force by the United States against Iran today. This is a dangerous escalation in a region already on the edge – and a direct threat to international peace and security. 'There is a growing risk that this conflict could rapidly get out of control – with catastrophic consequences for civilians, the region, and the world. 'I call on Member States to de-escalate and to uphold their obligations under the UN Charter and other rules of international law .'At this perilous hour, it is critical to avoid a spiral of is no military solution. The only path forward is diplomacy. The only hope is peace.' 11.55am Make peace or get hit again: Trump By Michael Koziol Trump to Reuters: 'They should make peace immediately. They should stop immediately. Otherwise they'll get hit again. They should make peace immediately or they'll get hit again.' 11.54am Netanyahu praises Trump, attack By Angus Delaney Israeli Prime Minister Benjamin Netanyahu has thanked United States President Donald Trump's attack on Iran's nuclear facilities, saying it could lead to prosperity and peace in the Middle East. Here's his full statement: 'President Trump your bold decision to target Iran's nuclear facilities with the awesome and righteous might of the United States will change history.' 'In Operation Rising Lion, Israel has done truly amazing things, but in tonight's actions against Iran's nuclear facilities, America has been truly unsurpassed. It has done what no other country on Earth could do. 'History will recall President Trump acted to deny the world's most dangerous regime, the world's most dangerous weapons. His leadership today has created a pivot of history that can help lead the Middle East and beyond to a future of prosperity and peace. 'President Trump and I often say peace through strength. First comes strength, then comes peace. And tonight, President Trump and the United States acted with a lot of strength. 'President Trump, I thank you, the people of Israel thank you. The forces of civilisation thank you. God. Bless America. God bless Israel. And may God bless our unshakeable Alliance are unbreakable faith.' 11.47am Graphic: What lies beneath Fordow Built securely within a mountain range, centrifuges central to Iran's nuclear program were among the United States' targets at Fordow. 11.42am Trump lied to the country: Democrats By Michael Koziol The leader of the Democrats in the US House of Representatives says Donald Trump misled the country about his plans regarding Iran, having said on Thursday that he would give the regime two weeks before he decided whether to intervene militarily. 'The risk of war has now dramatically increased, and I pray for all our troops in the region who have been put in harm's way,' Hakeem Jeffries said. 'President Trump misled the country about his intentions, failed to seek congressional authorisation for the use of military force and risks American entanglement in a potentially disastrous war in the Middle East.' Jeffries demanded a full briefing and said Trump 'shoulders complete and total responsibility for any adverse consequences that flow from his unilateral military action'. Not all Democrats agreed with that position. Pennsylvania Senator John Fetterman said Trump made the right call. 'Iran is the world's leading sponsor of terrorism and cannot have nuclear capabilities,' he said. 'I'm grateful for and salute the finest military in the world.' 11.40am Iran adviser downplays impact By Charlotte Grieve Iranian security analyst Mehdi Mohammadi, who advises speaker of Iran's Parliament Mohammad Ghalibaf, said in a post on social media that Iran had been anticipating the attacks. 'From Iran's perspective, nothing too strange has happened. Iran has been waiting for an attack on Fordow for several nights,' he wrote, according to a translation of the post published by X. 'The site had been evacuated a long time ago and the damages are not irreversible. 'Two things are certain: First, knowledge cannot be bombed, and second, the gambler will lose this time.' The comments come as Iranian officials confirm the US attacks on three of the country's nuclear facilities. 11.35am Report: Six bunker-buster bombs 'obliterated' Fordow By Angus Delaney Fox News' Sean Hannity said he spoke to Trump about 30 minutes ago and that the US used six bunker-buster bombs to destroy Iran's Fordow nuclear site. 'I just spoke to the president of the United States … Iran's nuclear ambitions are officially dead,' he said. 'It appears the United States just completely obliterated Iran's top-secret Fordow facility. 'It was initially speculated you only needed two [bunker-busting bombs] ... it turns out they used five to six, dropped by America's stealth B-2 bombers,' he said. 11.23am Republican speaker praises attack By Michael Koziol Mike Johnson, Republican Speaker of the US House of Representatives, has made a statement following the attack. Here is what he said: 'The military operations in Iran should serve as a clear reminder to our adversaries and allies that President Trump means what he says. 'The president gave Iran's leader every opportunity to make a deal, but Iran refused to commit to a nuclear disarmament agreement. 'President Trump has been consistent and clear that a nuclear-armed Iran will not be tolerated. That posture has now been enforced with strength, precision and clarity. 'The president's decisive action prevents the world's largest state sponsor of terrorism, which chants 'death to America', from obtaining the most lethal weapon on the planet. This is America First policy in action. 'God bless our brave men and women in uniform — the most lethal fighting force on the planet — as we pray for their safe return home. May God bless America.' 11.15am Why Israel needed the United States to help By Angus Delaney The US was the only country capable of successfully attacking Iran's 90-metre deep nuclear site, Fordow, which US President Donald Trump said was hit by 'a full payload of BOMBS'. This is because only B-2 bombers carry the bunker-busting Massive Ordnance Penetrator bomb, which analysts say is the sole weapon capable of destroying Fordow. Bunker-busting bombs penetrate deep into the surface and explode on a delayed fuse to reach maximum depth.
