Market Wrap / peace prospects

Local equities kicked off the week on a high, with the S&P/ASX 200 up 1.25% to 8,914 points, its highest level since April, as peace prospects between the United States and Iran lifted sentiment.

Gold shone again on hopes the deal will ease inflation pressures, with Northern Star adding 8.3%. The energy sector lagged, with Woodside Energy shedding 4.7% on lower Brent crude prices, and after denying any contact with Exxon over a potential takeover.

It was indeed a busy M&A Monday.

Sigma Healthcare soared 6.4% after shelving acquisition talks for UK-retailer Boots, while Atlas Arteria jumped after IFM Investors lifted its takeover offer to $5.10 per security and called it best and final.

Accent Group also surged after UK-based Frasers Group made an on-market takeover bid at A$0.65 cash per share. Shares closed past this price at $0.74 apiece.

And oOh!media hit an eight-month high after providing further due diligence access to bidders.

The week is not set to slow down, with the RBA and Bank of Japan due to hand down interest rate decisions tomorrow, ahead of the Fed later in the week.