Company Interview / the open: ASX to rise as 11th hour ceasefire reached 🏳️

Global equity markets were mixed overnight as investors awaited the deadline US President Trump has imposed on Iran to reopen the Strait of Hormuz while he threatened to destroy Iran's civilisation. The local market is set to open slightly higher with ASX futures up 0.1%.

In the last hour of trade on Wall Street the major indices recovered from steep losses earlier in the session after Pakistan's Prime Minister said that diplomatic efforts for peaceful settlement of the conflict were progressing steadily. 

US President Trump says he is scaling back his threats to expand attacks in Iran on the condition that Iran agrees to a two-week ceasefire and reopens the Strait of Hormuz. It comes after Trump threatened Tuesday that a “whole civilisation will die tonight” if Iran fails to meet his latest deadline.

Iran’s top joint military command says it will deal with the infrastructure of the US and its allies in the region in a way that will “deprive them from the region’s oil and gas for years.” 

Spot gold was up 1% at $4,700 an ounce with it having fallen about 11% since the Iran war began. The US dollar index was little changed, whilst the Australian dollar is trading at US69.8c.