Afternoon Report | Market surges on peace deal
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Welcome to the Fear and Greed Business News Afternoon Report for Monday, the 15th of June, 2026. I'm Michael Thompson, and every afternoon we've got the five stories that happened today that you need to know about. Let's get going. Story number one's a big one. The local share market jumped to a two-month high today after the US and Iran announced an interim peace agreement, boosting hopes that oil supplies... through the Strait of Hormuz will soon resume. More on that in a moment. But the S&P ASX 200 rose 1.3% to 8,914 points, its highest close since mid-April. Miners and banks led the rally. BHP hit a record high while gold stocks surged as the price of the precious metal jumped. Newmont was up almost 7% while Regus Resources climbed more than 13%.
Energy companies moved the other way, though, with Woodside down almost 6% and Santos tumbling more than 8%. In other corporate news, there was a lot going on today. Sigma Healthcare, for instance, the owner of Chemist Warehouse, climbed more than 6% after it walked away from a potential $14 billion bid for UK pharmacy chain Boots. We talked about that one last week.
What caused the ASX to jump 1.3% today?
And market operator ASX Limited rose 2.6% after it admitted 5%. that a statement that it made back in early 2022 about its big chess technology upgrade was misleading. It's also agreed to a $20.5 million penalty to settle a legal case with ASIC. Story number two, as I mentioned, the peace deal out of the in Switzerland on Friday to sign that agreement between the US and Iran. The agreement will reopen the Strait of Hormuz. It'll lift parts of the US blockade on Iran and begin a 60-day process for more detailed negotiations over Tehran's nuclear program. President Donald Trump announced the breakthrough on social media, declaring that it would bring peace and security to the whole region. He also included the line in his statement, ships of the world, start your engines, let the oil flow.
Last little flourish. Pakistani Prime Minister Shabazz Sharif confirmed the deal having been a mediator during the process. He said that the agreement meant, and I quote, immediate and permanent termination of military operations on all fronts, including in Lebanon. Story number three, back home again, and Pauline Hanson has overtaken Anthony Albanese as Australia's preferred choice for Prime Minister. According to the latest Resolve political monitor, the poll in nine newspapers shows One Nation now leads on primary vote with 29% support ahead of Labor on 28% and the coalition languishing on just 20%. Hanson was nominated as preferred PM by 33% of respondents ahead of Albanese on 29%. and opposition leader Angus Taylor on 16%.
The results do come amid voter dissatisfaction with Labor's budget changes to capital gains tax, negative gearing and trusts. The poll suggests perhaps that One Nation is broadening its appeal beyond its traditional voter base. Story number four, KPMG has agreed to stop bidding for new federal government work for at least three months while the finance department investigates allegations that confidential client information was misused to win contracts. This is according to a report this afternoon in the Financial Review. The move escalates the fallout from a whistleblower complaint that alleges KPMG partners used confidential lend-lease board papers previously to pitch for audit work with Westpac and Dexus.
The firm now faces multiple investigations and a parliamentary hearing later this week. The suspension is a significant blow to KPMG's Canberra business, which holds hundreds of millions of dollars in government contracts. The scandal has already led to the departure of former Chief Executive Andrew Yates and several senior leaders within the business. Finally, story number five, President Donald Trump has celebrated his 80th birthday by hosting a UFC event on the South Lawn of the White House in a spectacle that drew thousands of spectators, as well as plenty of criticism, as you would expect. The event featured seven fights inside a specially built arena.
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Chapters
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