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CSL plunges to near-decade low after Trump rejects Iran
Australian shares dropped on Monday, as risk aversion grew after U.S. President Donald Trump rejected Iran’s response to an?outline of peace?. CSL also fell to a low not seen in over a decade, with the biotech company cutting its?outlook? and announcing $5 billion worth of?impairments. As of 0031 GMT, the?S&P/ASX 200 was down 1% to 8,661.4 points. The benchmark index closed Friday 1.5% lower. Investors' appetite for risk was drained by the escalating geopolitical uncertainties, as Middle East tensions revived demand for safe haven assets. This weighed on equity markets. On Sunday, President Trump rejected Iran's response on a U.S. peace proposal, destroying hopes for an imminent end to a 10-week conflict that has caused extensive damage in Iran and?Lebanon and paralyzed the maritime traffic in Strait of Hormuz. CSL, an Australian company, fell by more than 20 percent to register its worst trading day. It also hit its lowest level since December 2016 after reducing its fiscal 2026 earning outlook and announcing $5 billion in non-cash losses over the next two year. The health sub-index lost over 9% on Monday. Financials fell 1.7% with "Big Four" banks falling between 0.6% to 2.6%. The Reserve Bank of Australia announced its third consecutive rate hike of the year last week. If current momentum continues, technology stocks will see a 1.3% drop and be 'on track' for their biggest intraday decline since April 28. Oil prices rose on fears that the failed peace plan could cause global supplies to be tighter for longer. Woodside, a sub-index heavyweight, added 0.9% and Santos gained 0.6%. The mining subindex also gained 0.8%, with the top players Rio Tinto and BHP each gaining 1,1% and 1,2%. The benchmark S&P/NZX 50 Index in New Zealand fell by 0.7% or 93.1 points to 13,082.1.
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Dollar gains, but share futures are a little erratic as Gulf talks falter
Dollar prices rose in Asia Monday as signs of deadlock between the United States, Iran and other countries led to the Strait of Hormuz being closed and oil prices rising. U.S. Stock Futures wiggled, and in Asia, gains in AI-related stocks lifted Tokyo and Seoul share markets. Donald Trump rejected Iran's response on Sunday to the U.S. proposal to hold peace talks in order to end the conflict, calling Tehran's requests "totally unacceptable." Iranian media reported that an Iranian plan sent to Washington stressed the need to end the war?on every front and lift sanctions against Tehran. It also called for reparations and a formal recognition of Iran’s control over the Strait. Bruce Kasman noted that the conflict in the Middle East has now entered its 11th week. Energy prices are up but still at levels that act as headwinds, not obstacles to expansion. Our commodities team expects to see operational stress levels beginning in June. Brent oil futures rose quickly 3.3% in early trade, to $104.67 per barrel. U.S. crude rose 3.5% to $98,82 a barrel. The dollar gained 0.2% against the Japanese yen, reaching 156.88yen, while the euro fell 0.2%, to $1.1760. Japan bets that a shift to a more hawkish stance at the Bank of Japan, and the endorsement of U.S. Treasury Sec. Scott Bessent will give the yen buying intervention an extra boost and help slow down the currency's decline. The U.S. and Europe are both major oil importers, while Japan is the net exporter. S&P futures fell 0.1% while Nasdaq's futures were down 0.2%. Shares hit record highs on the backs of positive corporate earnings and a "solid" payrolls report. Cisco, a manufacturer of networking equipment, and Applied Materials, a maker of semiconductor equipment are among the companies releasing results this week. Nvidia, Walmart and other heavyweights are expected to release their results later this month. Nikkei rose?0.8% early in the morning, catching up with Wall Street's Friday surge. The KOSPI, which is heavily weighted towards chipmakers in South Korea, rose by nearly 5%. Trump will visit China on Wednesday and meet Chinese?President Xi Jinping for their first face-toface talks in more than six months. As they consider extending an important minerals deal, trade, Taiwan, artificial intelligence and nuclear weapons will be discussed. Gold fell 0.5% on commodity markets to $4,690 per ounce, despite the fact that it was not widely regarded as a safe-haven or a hedge against inflation. (Reporting by Wayne Cole, Editing by Edmund Klamann).
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Dollar gains, but share futures decline as Gulf talks falter
On Monday, the dollar rose and share futures fell in Asia as signs emerged that the talks between the United States &?Iran had reached a deadlock. This would have effectively closed the 'Strait of Hormuz and sent oil prices up. Donald Trump rejected Iran's response on Sunday to the U.S. proposal to hold peace talks in order to end the conflict, calling Tehran's demands "totally unacceptable." Iranian media reported that an Iranian plan sent to Washington stressed the need to end the war on all sides and lift sanctions against Tehran. Bruce Kasman noted that the conflict in the Middle East is now in its eleventh week. Energy prices are up but they remain at levels that are more of a headwind than an obstacle to expansion. Our commodities team expects to see operational stress levels beginning in June. Brent oil futures rose quickly 2.8% in early trade, to $104.06 per barrel. Crude oil gained 2.7%, reaching $97.97 per barrel. The dollar gained 0.2% against the Japanese yen, reaching 156.88yen, while the euro fell 0.2%, to $1.1760. Japan bets that a shift to a more hawkish stance at the Bank of Japan, and endorsement by U.S. Treasury Sec. Scott Bessent will give yen buying intervention an extra boost and help slow down?the currency's decline. The U.S. and Europe are both major oil importers, while Japan is the net exporter. S&P futures fell 0.3% while Nasdaq's futures slid 0.2%. Last week, shares had reached record highs on the backs of positive corporate earnings and an impressive?payrolls? report. Cisco, a manufacturer of networking equipment, and Applied Materials, a maker of semiconductor equipment are among the companies that have announced their results this week. Nvidia, Walmart and other heavyweights are expected to be announced later this month. Japan's stock market was still catching up with Wall Street's Friday jump, with futures trading a?63475 against the cash close of 62713. Trump will visit China on Wednesday and meet Chinese President Xi Jinping for the first time in six months. As they consider extending an important minerals deal, trade, Taiwan, artificial Intelligence and nuclear weapons will be discussed. Gold fell 0.5% on commodity markets to $4,690 per ounce, despite the fact that it was not widely regarded as a safe-haven or a hedge against inflation. (Reporting by Wayne Cole, Editing by Edmund Klamann).
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Israeli strikes kill 3 people in Gaza: medics
Health officials reported that Israeli strikes had killed at least three Palestinians, including two members of Hamas's police force in Gaza on Sunday. The violence underscored the fragility and the U.S.-brokered truce. According to Gaza's Hamas-run interior ministry, a medical team reported that an airstrike had killed a person in the Maghazi Refugee Camp, while another struck and killed Wessam Abdel-Hadi (the head of the criminal force in Khan Younis) and his assistant. Israel has reportedly intensified its attacks against the Hamas-run Gaza police force. The militant group used this force to reestablish government?in areas that it controlled. The Israeli military has not yet commented on the incidents. PERSISTENT VIOLENCE In the Al-Amal neighborhood of Khan Younis, southern Gaza, the blast that killed two?policemen left only a mangled skeleton on the spot where their vehicle had been parked. As the white-shrouded corpses of the men were carried through the streets, mourners chanted: "There is no God except Allah. The martyrs are loved by Allah." Ali Mousa was one of the mourners who condemned Israel for killing members of the police force of the enclave. Mousa said that despite the fact that the ceasefire was implemented several months ago, "the occupation continues to target police officers in order to create chaos amongst the people of this same nation." "The occupation seeks to create confusion and chaos in the Gaza Strip." "This is the sole goal," he said. Israel has continued to conduct?almost everyday attacks in Gaza despite a ceasefire that was signed on October 20, 2025. Local medics claim that at least 850 Palestinians were killed since the ceasefire came into effect. Israel, on the other hand, claims militants killed four soldiers during this period. Israel and Hamas blamed each other for ceasefire violation. Gaza's health officials say that more than 72,500 Palestinians have died since the Gaza War began in October 2023. Most of these were civilians. Reporting by Nidal Al-Mughrabi from Cairo and Haseeb alwazeer from Gaza. Editing by Bernadette B. Baum and Helen Popper.
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Officials in Ukraine report three deaths from Russian strikes despite ceasefire
Ukrainian officials said 'on Sunday that at least three people have been killed in Russian airstrikes and more than 150 clashes on the battlefields took place during the last 24 hours despite an arranged 'ceasefire' between Kyiv, Ukraine and Moscow, which was mediated by Washington. U.S. President Donald Trump announced on Friday that Russia had agreed to a ceasefire for three days from May 9 through May 11. A broader peace initiative to end the war, which has been going on for more than four years, is stalled. Separate reports from regional governors and the police on Sunday revealed that one person in each of the Zaporizhzhia and Kherson regions was killed by Russian drone strikes. Governor Oleh Syniehubov of the northeastern Kharkiv Region said that drone attacks on the regional capital, and nearby settlements, injured eight people? including two children. Oleksandr prokudin, the regional governor, said that seven people were injured in Kherson in?artillery or drone attacks since Saturday morning. State Emergencies Service reported that Russian forces used a drone to attack one of their rescue vehicles in Dnipropetrovsk, wounding the driver. Kyiv’s air force reported that Russia launched 27 long-ranged drones against Ukraine overnight, a number lower than usual. However, air defences shot down all of them. Ukraine's General Staff reported 147 clashes along the front lines in its daily morning report. Ukrainian officials have not yet publicly commented on Russian violations of a ceasefire brokered by the United States, which included a swap of 1,000 prisoners of each side. The Russian Defence Ministry said on Sunday that Ukraine violated the ceasefire when it launched drones and artillery attacks against its troops. It claimed that Russian forces had'shot down 57 Ukrainian aircraft. Russia and Ukraine announced separate ceasefires earlier this week, starting on Friday and then Wednesday. They both accused each other of violating them. (Reporting and editing by Gareth Jones, Ros Russell, and Dan Peleschuk)
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Israeli strikes on Gaza kill three medics, say doctors, as they test fragile ceasefire
Israeli strikes in Gaza killed at least three Palestinians on Sunday, including two of the Hamas-run police force.?Health officials?said that the violence underscored the fragility a U.S. mediated ceasefire. According to the Gaza Hamas Interior Ministry, a medical team confirmed that an airstrike killed one person at the Maghazi Refugee Camp in the Gaza Strip, while another struck the criminal policing force's head in Khan Younis Wessam Abdul-Hadi and his aide. It has been reported previously that 'Israel has intensified its attacks against?Gaza Hamas run police force that has been used by the militants to reestablish government in areas that are under their control. The Israeli military did not immediately comment on the incidents. Israel has continued to attack Gaza almost every day, despite a ceasefire in October 2025. Local?medics report that at least 850 Palestinians have been killed since the ceasefire came into effect, while Israel claims militants killed four of its soldiers during the same time period. Israel and Hamas have both blamed the other for violating ceasefires. Gaza's health officials say that more than 72,500 "Palestinians" have died since the Gaza war began in October 2023. Most of these victims were civilians. Reporting by Nidal Al-Mughrabi Editing Bernadette B. Baum
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Saudi Aramco Q1 profits rise 25% due to higher sales and a full pipeline
Saudi oil giant Aramco announced on Sunday a 25% increase in its first-quarter profit. This was mainly due to increased sales. The East-West crude pipe that circumvents the Strait o f 'Hormuz is now at full capacity. The?top oil exporter in the world reported a net profit of $32.5 Billion for the three-month period ended March 31. This was higher than the LSEG consensus estimate, which was $30.95 Billion. The total revenue increased 11.4% over the previous quarter, to $115.49 Billion. Amin Nasser said that the results show "strong resilience and operational agility in a complex geopolitical context". He had previously warned of "catastrophic" consequences if the strait remained closed. Aramco increased crude oil flows from the production heartland of Iran on its east coast, to the port of Yanbu in the 'Red Sea' following the U.S. and Israeli war against Iran. "Our East-West Pipeline has proved to be a vital supply artery. It helped to mitigate the effects of a global oil shock, and provided relief to customers who were affected by shipping restrictions in the Strait of Hormuz," he said in a press release. Recent events have demonstrated that oil and gas are vital to energy security, the global economy and reliable energy supply. Aramco’s adjusted net profit for the third quarter was $33.6billion, exceeding a median estimate of $31.16billion provided by 13 analysts. The figure is'stripped out' of $1.06 billion worth of non-operational items. These were mainly related to changes in inventory costs, gains or losses from energy trading contracts, and certain financing expenses. Capital expenditures fell to $12.1 billion from $12.5 billion a year ago, but were down sharply from $13.4 billion during the fourth quarter. Aramco gave a capital spending guidance of $50-55 Billion this year.
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Africa's richest person Dangote is looking at Kenya for a new refinery.
The Financial Times, citing a recent interview with Aliko Dangote, reported that the Nigerian billionaire is considering?Kenya for the location of an oil refinery capable of producing 650,000 barrels per day. Dangote stated in the interview that he was leaning towards Mombasa, because it has a larger and deeper port. This report follows Kenyan President William Ruto's?statement last month that East African nations were discussing plans to build a 'joint oil refining facility at the Tanzanian Port of Tanga, which is modelled on Nigeria's Dangote operations. Dangote, in an interview, compared Mombasa, Kenya, to the port of Tanga, Tanzania, and stated that "Kenyans consumed more." It's bigger. He said, "The ball is now in President Ruto's hands." "I will do whatever President Ruto says," he said. The FT reported that Dangote estimated that it would cost between $15 billion and $17 billion for the refinery to be built. East Africa imports its refined petroleum products primarily?from the Middle East. This leaves the region susceptible to supply disruptions and price spikes that were seen during the U.S.-Israeli attack on Iran. Aliko Dangote is Africa's richest person. He said at an infrastructure conference?in Nairobi, last month that he could replicate his 650,000 barrel-a-day Nigerian refining plant in East Africa if the governments of the region supported this initiative.
Police report six dead bodies found in a boxcar in Laredo.
According to police, six?bodies?were found in a boxcar on Sunday?in Laredo, Texas.
An employee of Union Pacific discovered the bodies in a trainyard at a remote location, near the border with Mexico. Police and firefighters confirmed their deaths later, according to a Laredo Police investigator Joe Baeza.
Baeza said that the police have not yet determined how they died. He said that the investigation was?ongoing'.
He said that there were no survivors.
The police did not specify where the suspects were from.
In the past, migrant deaths on trains and tractor-trailers near the U.S./Mexico border have mainly involved migrants. One incident from 2022 saw 53 people buried in an abandoned truck with faulty air conditioning just outside of San Antonio. Reporting by Noel Randewich, San Francisco. Editing by Sergio Non & Tom Hogue
(source: Reuters)