-- Australian shares were flat, with a negative bias, at Friday's close as markets faced uncertainty while the deadlock between the US and Iran continued in the Middle East.
The S&P/ASX 200 Index was little changed to close at 8,786.50.
Brent crude oil futures gained 1.2% to reach $106.3 per barrel. The Strait of Hormuz continued to be closed, and the US said it had carried out a "maritime interdiction" on an Iran-linked tanker.
US President Donald Trump ordered the Navy to "shoot and kill" Iranian boats laying mines in the waterway.
On the domestic front, Australia's trimmed mean inflation expectedly rose 0.9% quarter-on-quarter in the first quarter of the year, with a 3.6% year-on-year increase, according to a report by ANZ. The bank expects that the consumer price inflation rose 1.4% quarter on quarter and 4.1% year-on-year.
The divergence between headline and trimmed mean inflation partly reflects the impact of higher fuel prices in March, the report added.
In company news, Suncorp Group (ASX:SUN) has struck a reinsurance cover deal providing it with AU$800 million of protection annually and up to AU$2.4 billion in total protection over the agreement's five-year term. The agreement is effective June 30 and includes protection previously provided by Suncorp's existing dropdown arrangements below AU$350 million. Its shares rose over 4% on market close.
Newmont (ASX:NEM) reported first-quarter adjusted earnings of $2.90 per share, up from $1.25 a year earlier. Sales for the three months ended March 31 reached $7.31 billion, compared with $5.01 billion a year earlier. Its shares closed up 1%.
Lastly, Fortescue (ASX:FMG) reported total iron ore shipments of 48.4 million wet metric tonnes (wmt) during the third quarter ended March 31. The company recorded iron ore shipments of 46.1 million wmt for the quarter ended March 31, 2025. Its shares were down over 5% on market close.