ASX 200 zig-zags as Iran reportedly seeks to end Israel hostilities, Donald Trump orders Tehran residents to evacuate
It follows the index jumping on Monday, driven by the soaring oil price driving a surge in energy stocks, before gradually losing most of its gains throughout the day.
In the first 30 minutes of trading, gold miner Newmont Corporation rose 4.3 per cent, regenerative medicine company Mesoblast jumped 2.7 per cent and Bellevue Gold has added 2.4 per cent.
Major US indexes bounced back on Monday after a Wall Street Journal report claimed Iran was seeking to end hostilities with Israel after the Israel Defence Forces launched attacks on the Islamic Republic's oil and gas fields, which was met with retaliatory strikes.
The Dow Jones added 0.7 per cent on Monday, while the S&P 500 rose 0.9 per cent and the Nasdaq jumped 1.5 per cent.
Oil prices remain around US$73 after jumping from about US$68 after Israel launched strikes on Iran last week.
It settled following the WSJ report, but climbed again after Trump took to his social media site Truth Social with a stark warning for Iranians.
'Everyone should immediately evacuate Tehran!' Trump posted.
London's FTSE 250 Index added 0.5 per cent, Germany's DAX increased 0.8 per cent and the STOXX Europe 600 rose 0.4 per cent on Monday.
New Zealand's NZX 50 Index has see-sawed on Tuesday while Japan's Nikkei 225 has added 0.2 per cent.
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