ASX 200 surges on trade war hopes as IDP Education plunges 40+ per cent after voicing international student concerns
Gold miners are soaring with Genesis Minerals up 6.7 per cent, Westgold Resources jumping 4.6 per cent and Newmont Corporation rising 4.4 per cent in the first 40 minutes of trading.
The index is up 0.7 per cent after going backwards on Monday despite massive surges with Brickworks and Soul Patts after inking a $14b merger.
IDP Education has plummeted more than 40 per cent after the company revealed it expects earnings to halve from global uncertainty around the intake of international students.
"Continued uncertainty has impacted IDP student enrolment pipeline size and conversion rates in the important May and June pipeline build given the timing of the fall intake in the UK, Canada and the US, as well as the second semester intake in Australia," the company told shareholders.
Wall Street surged late on Monday after the White House suggested it was looking to set up a phone call between Trump and Xi Jinping this week.
White House press secretary Karoline Leavitt informed reporters of this on Monday, making her the third top Trump aide to forecast an imminent call between the two leaders to iron out differences on last month's tariff agreement in Geneva, among larger trade issues.
It was not immediately clear when the two leaders will speak.
US treasury secretary Scott Bessent told CBS' "Face the Nation" on Sunday that Trump and Xi would speak "very soon" to iron out trade issues including a dispute over critical minerals and China's restrictions on exports of certain minerals.
The Dow Jones rose 0.1 per cent, the S&P 500 finished up 0.4 per cent and the Nasdaq jumped 0.7 per cent on Monday.
London's FTSE 250 Index finished flat, Germany's DAX Index sank 0.3 per cent and the STOXX Europe 600 shed 0.1 per cent on Monday.
New Zealand's is flat since opening on Tuesday, while Japan's Nikkei 225 is up 0.2 per cent and South Korea's KOSPI 200 is flat.
-With Reuters
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