27-05-2025
ASX 200 opens flat despite the United States, European Union fast tracking trade discussions
The ASX 200 opened flat on Tuesday despite renewed hopes that Donald Trump's trade war will ease after the United States and the European Union agreed to fast track tariff discussions.
It follows the index finishing dead flat on Monday despite a double digit per cent surge among major uranium miners.
In the first 45 minutes of trading, Capstone Copper (up 6.3 per cent) is leading the charge as Sanfire Resources (up 3.8 per cent) and uranium miner Boss Energy (up 2.8 per cent) continue to rise.
Woodside Energy's shares are in focus today as the government mulls the future of the controversial Northwest Shelf gas project, with the company up about 0.8 per cent so far.
Sky News Business Reporter Ed Boyd said the future of the project was a 'big deal' for Australia's gas sector.
'Investors will be hoping that this potential approval … will give the share price a boost today,' Boyd said.
The ASX 200 is up slightly after a European Commission spokesperson said the US and EU were both looking to accelerate tariff discussions after Trump revealed plans to hike the levies to 50 per cent.
He soon after agreed to postpone the deadline for the tariff by about a month to allow more negotiating time.
"They agreed both to fast track the trade negotiations and to stay in close contact," the spokesperson said.
"There's now also a new impetus for the negotiations, and we will take it from there."
The STOXX Europe 600 Index rose one per cent on Monday, while Germany's DAX rose 1.7 per cent and France's CAC 40 jumped 1.2 per cent.
EU trade commissioner Maros Sefcovic and US commerce secretary, Howard Lutnick, spoke on Monday and Mr Sefcovic later said it was a 'good call'.
'The @EU_Commission remains fully committed to constructive and focused efforts at pace towards a deal,' he wrote on X.
'We continue to stay in constant contact.'
It was a public holiday in both the US and the UK, meaning the markets were closed on Monday.
New Zealand's NZX 50 Index is up 0.3 per cent since trading began on Tuesday, while Japan's Nikkei 225 is down 0.3 per cent.
