ASX 200 Rebounds Ahead of GDP Week After Iran Shock
The ASX 200 surged 1.6% on Friday to 8,731.70, posting its biggest daily gain in seven weeks as hopes for a U.S.-Iran truce plan boosted sentiment. The index ended the week up 0.9% and gained 0.8% for May. Investors responded to reports that a ceasefire could reopen the Strait of Hormuz and ease oil price pressures. Materials and financials led gains, while energy and utilities lagged.