ASX likely to rise despite US launching strikes against Iran

The Australian share market is poised for a modest opening gain, even as the United States launches missile strikes against Iran. These strikes, a reprisal for Iran downing a US Apache helicopter, cast a shadow over the prospects of a peace deal between the two nations. The market's reaction is unfolding on a live blog, with initial ASX futures indicating a 0.1% rise to 8,622 points.

In a significant shift driven by volatile fuel prices and oil supply concerns, Australian businesses are accelerating their adoption of green energy solutions. Bank lending data reveals a surge in loans for renewable energy investments, including batteries and electric vehicles (EVs). NAB, Australia's largest business lender, reported a near doubling of loan uptake for green equipment financing between March and May this year compared to the previous year. EVs now constitute about half of all assets financed under NAB's green program, as companies seek to mitigate risks associated with fuel price fluctuations and supply chain disruptions.

Meanwhile, financial markets are reacting to geopolitical tensions and domestic economic factors. Wall Street experienced a mixed performance, with the Dow Jones seeing a slight increase while the S&P 500 and Nasdaq declined. European markets also faced downward pressure. Gold prices have fallen by 1.6% to $US4,260 per ounce, and Brent crude oil is down 2.7% at $US91.73 per barrel. Bitcoin has also seen a notable drop of 2.3% to $US62,044.

Alan Kohler's finance report highlighted potential interest rate hikes by the US Federal Reserve later this year, despite President Trump's directive to cut rates. The report also featured a comparison of gold and bitcoin prices, both of which have experienced sharp declines this year. The Australian dollar has weakened by 0.3% to 70.25 US cents.