Markets surge as ceasefire hopes spark $80bn rally on the ASX

Australia’s sharemarket has recorded its strongest session in about a year, with the ASX200 jumping 2.6 per cent and adding around $80 billion in value as investors responded to a reported two-week ceasefire agreement between the United States and Iran. Gains were broad-based, with eight of eleven sectors higher and technology stocks leading the charge, while gold miners and airlines also rallied amid sharp moves in commodity prices. The Australian dollar climbed to around 70.7 US cents. Ricardo Gonçalves speaks with Kyle Rodda, Senior Financial Market Analyst at Capital.com, to unpack what’s driving the surge and what it could mean for markets next.