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AAP
AAP
Business

FED:Aussie shares flat, Iran peace talks in focus

United States Iran

Australia's share market is breaking even to start the week, as oil prices fluctuate amid tense US-Iran negotiations in Switzerland.

The S&P/ASX200 rose 1.6 points by midday on Monday to be up 0.02 per cent, to 8,828.8, as the broader All Ordinaries fell by 0.8 points, down 0.01 per cent, to 9,046.5.

"Despite the US-Iran peace deal being signed on Thursday, geopolitical risk is likely to dominate the newsflow," Capital.com senior market analyst Kyle Rodda said.

"Peace talks commenced between the US and Iran in Switzerland amidst threats to close the Strait of Hormuz after tensions flared between Israel and Hezbollah."

Energy stocks fell 0.8 per cent as oil prices eased from an overnight spike, weighing on Woodside and refinery operators Viva and Ampol.

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