Australian shares are poised to rise on Thursday, tracking gains in global equities and a sharp decline in oil prices after US President Donald Trump's Republican Party lost control of Congress in midterm elections, raising hopes of an early end to the US-Israeli war with Iran.
Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.6%, 1.4%, and 3%, respectively.
In the macroeconomy, the international trade in goods report is due at 11:30 am Sydney time.
In corporate news, National Australia Bank (ASX:NAB) reported Thursday fiscal 2026 cash earnings of AU$2.285 per share on net operating income of AU$22.01 billion, compared with cash earnings of AU$2.304 on net operating income of AU$20.81 billion a year earlier.
News (ASX:NWS) reported Thursday fiscal first quarter adjusted earnings of $0.28 per share on revenue of $2.28 billion, compared with adjusted earnings of $0.22 on revenue of $2.14 billion a year earlier.
Australia's benchmark index fell 0.6%, or 52.3 points, to close at 8,834.50 on Wednesday.
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