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Business

Adrian Black

Australian shares rally as traders bet on peace deal

United States Iran Donald Trump Oil Rio Tinto

The ASX has posted its best performance since early April. (Lukas Coch/AAP PHOTOS)

Australia's share market has posted its best week in two months after days of escalating attacks between the US and Iran gave way to optimism around a potential peace deal.

The S&P/ASX200 gained 170.8 points on Friday, up 1.98 per cent, to 8,804, as the broader All Ordinaries advanced 169.4 points, or 1.92 per cent, to 9,006.1.

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