What we learned today, Wednesday 8 April
We’re going to close the blog now, thanks for joining us.
Here are today’s top headlines:
Ben Roberts-Smith will remain in jail for at least a week after his legal representatives declined to apply for bail on Wednesday, a day after Australia’s most decorated soldier was charged with war crimes.
The prime minister, Anthony Albanese, issued a rare criticism of Donald Trump for threatening a “whole civilisation will die”.
Albanese welcomed a two-week conditional ceasefire between the US and Iran that is set to temporarily reopen the strait of Hormuz. The Coalition also welcomed the ceasefire.
More survivors of the Bondi terror attack are attempting to suppress their identities in ongoing court proceedings against the alleged gunmen Naveed Akram.
Petrol prices are rising again and diesel wholesale prices have hit new record highs as the government warns the US ceasefire with Iran will not make fuel cheaper.
Jackie “O” Henderson sent a text message to the head of the KiiS FM Network five months before she walked off air saying listeners were complaining that she was in an “abusive relationship” with co-host Kyle Sandilands.
New Zealand has called on the US to send fuel tankers to the Pacific to help alleviate some of the significant economic and fuel pressure caused by the war in the Middle East.
See you tomorrow morning for another day of breaking news.
Updated
ASX soars in response to Iran ceasefire
The Australian share market has recorded its biggest gain in a year, adding more than $65bn in value across the ASX in response to the Iran war ceasefire announcement.
The benchmark S&P/ASX 200 closed the day at 8,951.8 points, up 2.55%.
It was the biggest single trading day increase since April 2025, when a US decision to pause reciprocal tariffs sent global markets soaring.
Madison Cartwright, a senior geo-economics analyst at the Commonwealth Bank, said the cessation of hostilities had likely brought forward the end of the Iran war from June to May.
“The ceasefire is a significant positive step but it represents the beginning of a potential end to the war, not a resolution,” he said.
Equity markets have been pulled up and down by the Middle East conflict, given energy disruptions contribute to global inflation by elevating costs across nearly all goods and services.
Oil prices plunged by almost 15% after Donald Trump said he would suspend bombing of Iran for two weeks.
Eight of the ASX’s 11 sectors reported gains today, while the energy sector recorded steep losses. Shares in Australia’s biggest oil and gas company, Woodside Energy, fell by more than 10%.
Updated
