Market Wrap / fabulous Friday

Global markets rallied as US President Donald Trump said a peace deal with Iran could be signed as early as this weekend.

That narrative held true locally as the S&P/ASX200 recorded its largest gain since early April, surging 1.98% to close the week at 8,804 points. Over the week, the index rose 2.07%.

Gold miners parred earlier losses amid the precious metals price decline, with Northern Star Resources soaring 5% and Evolution Mining up 6.1%.

In company news, Woodside Energy announced it will acquire PetroChina's 10.7% stake in the Browse Joint Venture for US$225 million yet slid in a broader energy selloff.

Elsewhere, Monash IVF climbed amid cost-cutting measures as it downgraded its earnings guidance for this financial year by more than 12% due to weaker-than-expected demand across the Australian fertility treatment market.

Wesfarmers continued to rally off the back of Wednesday's strategy briefing, recording gains of close to 10% for the week.

Over in the C-suite, Cleanaway Waste Management chairman, Philippe Etienne, announced he will retire from the board at the end of the month after 12 years with the company. Shares edged up 1% after the company announced Samantha Hogg will take on the role from July 1st.

Tonight, markets brace for takeoff as SpaceX officially hits the market.