Australia’s S&P/ASX 200 closed 0.6% higher at 6733.5, mirroring upward moves on global markets as investors warmed to the People’s Bank of China’s latest effort to shore up the national economy.

China is Australia’s top buyer of commodities such as iron ore, so mining companies gained ground. BHP lifted 0.5% to A$39.15, while Rio Tinto advanced 0.2% to A$101.36.  Energy stocks were also stronger, led by Oil Search, which lifted 3.2% to A$7.49.

Insurer IAG rose 0.4% to A$7.61 as it updated investors on the impact of devastating wildfires in eastern Australia. IAG said it had received more than 2,800 bushfire-related claims since Sept. 1.

Despite today’s rise, the ASX 200 recorded a 1.3% weekly decline.

Gold futures soared on haven-related buying after a U.S. airstrike killed a top Iranian military commander, sparking a vow of vengeance from Tehran and a stock-market selloff.

Gold for February delivery on Comex added $24.30, a gain of 1.6%, to settle at $1,552.40 an ounce, a level last seen on Sept. 4 when bullion closed at $1,560.40 an
ounce. March silver advanced 10.5 cents, a gain of 0.6%, to settle at $18.15 an ounce.

Crude prices rose after a U.S. airstrike killed a high-ranking Iranian military leader, stoking traders’ fears of retaliatory attacks on Middle Eastern energy infrastructure.

While U.S. sanctions against the country have diminished Iran’s oil exports, Tehran’s promised reprisal has the potential to snarl waterborne shipments from the Persian Gulf, including from Saudi Arabia.

Brent crude settled 2.6% higher to $68.60 a barrel on London’s ICE Futures exchange. Earlier, the global benchmark was up 4.9% at $69.50, its highest level since the
September drone attacks on key Saudi Arabian oil facilities.

The dollar is mostly benefiting from a flight to safer assets after a U.S. airstrike killed a leader of Iran’s Islamic Revolutionary Guard Corps. The greenback was down 0.4%
against the Japanese yen–a traditional haven for investors.  But the euro and the British pound were down 0.1% and 0.5% against the dollar respectively, and the dollar was also higher vs. a broad range of emerging market currencies. The WSJ Dollar Index settled up 0.14% at 89.93.

European shares fell as investors flee riskier assets after a top Iranian military leader was killed in a U.S. air strike, though the U.K.’s blue-chip FTSE 100 rose, lifted by gains in energy stocks as oil prices jumped. The Stoxx Europe 600 closed 1.4 points, or 0.3%, lower at 418.33 points, albeit off an intraday low of 415.58.

Germany’s DAX was the worst hit, falling 1.3%. France’s CAC 40 ended flat and the U.K.’s FTSE 100 closed up 0.2% as oil stocks BP and Royal Dutch Shell rose more than 2%, mirroring a 2.7% rise in Brent crude prices.

Hong Kong’s benchmark index fell, as the U.S. airstrike in Iraq led to retreating Asian equities. The Hang Seng Index closed 0.3% lower at 28451.50, weighed by electronic and casino stocks.