ASX live trading: ASX gains, oil price falls; Star considers Bally's offer; steel and aluminium tariffs start this week

Star reviews Bally's last-minute funding offer, which could upend HK deal. Local shares lift from six-month lows. Energy sector leads gains but oil falls in Asian trade. Johns Lyng dives ahead of ASX 200 removal.

How will local shares respond after a sharp selloff last week?

Welcome to the Trading Day blog for Monday, March 3. The ASX 200 is 0.2 per cent higher to 7965.50 points at 3pm AEDT, as the prospect of US tariffs on Australian steel and aluminium beginning this week leads to quieter trading. 

On Friday Wall Street advanced as the market settled following an uncertain week, with the S&P 500 rising 0.6 per cent, the technology-focused Nasdaq Composite Index closing 0.7 per cent higher and the Dow Jones Industrial Average adding 0.5 per cent.

Cryptocurrency market leader bitcoin is trading below $US83,000.

The Aussie dollar is trading around US63.05c.

Originally published as ASX live trading: ASX gains, oil price falls; Star considers Bally's offer; steel and aluminium tariffs start this week