1. ALP set to form majority government
Labor looks set to establish a majority government for its term in office as the party has taken the lead in the deciding seat of inner-Melbourne’s Macnamara, taking their total to the all-important 76 seats.

Incumbent Josh Burns is ahead of Greens candidate Steph Hodgins-May by 1911 votes, according to The Australian Financial Review’s election counter. Liberal candidate Colleen Harkin is 502 votes behind Hodgins-May.

2. WHO reluctant to rule out monkeypox pandemic, although acknowledges opportunity to stop outbreak.
The WHO said on Monday it is too soon to tell whether a recent monkeypox outbreak could lead to a global pandemic but noted that there is a “window” of opportunity to curb rising cases. (CNBC)

The public health body said there are “still many unknowns” related to the spike in cases in non-endemic countries but said the risks to the general public remain low.

“We don’t want people to panic or be afraid and think that it’s like Covid,” the WHO’s Sylvie Briand said during a briefing.

3. AGL rejects split, investors demand Paris climate alignment
Tech billionaire Mike Cannon-Brookes has successfully blocked the demerger of AGL into its green and coal-fired companies, immediately demanding alongside institutional investors Martin Currie and HESTA, that the company adopt a climate roadmap in alignment with the Paris climate accord.

“Having a Paris-aligned plan is incredibly important, because it unlocks a lot of capital for the company, and it also gives a lot of certainty to everybody, from the employees to the rest of the energy market, about what’s likely to happen,” Mr Cannon-Brookes told The Australian Financial Review.

4. A2 Milk attempts to help US with infant formula shortage
A2 Milk’s shares rose 10% to $4.77 on Monday after news it hopes to join rival Bubs Australia in a race to supply the US with infant formula. Bubs Australia shares hiked 40% to 68 cents.

5. ASX to slip, Wall St closed for Memorial Day
ASX futures were down 12 points or 0.16% to 7283 near 7am AEST, with the AUD +0.5% to 71.97 US cents.

In Europe: Stoxx 50 +0.9% FTSE +0.2% CAC +0.7% DAX +0.8%.

Brent crude +1.9% to $US121.67 a barrel.

Bitcoin +7.5% to $US31,257.85 near 6.30am AEST.