Sydney — Monday, 10 November 2025 (AEDT). Australia’s sharemarket opened the new week on the front foot as miners, lithium names and tech led a broad-based rally. The S&P/ASX 200 closed up 0.75% at 8,835.9, its best daily gain in nearly a month, while market breadth was emphatically positive. Risk appetite improved alongside firmer commodity prices, upbeat global cues on a possible end to the U.S. government shutdown, and a hawkish-but-steady Reserve Bank backdrop. 1
Key takeaways
- Index & breadth: ASX 200 +0.75% to 8,835.9; advancers outran decliners 210 to 64 across the broader S&P/ASX 300. Small caps outperformed. 2
- Sector leaders: Information Technology, Materials and Energy topped the leaderboard; defensives lagged. Lithium names jumped after a fresh pop in China lithium carbonate prices. 2
- Banks in focus: ANZ rallied to an all‑time high despite reporting weaker annual earnings and detailing a cost‑cut drive; the other majors were mixed. 3
- Macro drivers: Progress toward ending the prolonged U.S. government shutdown buoyed global risk assets; China CPI ticked higher in October, easing deflation worries. 4
- Commodities & FX: Gold hit a two‑week high; Brent hovered above US$64/bbl; iron ore (SGX 62%) sat near US$104/t; the Aussie firmed around US$0.653. 5
Market snapshot (close)
- S&P/ASX 200: 8,835.9 (+0.75%)
- All Ordinaries: 9,109.4 (+0.86%)
- Small Ords: 3,712.7 (+2.03%); Emerging Companies: +3.59%
- AUD/USD: ~0.6528 (firmer on the day)
- US futures: S&P 500 +~1%, Nasdaq +~1.5% during Sydney trade
Source: Market Index close review and futures boards; Reuters futures wrap. 2
What moved the ASX today
1) Global risk tone improved. Equities across Asia–Pacific and Europe advanced as investors looked for an imminent resolution to the U.S. shutdown, aiding cyclicals and growth names on the ASX. 6
2) Lithium & critical minerals snapped higher. A roughly 5% jump in China lithium carbonate prices spurred strong gains in local producers, feeding through to a solid Materials sector finish. Pilbara Minerals (PLS) led blue‑chip risers, up about 9%. 2
3) Tech outperformed. A rebound in global tech sentiment helped push the ASX Information Technology index to the top of the sector table, aided by a bounce in WiseTech Global (WTC). 2
4) Energy firmed with oil. Brent advanced to around US$64/bbl and WTI to US$60/bbl, supporting local energy names. 7
5) RBA signals “tight capacity” backdrop. Deputy Governor Andrew Hauser said demand is still pressing against supply, limiting room to ease policy quickly—tempering aggressive rate‑cut bets but not derailing today’s risk rally. The RBA kept the cash rate at 3.60% last week. 8
Sector performance
- Winners: Information Technology (+~2.4%), Materials (+~1.6%), Energy (+~1.5%), Industrials, Financials.
- Laggards: Consumer Staples, Real Estate, Communication Services were flat to lower.
Sector board: Market Index closing review. 2
Top movers on the day
Blue‑chip gainers (selected):
- Pilbara Minerals (PLS): +9.2% — lithium price tailwinds.
- Dyno Nobel (DNL): +7.8% — explosives & mining services strength.
- IGO (IGO): +7.0% — sentiment lift across battery metals.
- WiseTech Global (WTC): +6.2% — tech rebound.
- Lynas Rare Earths (LYC): +4.8%; South32 (S32): +4.2%.
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Blue‑chip decliners (selected):
- Seek (SEK): −2.2%
- Endeavour Group (EDV): −1.6%
- Goodman Group (GMG): −1.3%
- ASX Ltd (ASX): −1.1%
- Bendigo & Adelaide Bank (BEN): −1.1%
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Beyond the Top‑100: Liontown Resources and Monadelphous were among Monday’s standout movers in mining and mining services, reflecting strength across lithium and resources contractors. 9
Big story: ANZ rallies to a record despite a messy headline
ANZ Group shares jumped ~3% to a record high as investors looked through weaker annual earnings and focused on a multi‑year cost‑cut program flagged by new CEO Nuno Matos. ANZ reported a ~14% y/y fall in cash earnings (hurt by one‑off charges), while statutory profit declined around 10%; management is targeting a 3% reduction in total costs in 2026 and tighter capital discipline. 3
Commodities, currency & global cues
- Gold: Spot gold extended gains to a two‑week high as traders priced a higher chance of a December Fed rate cut, bolstering local gold miners and ETFs. 5
- Oil: Brent ~US$64 / WTI ~US$60 on optimism Washington will reopen soon; supply worries remain a watch‑point. 7
- Iron ore: SGX 62% Fe hovered near US$103.9/t late session, supportive for major producers and services names. 10
- AUD: The Aussie firmed to around US$0.653 as risk assets improved. 11
- China macro: October CPI +0.2% y/y and a narrower PPI decline signalled tentative disinflation relief—another tailwind for regional cyclicals. 12
Corporate & policy notes
- ASX Ltd named Lucinda McCann chief compliance officer, part of a multi‑year transformation to strengthen risk and market infrastructure. Shares eased modestly. 13
- The RBA held rates at 3.60% on 4 Nov, with officials cautioning that tight capacity leaves limited room for rapid easing. Markets now look to labour data and wages to refine timing for any next move. 14
What’s next (this week)
- Australia Labour Force (Oct): Thursday, 13 Nov, 11:30am AEDT — consensus looks for a modest jobs gain and a slight uptick in unemployment; a strong print would reinforce the RBA’s patient stance. 15
- Wage Price Index (Q3): due 19 Nov — critical for validating the RBA’s inflation outlook and any 2026 policy path. 16
- U.S. shutdown vote & data calendar: Any firm breakthrough in Washington, plus U.S. inflation and labour indicators, will steer global risk tone into Friday. 4
Bottom line
A constructive mix of lithium/tech momentum, firmer commodities and improving global risk appetite set the tone for Monday’s advance. With the ASX 200 back near the top of last week’s range, bulls will look for follow‑through from Thursday’s jobs report and clarity from Washington to test resistance into mid‑November. For now, cyclicals and resources carry the baton—while rate‑sensitive defensives lag under a still‑“tight” RBA narrative. 2
This article is for general information only and does not constitute financial advice. Always conduct your own research or consult a licensed adviser before making investment decisions.
