Australian shares eked out gains on Thursday, led by miners and gold names, while a trading pause and sharp fall in James Hardie grabbed headlines. Here’s what moved the market and why.
Market close at a glance
- S&P/ASX 200:8,828.3 (+0.30%) — intraday range 8,802–8,857. 52‑week range 7,169–9,115. [1]
- All Ordinaries:9,098.6 (+0.3%). [2]
- Leaders: Materials and gold stocks outperformed; Energy also firmer. Laggard: Financials. [3]
- FX & Commodities (around the close):AUD ~US$0.651, Gold ~US$3,989/oz, Brent ~US$63.75/bbl, Iron ore ~US$103.5/t. [4]
What drove today’s move
Australian equities took a modest lead from overnight gains on Wall Street and firm precious‑metals prices, while local bank earnings and a high‑profile building materials stock dominated single‑name news. The RBA’s decision on Tuesday to leave the cash rate unchanged at 3.60%, alongside a cautious inflation outlook, also framed today’s tone. [5]
Sector snapshot
- Materials & Gold: Best on ground, helped by bullion pushing back toward US$4,000/oz. Miners broadly advanced. [6]
- Energy: Higher despite softer oil earlier in the week. [7]
- Financials: Slightly weaker, weighed by NAB after its full‑year result. [8]
Iron ore sentiment was mixed: Dalian futures steadied near 775–778 CNY/t, while Singapore futures hovered ~US$103/t. [9]
Big movers on the ASX 200
Top winners
- Light & Wonder (LNW): +8.21% — rallied after reporting Q3 net income up 78% YoY; the earnings 8‑K and ASX filing landed ahead of the local open. [10]
- Emerald Resources (EMR): +6.67%
- Ramelius Resources (RMS): +5.63%
- Westgold (WGX): +5.31%
- Amcor (AMC): +5.01%. [11]
Top decliners
- James Hardie (JHX): −12.65% — the ASX paused trading after a steep early drop; the company told the exchange the move may have been affected by a public announcement (seen on Bloomberg pre‑open) that JHX CDIs were deleted from MSCI Australia Indexes. Trading was paused “pending a further announcement.” [12]
- DroneShield (DRO): −11.69%
- Neuren (NEU): −10.43%
- IPH (IPH): −5.41%
- Mesoblast (MSB): −4.98%. [13]
Company stories to know
James Hardie (JHX): Price query, index deletion and a trading pause
- The ASX issued a price query after the abrupt share slump; trading was temporarily paused pending further information. [14]
- In its formal response, James Hardie said recent trading “may have been affected” by a public announcement (pre‑open) that its CDIs were deleted from the MSCI Australia Indexes. [15]
National Australia Bank (NAB): Profit broadly flat; housing in focus
- FY cash profit:A$7.09b (slightly below consensus) with NIM 1.74%; credit impairment charge rose. CEO Andrew Irvine called Australia’s housing shortfall the country’s “biggest societal and policy challenge.” NAB shares eased. [16]
Light & Wonder (LNW): Strong quarter lifts shares
- The gaming and content company reported Q3 revenue US$841m (+3%) and net income up 78% to US$114m, underpinning today’s outsized gain. [17]
Macro backdrop: RBA on hold, gold firm, AUD steady
- On 4 Nov, the RBA held the cash rate at 3.60%, noting inflation had picked up and signalling caution; the central bank’s November Statement on Monetary Policy outlines a path for inflation to settle closer to target over time. [18]
- Gold hovered near US$4,000/oz as risk appetite remained uneven globally. AUD traded around US$0.651 by the close. [19]
What’s next (Friday & beyond)
- Overseas leads: Traders will eye US labor data (jobless claims/JOLTS today U.S. time; Non‑farm Payrolls on Fri, 7 Nov (US)) for cues on global risk appetite and the path of Fed policy — all of which can spill over into the ASX at Monday’s open. [20]
Key numbers (recap)
- S&P/ASX 200:8,828.3 (+0.30%) — range 8,802–8,857. [21]
- All Ords:9,098.6 (+0.3%). [22]
- AUD/USD: ~0.651; Gold: ~US$3,989/oz; Brent: ~US$63.75/bbl; Iron ore: ~US$103.5/t. [23]
Editor’s note
This report is for general information only and is not investment advice. Prices and percentages are based on official or widely‑followed market sources cited throughout.
References
1. www.reuters.com, 2. www.news.com.au, 3. www.news.com.au, 4. www.abc.net.au, 5. www.reuters.com, 6. www.reuters.com, 7. www.news.com.au, 8. www.news.com.au, 9. www.brecorder.com, 10. m.economictimes.com, 11. m.economictimes.com, 12. announcements.asx.com.au, 13. m.economictimes.com, 14. announcements.asx.com.au, 15. company-announcements.afr.com, 16. www.reuters.com, 17. explore.investors.lnw.com, 18. www.rba.gov.au, 19. www.reuters.com, 20. au.investing.com, 21. www.reuters.com, 22. www.news.com.au, 23. www.abc.net.au
