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. 2
- 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. 3
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. 4
Sector snapshot
- Materials & Gold: Best on ground, helped by bullion pushing back toward US$4,000/oz. Miners broadly advanced. 5
- Energy: Higher despite softer oil earlier in the week. 2
- Financials: Slightly weaker, weighed by NAB after its full‑year result. 2
Iron ore sentiment was mixed: Dalian futures steadied near 775–778 CNY/t, while Singapore futures hovered ~US$103/t. 6
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. 7
- Emerald Resources (EMR): +6.67%
- Ramelius Resources (RMS): +5.63%
- Westgold (WGX): +5.31%
- Amcor (AMC): +5.01%. 7
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.” 8
- DroneShield (DRO): −11.69%
- Neuren (NEU): −10.43%
- IPH (IPH): −5.41%
- Mesoblast (MSB): −4.98%. 7
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. 8
- 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. 9
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. 10
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. 11
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. 12
- Gold hovered near US$4,000/oz as risk appetite remained uneven globally. AUD traded around US$0.651 by the close. 5
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. 13
Key numbers (recap)
- S&P/ASX 200:8,828.3 (+0.30%) — range 8,802–8,857. 1
- All Ords:9,098.6 (+0.3%). 2
- AUD/USD: ~0.651; Gold: ~US$3,989/oz; Brent: ~US$63.75/bbl; Iron ore: ~US$103.5/t. 3
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.
