Australian Stocks Edge Higher as Oil Prices Fall Ahead of RBA Decision

2026-11-03 00:32 By Farida Husna 1 min. read

Australian equities rose 14 points, or 0.2%, to 8,870 in early Tuesday trading, recovering from prior losses as stronger U.S.

stock futures lifted sentiment.

Traders digested Apple’s earnings while awaiting the U.S.

midterm elections, with a sharp drop in oil prices following renewed hopes for U.S.-Iran diplomatic talks providing further support.

However, gains were capped by caution ahead of the Reserve Bank’s interest rate decision later today, as markets widely expect a fifth rate hike this year to curb persistent price pressures.

Meanwhile, Australian home prices fell in October, extending recent drops amid affordability constraints.

Industrials, transport, and non-energy minerals led gains, offsetting losses in energy minerals, tech, and healthcare.

Qantas Airways surged 6.3% on lower fuel cost expectations, while gold miners Northern Star Resources and Evolution Mining each climbed 2.6%.

Among the big four banks, Commonwealth Bank gained 1.2%, while the other three were subdued.



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ASX 200 Ends 0.3% Higher After RBA Move
The ASX 200 added 30 points, or 0.3%, to close at 8,887 on Tuesday, rebounding from the prior session’s losses as gains in retail, tech, and consumer services outweighed declines in energy minerals, consumer durables, and healthcare. Sentiment improved after the Reserve Bank of Australia delivered a widely anticipated 25bp rate hike, easing immediate policy uncertainty. Governor Bullock said the move was necessary to address persistent domestic capacity constraints, with inflation not expected to return to the 2%–3% target band until late 2027. However, weaker U.S. stock futures capped gains as investors cautiously eyed the U.S. midterm elections, jobs data, corporate earnings, and developments in the Middle East. Among major movers were REA Group (3.8%), Scentre Group (3.7%), JB Hi-Fi (3.1%), and Sigma Healthcare (2.6%). Qantas surged 6.4% on expectations of lower fuel costs. In contrast, BHP Group fell 0.6%, while Woodside Energy and Santos dropped 3.5% and 1.8%, respectively.
2026-11-03
Australian Stocks Edge Higher as Oil Prices Fall Ahead of RBA Decision
Australian equities rose 14 points, or 0.2%, to 8,870 in early Tuesday trading, recovering from prior losses as stronger U.S. stock futures lifted sentiment. Traders digested Apple’s earnings while awaiting the U.S. midterm elections, with a sharp drop in oil prices following renewed hopes for U.S.-Iran diplomatic talks providing further support. However, gains were capped by caution ahead of the Reserve Bank’s interest rate decision later today, as markets widely expect a fifth rate hike this year to curb persistent price pressures. Meanwhile, Australian home prices fell in October, extending recent drops amid affordability constraints. Industrials, transport, and non-energy minerals led gains, offsetting losses in energy minerals, tech, and healthcare. Qantas Airways surged 6.3% on lower fuel cost expectations, while gold miners Northern Star Resources and Evolution Mining each climbed 2.6%. Among the big four banks, Commonwealth Bank gained 1.2%, while the other three were subdued.
2026-11-03
ASX 200 Snaps Two-Day Rise Ahead of RBA Rate Decision
The ASX 200 lost 52 points, or 0.6%, to close at 8,857 on the first trading day of a new month, halting gains in the prior two sessions as caution prevailed ahead of Tuesday’s Reserve Bank of Australia rate decision. The central bank is widely expected to deliver its fifth hike this year to curb persistent inflationary pressures. Meanwhile, manufacturing data in top trading partner China sent mixed signals, with the official PMI unexpectedly contracting while a private survey showed further expansion. Still, losses were partly capped by a sharp rise in U.S. stock futures as oil prices fell, amid reports that the U.S. and Iran are seeking diplomatic efforts on the Middle East conflict. Non-energy minerals, healthcare, logistics, and financials led declines, partly offset by strength in transport, consumer, and industrial services. Three of the four major banks fell, while BHP Group (-1.5%) and Rio Tinto (-1.2%) also slipped. Gold miners weakened, led by Northern Star Resources (-4.5%).
2026-11-02