The S&P/ASX 200 finished up 0.1 per cent on Monday, with BHP and Rio Tinto among the miners recovering after last week’s sell-off tied to concerns about AI investment.
Updated From The Australian Financial Review, The Age and 3 more
Markets in Japan, South Korea, Taiwan and Hong Kong rose on Monday after losses linked to concerns about US data-centre investment. US stock futures also edged higher.
A senior Reserve Bank official says productivity improvements from artificial intelligence are unlikely to make much difference to inflation, despite broader hopes for the technology.
A Democratic win brought a sharp shift in European markets, with bank shares rising and chipmakers falling amid concerns about demand from data centres.
The Reserve Bank of Australia lifted its rate by 25 basis points on Tuesday, its fifth increase this year. It expects inflation to stay elevated through much of 2027 and reach its target range only late that year.
Updated From RNZ, Reserve Bank of Australia and 2 more
The benchmark S&P/ASX 200 Index ended lower after US midterm results unsettled investors over the outlook for AI investment. Block rose after beating quarterly profit expectations, while City Chic advanced on its trading update.
Updated From The Australian Financial Review, The Sydney Morning Herald and 2 more
The rise, the first in more than three years, takes the Bank rate from 3.75% to 4%. The Bank warned that further increases may follow if the conflict in the Middle East continues.
Investors are weighing a lower valuation or delay for Anthropic’s planned US listing after a tech sell-off in the US. New reporting also points to a pause in AI spending growth.
New Zealand’s unemployment rate reached its highest level in 11 years in the September quarter, with 174,000 people out of work. Long-term unemployment also rose, while underutilisation stayed high.
US shares surged as investors assessed Democrats’ victories in both chambers and the prospect of more limits on President Donald Trump’s policies. Oil prices and bond yields also fell.
Results from its Bonnie & Clyde prospect in WA’s Eastern Goldfields put BPM Minerals in the weekly spotlight, with high-grade gold reported in both opening holes.
From The Age, The Sydney Morning Herald and 1 more
Brent fell below US$100 a barrel on Friday after trading above US$110 earlier in the week. Investors are weighing the risk of renewed US-Iran conflict against signs of possible diplomacy.
The S&P/ASX 200 closed at a two-month high after US election results lifted global shares. Oil fell more than 8% after comments from Donald Trump and JD Vance.
Updated From The Australian Financial Review, The Age and 1 more
The dollar reached a one-month low after Democrats won control of both the Senate and House, fuelling concerns that tighter AI rules could slow growth.
Sterling reached its strongest level against a basket of 18 currencies since the UK’s 2016 EU referendum, according to Bank data. It eased after an interest-rate rise on Thursday.
Higher transport and health costs helped lift the monthly measure, while spending volumes grew 0.7% in the September quarter, extending a run of quarterly growth.
From Australian Bureau of Statistics and The West Australian
A flash estimate put inflation at its highest in three years, driven largely by energy costs. The data could reinforce expectations of a European Central Bank rate rise in December.
US tech futures recovered after an AI-led selloff in Asian markets. October hiring came in stronger than expected, while the Dow was poised for further losses.
US shares were mixed and London stocks fell as voters headed to the polls. Apple dropped after warning that higher memory-chip costs would cut its profit margin.
The Bank of Canada and federal government have renewed their monetary policy agreement for five years, retaining the 1% to 3% control range and flexibility to respond to shocks.
Democrats have regained control of both chambers of Congress, raising questions about President Donald Trump’s mining and energy policies and the future of a mining permitting bill.
From The Northern Miner and Investing News Network
West Texas Intermediate closed lower for a second session on Tuesday, after dipping below US$95 earlier. Brent also settled lower as traders watched for progress towards a US-Iran agreement.
Spot gold reached US$4,063 an ounce and silver US$52.32 as the US dollar fell after the midterm elections. Democrats won control of both chambers of Congress.
Exports rose slightly and imports fell, taking the surplus to C$5.4 billion. Higher crude oil and gold shipments helped, while vehicle imports dropped for a second month.
The authorisation from Québec allows construction to begin at the gold project in the Eeyou Istchee James Bay region, after an environmental and social review.
From Mining Technology, Investing News Network and 1 more
US technology companies are competing with European governments and firms for bond investors. Analysts warn the extra borrowing could put further pressure on financing costs, though it is not the only factor.