The ASX 200 opened the week with downward momentum. The benchmark started 13 points lower, marking a 0.15% dip from the previous close. The index finished Friday at 8,881.9 points. SPI futures indicated muted sentiment after Wall Street ended another record-winning streak. The Dow closed slightly higher at 47,563, while S&P 500 posted a 0.26% gain and Nasdaq rose 0.61% to 23,725. The positive movement in US indices provided little lift for local equities as the Australian market digested global and domestic developments.
ASX 200 at 12:46 pm AEDT
Energy Shares Supported by Oil Prices
Oil prices advanced on Friday night, lifting prospects for local energy stocks. Santos and Woodside Energy emerged as early sector leaders. WTI crude climbed 0.7% to US$60.98 a barrel, while Brent rose 0.6% to US$64.77. The gains followed OPEC’s decision to pause output hikes amid supply concerns. Market watchers expect the energy sector to draw interest as investors track global commodity trends and possible spillover effects on Australian producers.
Bank Earnings Centre Stage
Westpac Banking Corporation released its full-year result, reporting net profit after tax of $6.9 billion. This represented a 1% reduction year-on-year. Deposits increased 7% and total loans grew 6%. Institutional lending jumped 17%, and business lending saw growth of 15%. Agribusiness lending performed especially well, up 22%. CEO Anthony Miller said, “We have made good progress with risk culture and business transformation.” Westpac announced a final dividend per share of 77 cents, taking the total ordinary dividend to 153 cents, a 1% increase from last year. The CET1 capital ratio currently stands at 12.5%. The bank noted increased operating expenses due to investments in systems and brand upgrades. Westpac is pressing ahead with the UNITE program, focusing on simplifying its product suite and operational processes. The sale of the RAMS mortgage portfolio marked another step towards streamlining the business.
Westpac Banking Corporation’s share performance
Top Movers and Sector Highlights
Friday’s trading produced a mix of gains and declines across the ASX 200. Ventia Services led the gainers with a 4.945% rise to $5.73. Westgold Resources advanced 4.851% to $5.30. Vault Minerals added 4.347%, finishing at $0.72. Tuas Limited gained 4.302% to $7.03. Iluka Resources closed the top five risers with a 4.285% lift to $6.94. On the losing side, Steadfast Group dropped sharply by 8.791% to $5.66. Droneshield fell 5.16% to $3.86. Lovisa Holdings slid 4.626% to $36.29. Alcoa Corporation weakened by 4.523% to $56.90. IGO Limited fell 3.617% to $5.33.
Labour Market Shows Evolving Trends
Australian job data revealed further moderation. ANZ-Indeed Australian Job Ads declined 2.2% month-on-month in October. This marked the fourth consecutive monthly decrease. Annual growth fell to -7.4% year-on-year. The national unemployment rate stood at 4.5% in September, up from 4.3% in August. ANZ economists suggest the labour market remains close to balanced. Employment growth and hours worked offer evidence of resilience despite headline softness. Analysts expect the market dynamic to persist in coming months before any material tightening occurs.
Global Sentiment Influences Local Action
International factors continue to affect ASX sentiment. Strong earnings reports from Amazon and Apple pushed Wall Street to new records. Amazon soared 7.5% in one week, signalling ongoing strength in AI and cloud-related spending. Nvidia struck deals for 260,000 AI chips in South Korea. Berkshire Hathaway now holds a record US$382 billion cash, building a buffer and observing market conditions. These developments support investor confidence in technology-driven growth, while Australia’s market prefers a cautious approach with a focus on institutionals and miners.
Also Read: ANZ’s $1.11 Billion Challenge: Inside the Bank’s Major Restructuring and Penalties
Key Strategies for the New Month
The ASX faces a mix of challenges and opportunities. Sector rotation is evident as fund managers track oil, bank earnings, and global tech rallies. Brokers highlight Coles Group, Telstra Group, and REA Group for their solid market positions and growth prospects. Investors weigh short-term volatility against longer-term fundamentals. Dividend-focused strategies sit alongside high-conviction bets in critical minerals and cloud technology. The prevailing mood remains “neutral with pockets of optimism,” as local and global headlines drive positioning.
Regulatory and Corporate Developments
The ASX is operating normal trading hours. The bourse has not announced any changes to its holiday calendar or trading rules. Market participants monitor pending corporate actions, including Westpac’s move to simplify its mortgage business. Regulatory conditions remain stable, offering consistency for listed companies and investors. Boardrooms continue to respond to APRA and RBA guidance in shaping future lending and compliance practices.
The Road Ahead
Volatility is expected in the near term as markets respond to global tech strength and local earnings results. ASX investors start the week with a risk-aware approach. The focus centres on energy, financials, and labour market data. The consensus among analysts suggests steady progress for Australian equities as November trading unfolds, with global headlines and domestic developments setting the pace.
