ASX 200 futures are up 6 points (+0.06%) at 8:30am AEDT.
The ASX 200 eked out a 2-point gain (+0.03%) to 9,032 after recovering from an early dip to 8,986.2 (-0.48%) mid-morning. Energy (+3.19%) led as fresh US sanctions on Russia’s Rosneft and Lukoil buoyed crude above US$60 during Asian trade, roughly 7% above this week’s low. Utilities (+1.29%) and Consumer Staples (+0.91%) also outperformed, while IT (-0.94%), Financials (-0.75%) and Health Care (-0.48%) weighed.
Energy names were bid: Ampol +4.07% to $31.20, Viva Energy +3.16% to $1.80, Beach Energy +2.88% to $1.25. Woodside +4.32% to $24.17 after confirming a strategic partnership with US gas group Williams involving stakes in its Louisiana LNG and Driftwood pipeline projects, freeing capital for other priorities.
Gold miners steadied as bullion held near US$4,100: Regis Resources +4.52% to $6.25; Northern Star +2.33% to $24.11; Evolution +2.12% to $10.62; Resolute +1.76% to $1.15. BNPL player Zip slipped 2.67% to $4.01, extending a three-day pullback after Monday’s strong 1Q26 update; after a 350% rally from the April $1.08 low to Monday’s $4.93 high, the move looks corrective with buyers likely to defend around the November $3.56 high.
Silex Systems jumped 8.80% to $8.42 (after an 18-year high of $9.44 intraday) as its SILEX laser-based uranium enrichment tech reached Technology Readiness Level 6 following a large-scale demo—bringing real-world deployment closer, contingent on market demand and approvals. Not all uranium names shared the bid: Deep Yellow -3.31% to $1.75, Bannerman -2.75% to $3.18, Boss -0.30% to $1.66.
Rates: the market prices ~16bp of easing (≈64% chance of a 25bp cut) at the November RBA meeting and ~46bp of cumulative cuts through August 2026.
Looking ahead (AU): S&P Global PMIs, an address by RBA Governor Michele Bullock, and quarterly production updates from Newmont, Pilbara Minerals and Whitehaven Coal.
Wall Street advances on upbeat earnings
Wall Street advanced on upbeat earnings and word that President Trump will meet China’s President Xi next Thursday in South Korea, easing US–China tensions. Later headlines reiterated 100% US tariffs on China starting Nov. 1, raising the stakes into the meeting.
Sanctions on Rosneft and Lukoil lifted crude; US Treasury yields rose 4–5bp across the curve on the risk of more persistent energy-led inflation. Tesla +2.28% to $448.98 after a Q3 FY25 update that kept optimism around Robotaxis and Optimus despite higher costs and no sales guidance. Intel surged 7.13% after hours to $40.86 on an earnings beat; the US government’s 433.3m-share purchase two months ago at $20.47 now marks an implied value near $17.7b at that price. Quantum names rallied on talk of fresh US support: IONQ +7.07% to $59.37; Rigetti +9.80% to $39.60; D-Wave +13.90% to $31.06.
Looking ahead (US): CPI due tonight alongside S&P Global PMIs; last month headline +0.4% m/m (2.9% y/y) and core +0.3% m/m (3.1% y/y). Consensus sees headline rising to 3.1% y/y, core steady at 3.1%. Rates markets are fully priced for a 25bp Fed cut next week and nearly another 25bp in December. Procter & Gamble reports.
Strong sessions in Europe
European equities logged their strongest session since mid-April, up 2.7%, led by energy as US sanctions on Russia spurred a >5% crude jump. Luxury gained 1.2%; Kering +8.7% after sales fell less than feared. The FTSEurofirst 300 rose 0.3% to a record; London’s FTSE 100 added 0.7%.
Currencies and commodities
- FX: The euro firmed to ~US$1.1615 (from US$1.1585). The AUD lifted to ~US$0.6510 (from US$0.6486). USD/JPY edged higher to ~¥152.60 (from ¥152.31).
- Oil: Brent +US$3.40 (+5.4%) to US$65.99; WTI +US$3.29 (+5.6%) to US$61.79—the biggest daily percentage gains since mid-June—after US sanctions on Rosneft and Lukoil and reports of China suspending, and India reviewing, Russian purchases.
- Metals: Copper +2.4% on hopes of additional China stimulus; aluminium +2.2% to its highest since May 2022 on supply concerns. Iron ore was unchanged at US$105.55/t.
- Gold: Futures +US$80.20 (+2.0%) to US$4,145.60; spot near US$4,111 as geopolitical risk revived haven demand ahead of US CPI.
- Policy watch (CN): The Communist Party’s four-day closed-door meeting (began Monday) is expected to outline the next five-year policy plan.