31.10.202507:19:33UTC+00Australian Stocks Finish Flat

The S&P/ASX 200 concluded trading on Friday with minimal change, closing at 8,882 as earlier gains dissipated. This was primarily due to losses in consumer discretionary stocks counteracting the progress made by gold miners and major banks. Over the week, the index experienced a 1.5% drop, marking its most significant decline since late March, but it managed a modest 0.4% increase for the month. The market dynamics were largely influenced by increasing speculation that the Reserve Bank of Australia might maintain the current interest rates in November, following unexpectedly strong inflation figures. The consumer discretionary sector was the biggest drag, falling 1.7% to reach a three-month low as hopes for policy easing faded and major retailers exhibited weakness.

Amongst the top non-food retail companies, Wesfarmers experienced a 2.5% drop due to valuation concerns, while JB Hi-Fi saw a 3.4% decline attributed to sluggish sales growth. Conversely, gold stocks enjoyed a 3.3% surge, driven by expectations of record bullion prices, although the sector remained mostly unchanged for the month. In the financial sector, there were minor gains as Westpac increased by 0.7% and the Commonwealth Bank of Australia (CBA) by 1%, while National Australia Bank (NAB) remained unchanged, and ANZ faced a 0.6% drop following a report indicating a setback of over A$1 billion to its second-half earnings.