S&P/ ASX 200 gains 0.5 percent as banks lead rally
Published on 10/29/2026 at 13:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBanks and property stocks lead
- S&P/ASX 200 closed at 8,891 points on October 29, up 44.5 points or 0.5 percent.
- Financials, A-REITs and energy shares led gains after the Federal Reserve held rates at 3.75 percent to 4 percent.
- Mesoblast gained 22.9 percent, while Champion Iron fell 16.6 percent after weak quarterly results.
- Australia's PPI is due October 30 at 11:30 a.m. AEDT, with quarterly growth forecast at 1.0 percent.
The S&P/ASX 200 gained 44.5 points, or 0.5 percent, to 8,891.8 points on October 29. Financials, real estate investment trusts and energy stocks led the advance, Investing.com reported.
Mesoblast was the strongest index member, rising 22.9 percent after its quarterly update showed Ryoncil revenue up 44 percent. Champion Iron was the weakest, falling 16.6 percent after reporting a wider quarterly loss, Stockhead and Newswire reported.
Why did the S&P/ASX 200 rise?
Bank shares drove the index higher despite renewed expectations for a Reserve Bank of Australia rate increase. Commonwealth Bank rose 2.1 percent, National Australia Bank gained 2.3 percent, ANZ advanced 2.2 percent and Westpac added 1.9 percent.
The move followed the Federal Reserve's decision to keep its policy rate between 3.75 percent and 4 percent. Australia's September inflation data had lifted expectations for another local rate increase, but banks and property stocks still strengthened, Yahoo Finance reported.
Top and flop in the S&P/ASX 200
Winners and losers at the Sydney close according to Investing.com:
- Mesoblast up 22.9 percent: quarterly revenue and cash-flow improvements supported the move.
- IperionX up 15.7 percent.
- Neuren Pharmaceuticals up 6.4 percent.
- Champion Iron down 16.6 percent: quarterly results showed a wider net loss.
- PLS Group down 7.5 percent.
- Liontown Resources down 4.6 percent.
Seven of the 11 sectors finished higher. Advancing stocks nevertheless lagged decliners, with 509 falling stocks against 483 rising stocks.
How the session ended
The benchmark reached a new one-month high as financials, A-REITs and energy shares outweighed weakness in retail and mining names. Wesfarmers fell 4.0 percent, while Woolworths declined 3.3 percent as consumer spending concerns weighed on retailers.
The Australian dollar held near 70.52 US cents. Brent crude fell 1.2 percent to USD 113.89 a barrel, while spot gold declined 0.7 percent to USD 4,039 an ounce, ABC News reported.
What comes next for the S&P/ASX 200
Australia's producer price index for the third quarter is scheduled for October 30 at 11:30 a.m. AEDT. Quarterly growth is forecast at 1.0 percent, compared with 1.3 percent previously, while private-sector credit is also due, Trading Economics shows.
S&P/ASX 200 price data for October 29, 2026
The S&P/ASX 200 closed at 8,891.8 points on October 29, up 44.5 points or 0.5 percent from the previous close of 8,847.3 points, Investing.com reported.
S&P/ASX 200 by the numbers on October 29, 2026
- Index: S&P/ASX 200
- Home exchange: ASX, Australia
- Close on October 29, 2026: 8,891.8 points
- Change versus previous close of October 28, 2026: up 44.5 points (up 0.5 percent)
- Previous close: 8,847.3 points
- Top gainer: Mesoblast up 22.9 percent
- Top loser: Champion Iron down 16.6 percent
- Next scheduled event: October 30, 2026, 11:30 a.m. AEDT: Australia producer price index for the third quarter
