Thursday 2nd October 2025
Daily Market Update: 03 October 2025
ASX jumps on mining and bank strength
The Australian sharemarket posted its strongest session in six weeks, with the S&P/ASX 200 Index (ASX: XJO) surging 1.1 per cent or 100.2 points to close at 8945.9. Gains were broad-based, with seven of the 11 sectors advancing, as the All Ordinaries Index (ASX: XAO) also climbed 1.1 per cent. The rally was led by a sharp rebound in banking stocks and ongoing strength in healthcare shares, tracking momentum from Wall Street. Key performers included Commonwealth Bank of Australia (ASX: CBA), up 1.7 per cent, Westpac Banking Corporation (ASX: WBC), National Australia Bank Limited (ASX: NAB), and Australia and New Zealand Banking Group Limited (ASX: ANZ), all finishing firmly in the green.
Gold surge drives mining rally
A record high in gold prices ignited strong gains across the materials sector, which jumped 1.8 per cent. Gold soared to $US3895.38 an ounce amid heightened uncertainty from a US government shutdown, lifting producers such as Westgold Resources Limited (ASX: WGX), up 8.3 per cent, Evolution Mining Limited (ASX: EVN), Northern Star Resources Limited (ASX: NST), and Bellevue Gold Limited (ASX: BGL). Mining giants BHP Group Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) both rose over 1 per cent. Micro-cap explorer Tambourah Metals Limited (ASX: TMB) spiked 44 per cent after Tribeca Investment Partners took a substantial stake. In corporate news, ARN Media Limited (ASX: A1N) edged higher despite a leadership change, while REA Group Limited (ASX: REA) fell following news of its Canadian acquisition. Other notable moves included James Hardie Industries plc (ASX: JHX) gaining 1.2 per cent and DroneShield Limited (ASX: DRO) retreating nearly 10 per cent on profit-taking.
Global equities boosted by tech optimism
US equity markets reached fresh record highs, with the S&P 500 Index (NYSE: SPX) rising 0.1 per cent, the Nasdaq Composite Index (NASDAQ: IXIC) up 0.4 per cent, and the Dow Jones Industrial Average (NYSE: DJI) adding 80 points. The rally was driven by renewed enthusiasm for artificial intelligence, sparked by a $6.6 billion share sale from OpenAI, valuing the company at $500 billion. This lifted key tech names including NVIDIA Corporation (NASDAQ: NVDA), Broadcom Inc. (NASDAQ: AVGO), and Advanced Micro Devices, Inc. (NASDAQ: AMD). Despite the tech surge, Microsoft Corporation (NASDAQ: MSFT) and Tesla Inc. (NASDAQ: TSLA) pulled back, the latter giving up gains even after a solid rise in quarterly deliveries. Meanwhile, political tensions rose as former President Donald Trump threatened federal job cuts during the ongoing government shutdown.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 1.1 | 2.0 | 0.9 | 5.1 | 12.6 |
| Financials | 1.6 | 1.9 | -1.0 | 1.1 | 21.9 |
| Resources | 1.6 | 0.5 | 2.6 | 17.6 | 8.0 |
| Information Technology | 0.3 | -0.2 | 1.1 | 5.8 | 23.1 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.1 | 0.7 | 3.3 | 7.3 | 23.2 |
| Europe | 1.2 | 2.4 | 3.3 | 3.6 | 23.3 |
| Japan | 0.2 | -1.2 | 1.3 | 7.0 | 19.4 |
| China top 50 | 2.4 | 0.2 | 4.4 | 12.0 | 26.9 |
| India top 50 | -0.4 | -0.8 | -0.9 | -5.9 | -3.0 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | 0.2 | 0.2 | 0.3 | 0.0 | 3.1 |
| Australian Corporate Bond | -0.1 | 0.2 | 0.4 | 0.3 | 4.0 |
| US Treasury | 0.1 | 0.0 | 1.0 | 1.4 | -0.6 |
| Cash | 0.1 | 0.1 | 0.3 | 0.9 | 4.3 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -0.2 | 2.8 | 9.5 | 15.1 | 50.7 |
| Silver | 0.8 | 4.2 | 15.1 | 29.2 | 54.6 |
| Crude Oil | -0.6 | -4.9 | -5.1 | -4.2 | -4.3 |
| Bitcoin | 2.7 | 5.9 | 5.7 | 9.4 | 104.2 |
