Daily Market Update: 31 October 2025

Australian market update
The S&P/ASX 200 Index finished lower by 0.5 per cent, after slipping about 1 per cent in the prior session, as investors digested hotter‑than‑expected inflation data and a cautious rate‑cut message from the Federal Reserve. Local rate‑sensitive sectors came under pressure: for example, Mirvac Group (ASX: MGR) dropped 3.8 per cent, Dexus (ASX: DXS) slipped 4.3 per cent and Stockland Group (ASX: SGP) fell 3.4 per cent as the property sector extended a sell‑off. Meanwhile, consumer discretionary names such as Wesfarmers Limited (ASX: WES) declined 7.1 per cent and JB Hi‑Fi Limited (ASX: JBH) was down 4.5 per cent despite recording a 6 per cent rise in September quarter sales in Australia. Tech and growth stocks also weakened: Xero Limited (ASX: XRO) fell 2.9 per cent, WiseTech Global (ASX: WTC) dropped 2.6 per cent and Block Limited (ASX: SQ2) declined 5 per cent. On the upside, lithium/commodity‑exposed names surged: for instance, Mineral Resources Limited (ASX: MIN) jumped 13.7 per cent and Liontown Resources Limited (ASX: LTR) rose 11.2 per cent after upgrades from brokers.

Australian company highlights
In company‑specific news, Coles Group Limited (ASX: COL) saw its shares down 2.6 per cent after a September quarter update showing group sales up 3.9 per cent and supermarket revenue up 4.8 billion AUD, slightly missing expectations. Woolworths Group Limited (ASX: WOW) meanwhile increased 3.3 per cent after unveiling a 2.1 per cent sales rise in the same quarter. Meanwhile, the board of James Hardie Industries plc (ASX: JHX) shook up, with chairwoman Anne Lloyd and two directors replaced, prompting a 3.1 per cent share decline. L1 Group gained 11.7 per cent following completion of a 286 million AUD institutional placement plus a 19 million AUD sale of existing shares. Despite strong earnings, Ampol Limited (ASX: ALD) fell 2.4 per cent as refining margins beat expectations but investors remained cautious. Lastly, Appen Limited (ASX: APX) dropped 5.5 per cent after reporting only 2 per cent revenue growth in the September quarter due to US market volatility.

Global market context
On the global front, the S&P 500 Index slipped 1 per cent and the Nasdaq Composite fell 1.4 per cent, weighed by technology and communication services sector weakness. Meta Platforms, Inc. (NASDAQ: META) tumbled 11.3 per cent after revealing a one‑time tax charge of about 15.9 billion USD and warning of materially higher AI‑related spending that will weigh on near‑term cash flows. Microsoft Corporation (NASDAQ: MSFT) was down 2.6 per cent after disclosing a 3.1 billion USD hit tied to its investment in OpenAI and reaffirming elevated AI spending. In contrast, other sectors held up better: Alphabet Inc. (NASDAQ: GOOGL) rose 2.5 per cent after better‑than‑expected earnings, while Eli Lilly and Company (NYSE: LLY) gained 4.7 per cent after raising its full‑year revenue guidance. Financials also posted gains, with JPMorgan Chase & Co. (NYSE: JPM) up 2.2 per cent, Visa Inc. (NYSE: V) up 1.9 per cent and The Goldman Sachs Group, Inc. (NYSE: GS) up 2.5 per cent.