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ASX Market Open: Bourse dawdles at six-week low after RBA’s widely priced-in ‘hold’ call | Nov 5
The Market Online· 2025-11-04 21:14
Market Overview - The Reserve Bank's decision to maintain interest rates has led to a lack of market drivers, causing Australian shares to drift [1][4] - The ASX 200 index has gained +0.14%, attempting to recover from a six-week low [2] - Investor sentiment has been affected by inflation concerns and a pause from the RBA, alongside a decline in U.S. markets, with the Dow down -0.5% and Nasdaq down -1.8% [3] Company News - Animoca, a crypto company, is planning a Nasdaq float after being banned from Australian trading five years ago [5] - IREN Ltd has signed a significant $9.7 billion deal with Microsoft Corp [5] - ANZ is involved in a dispute with trader Etienne Alexiou, who claims he would have earned $100 million if not for his dismissal [5] - Medibank is set to acquire Better Medical for up to $159 million, expanding its presence with 61 clinics across Australia [6] - Uranium stocks, including Nexgen Energy and Boss Energy, have been negatively impacted following a strong Q3 update from Kazatomprom, the world's largest uranium producer [6] Commodity Prices - The Australian dollar is trading at 64.8 U.S. cents [7] - Iron Ore prices have decreased by -1.5% to $103.45 per tonne [7] - Brent Crude oil has fallen -0.75% to $64.39 per barrel [7] - Gold prices continue to decline, currently at $3,943 per ounce [7] - U.S. natural gas futures have increased by +1.3% to $4.32 per gigajoule [7]