30.10.202600:59:21UTC+00Australian Equities Set for Solid Weekly, Monthly Gains

Australian shares rose 95 points, or 1.1%, to 8,986 in Friday morning trade, extending recent gains to reach their highest level in more than seven weeks, supported by solid domestic earnings. Private sector credit increased 0.6% month-on-month in September, matching the pace of the previous two months, with broad-based growth across housing, business, and personal lending.

Gains were limited by overnight weakness on Wall Street and investor caution ahead of official PMI figures from key trading partner China. Markets also weighed the risk of another RBA rate hike next week, which would follow four increases already delivered this year, after Governor Bullock signalled that inflation may remain elevated for longer than previously anticipated.

Almost all sectors advanced, led by industrials, commercial services, and healthcare. Notable movers included Reece Ltd. (+9.8%), Brambles Ltd. (+2.6%), and REA Group (+2.4%), while the big four banks added between 1% and 1.5%. The ASX 200 gained roughly 2% over the week and 2.2% in October, rebounding from a sharp decline in the prior month.