The Australian sharemarket closed higher on Tuesday, October 27, 2026, driven by gains in mining and tech sectors, despite losses in banking and consumer stocks. The S&P/ASX 200 rose 25.7 points, or 0.3%, to 8835.60, with mining giants BHP and Rio Tinto climbing 2.7% and 2.1%, respectively. The Australian dollar traded at US70.25¢.
Star Entertainment shares surged 17.4% after reporting a return to profitability in the September quarter, forecasting its first positive annual operating cash flow in two years. Energy stocks also advanced, with Woodside and Santos gaining 0.4% and 0.2%, respectively, despite Brent crude slipping below $US115 per barrel.
Tech stocks received a boost from Anthropic’s IPO filing on Wall Street, lifting local tech shares. Codan, NextDC, and Megaport rose, while software makers like WiseTech Global, Xero, and Technology One declined. Banks and consumer stocks weighed on the market, with CBA, Westpac, and NAB falling, and retail stocks like Wesfarmers and JB Hi-Fi dropping.
On Wall Street, the S&P 500 gained 0.7%, the Dow Jones added 0.3%, and the Nasdaq climbed 0.8%. Anthropic’s IPO filing valued the AI company between $US1.4 trillion and $US1.5 trillion, with potential for $US1.75 trillion. Nvidia rose 2.4%, while Meta’s stock fluctuated after announcing a $US35 billion stock sale for AI investments.