Staff writers

Updated November 3, 2026 — 11:08am , first published November 3, 2026 — 5:23am

The Australian sharemarket opened higher ahead of the Reserve Bank’s interest rate decision, helped by a slump in oil prices amid renewed hopes for diplomatic efforts to end the war in Iran.

The S&P/ASX 200 was up 29.2 points, or 0.3 per cent, to 8885.70 at around 11am AEDT, with eight of its 11 industry sectors in the green. Gold miners gained and airlines soared, while energy stocks plunged. The ASX fell 0.6 per cent on Monday. The Australian dollar was trading at US69.96¢.

The RBA announces its decision at 2.30pm AEDT, with financial markets and economists expecting the central bank to deliver its fifth rate hike this year amid persistent inflation.

Wall Street has kicked off the week with strong gains.…