# Markets today: ASX slides lower, banks jump; Rip Curl owner in takeover talks with US giant

> Australian shares started the week lower, with tech stocks weaker after a Wall Street sell-off while banks rose ahead of the RBA decision. Westpac reported a A$6.8 billion full-year profit and expects rates to stay elevated into 2027. KMD Brands, owner of Kathmandu and Rip Curl, confirmed takeover talks with a US retail group.

- Date: 2026-11-01 · published 2026-11-02T06:10:02.980Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/74950-markets-today-asx-slides-lower-banks-jump-rip-curl-owner-in-takeover-talks-with
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Bank earnings and rate expectations shape Australian credit conditions, but this corporate and equity news has no direct effect on feed commodity supply, demand or prices.

## Sources

- theage.com.au: https://www.theage.com.au/business/markets/asx-set-to-slip-wall-street-hit-by-tech-rout-binance-sees-withdrawals-spike-as-it-returns-online-20261102-p61afh.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.