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ASX closes above 9,000 again; CBA leads banking rally

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The news: The Australian sharemarket finished higher as the financials sector surged after Commonwealth Bank beat expectations with a $5.44 billion cash profit increase.

The benchmark ASX 200 rose 1.66% to end at 9,014.8, with eight of 11 sectors finishing in the green. The ASX 200 last closed above 9,000 on 28 October 2025.

The financials sector (+3.5%) was the best performing as Commonwealth Bank (+6.8%), NAB (+3.4%), Westpac (+2.5%), ANZ (+1.3%) and Macquarie Group (+2.7%) all finished higher.

Commonwealth Bank reported its half-year earnings on Wednesday, delivering a cash profit rose 6% on the previous corresponding half, while its statutory net profit of $5.41 billion was up 5%.

Biggest movers:

  • AGL Energy (+11.8%) – Reported a 42% slide in half-year statutory profit to $94 million. Aussie Broadband has agreed to buy AGL Energy's telecoms business in an all-scrip deal, which could rise to $125 million.
  • James Hardie (+10.9%) – Upgraded FY26 net sales guidance at its sliding and trim, and deck, rail and accessories divisions. It also upgraded its total adjusted EBITDA guidance from between USD1.2 billion ($1.69 billion) and USD1.25 billion to between USD1.23 billion and USD1.26 billion.
  • Evolution Mining (+8.7%) – Reported a 110% increase in first-half net profit to $766.6 million, as achieved gold price lifted 48% and achieved copper price lifted 24%. All-in sustained costs fell 4%.
  • CSL (-4.6%) – Reported an 81% plunge in half-year net profit to USD401 million ($567 million), hurt by one-off restructuring costs and impairments. CEO Paul McKenzie was replaced with Gordon Naylor overnight.

Other earnings news:

  • SGH (+3.6%) – Reported a 2% increase in half-year underlying net profit to $518 million mostly driven by Boral's performance. Managing director Ryan Stokes also said the company has turned its focus away from its rejected bid to acquire BlueScope Steel (-0.9%).
  • Centuria Industrial REIT (+1.5%) – Reaffirmed its FY26 funds from operations (FFO) and distribution unit guidance after reporting higher statutory profit and net operating income growth in the half-year.
  • Dexus Industria REIT (+0.4%) – Reported a $10.3 million fall in its first-half statutory net profit after tax to $43.4 million, attributed primarily “to lower property valuation gains”.
  • Bravura Solutions (-5.4%) – Posted $25.9 million in net profit for the six months to December, an increase from $14.6 million a year earlier.
  • HomeCo Daily Needs REIT (-0.4%) – Reaffirmed its full-year guidance after reporting a slight increase in funds from operations (FFO) and a 4.3 cents distribution per unit (DPU) for the six months to December 2025.
  • National Storage REIT (-0.4%) – First-half underlying earnings lift 8.2% to $84.3 million, which has been attributed to “strong centre operating performance and contribution from new acquisitions and developments”.

Other news:

  • Domino’s Pizza Enterprises (+2.9%) – Poached McDonald's executive Andrew Gregory as its new group CEO and managing director.
  • Telstra (+0.2%) – Told staff that around 440 jobs will be cut if the company progresses plans to outsource work to India-based technology company Infosys, the ABC first reported. This is in addition to the 209 layoffs in Telstra's AI joint venture with Accenture, announced on Tuesday.
  • GQG Partners (-1.8%) – Funds under management lifted 1.1% or USD1.8 billion to USD165.7 billion in January, despite USD4.2 billion in outflows.

What’s ahead:

  • The US Bureau of Labor Statistics will report employment data for January on Thursday at 12:30am AEDT.
  • RBA assistant governor Sarah Hunter will address an event hosted by the Committee for Economic Development of Australia in Perth on Thursday at 3:45pm AEDT.
  • Pro Medicus, AMP, Breville, Northern Star Resources, Origin Energy and South32 are among the companies reporting earnings on Thursday.

By Brandon How