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Briefing

Market Wrap

ASX closes higher; Austal rebounds 20%

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The news: The Australian sharemarket finished higher as the tech sector as well as shipbuilder Austal bounced back from losses at the end of last week.

The benchmark ASX 200 rose 0.22% to end at 8,937.1, with eight of 11 sectors finishing in the green.

The tech sector (+5.7%) was the best performer as it rebounded from losses on Friday. WiseTech Global (+12.9%), Xero (+7.6%), Technology One (+5.6%) and Life360 (+6.8%) all finished higher.

Biggest movers:

  • Austal (+19.5%) – The shipbuilder rebounded from a 23% fall on Friday after lowering earnings guidance on Thursday.
  • JB Hi-Fi (+7.5%) – Reported a 7.1% increase in first-half net profit to $305.8 million, edging out average forecasts of $304.4 million, according to Visible Alpha data.
  • Aurizon (+7%) – Reported a 1% increase in first-half statutory net profit to $235 million, driven by the network and coal units and the execution of last year's $60 million cost-out program.
  • A2 Milk (+6.8%) – Posted a 9.4% increase in half-year profit after tax driven by growth in core products, favourable foreign exchange rates and sales from a2 Pokeno.
  • Treasury Wine Estates (-5.2%) – First-half statutory net profit after tax loss of $649.4 million, reflecting post-tax material items loss due to a non-cash impairment of US based assets.

Other earnings news:

  • Ansell (+3.8%) – Reported a 0.7% lift in full-year sales to USD1.03 billion ($1.46 billion), supported by favourable foreign exchange movements.
  • Abacus Storage King (+2.3%) – Reported a 4% increase in half-year statutory net profit. The real estate investment trust cited strong operating performance driven by revenue per available metre (RevPAM) growth across all Australian regions and expansion of operating stores.
  • Stockland (+2.3%) – reported a 19.3% increase in first-half statutory profit to $292 million, driven by a positive net investment in property revaluation.
  • New Hope Group (+1.1%) – Reported underlying EBITDA of $106.9 million in the January quarter, slightly lower than the $107.9 million in the preceding quarter.
  • GPT Group (+0.8%) – Swung to a statutory net profit for the 2025 calendar year, boosted by a $308.5 million uplift in its investment portfolio valuation.BlueScope Steel (-2.7%) – More than doubled its first-half net profit to $391 million, as the company experienced stronger US spreads, higher volumes and solid cost performance during the period. \
  • oOh!media (-2.2%) – Reported a 54% slide in statutory net profit after tax to $16.9 million for the 12 months to December, including a $28.6 million impairment of its New Zealand cash generating unit.
  • Bendigo & Adelaide Bank (-2.2%) – Recorded a $256.4 million cash half-year profit, 3.3% lower than the same period last year, as lending growth stalled.

Other news:

  • Qube (+3.3%) – Entered into a scheme implementation deed with a consortium led by Macquarie Asset Management (MAM), after announcing a proposed $11.6 billion takeover offer late last year.

What’s ahead:

  • BHP, Baby Bunting, Challenger, Judo Capital, Reliance Worldwide and Sims are among the companies reporting earnings tomorrow.
  • The RBA will release the minutes of its February monetary policy board meeting which led to the decision to increase the cash rate on Tuesday at 11:30am AEDT.
  • US and Canadian stock exchanges will not trade overnight on Monday as they observe the Presidents’ Day and Family Day public holidays respectively.

By Brandon How