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Market Wrap

ASX closes higher; Superloop lifts 18%

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The news: The Australian sharemarket finished higher as the day’s biggest movers were driven by the content of their earnings announcements and changes to guidance.

The benchmark ASX 200 rose 0.54% to end at 9,007, as 10 of the 11 sectors finished in the green.

The tech sector (+2.3%) was the best performer as Technology One (%) surged following an upgrade to full-year guidance ahead of its annual general meeting.

Biggest movers:

  • Superloop (+18.2%) — Swung to a $5.1 million half-year profit and announced it has entered a share purchase agreement to acquire Lynham Networks, the parent company of Lightning Broadband, for $165 million.
  • Netwealth Group (+13.6%) — Reported a 19.9% increase in net profit after tax for the six months to December 2025, citing positive momentum during the period.
  • Magellan Financial (+12.2%) — Posted a 27% tumble in net profit after tax to $121 million for the six months to December 2025 but declared an interim dividend of 39.5 cents that was up from the prior corresponding period of 26.4 cents.
  • The Lottery Corporation (+7%) — Reported a 1% fall in half-year net profit after tax to $173.3 million as growth in its base lottery games portfolio was offset by a fall in jackpot game volumes.
  • Dexus (+6.8%) — Reported first-half statutory profit of $348.5 million, driven by fair value gains that offset valuation losses in the prior corresponding period.
  • Capstone Copper (-14%) — Forecast its copper production to be between 200,000 and 230,000 tonnes in 2026 and plans to spend a total of USD495 million ($699 million) on sustaining and expansionary capital expenditures across its operating mines and the Santo Domingo Project.
  • Healius (-6.8%) — Posted a first-half net loss after tax of $30.4 million, greater than the $12.8 million loss reported in the previous corresponding period amid rising costs and a decline in GP attendance.
  • Suncorp Group (-4.4%) — Reported a sharp drop in first-half profit to $263 million, down from $1.1 billion a year earlier, after seeing a higher level of natural hazard costs and lower investment returns over the period.

Other earnings news:

  • Mirvac Group (+5.7%) — Reported $319 million in half-year statutory net profit as residential sales and settlements increased year on year.
  • Iluka Resources (+5.1%) — Swung to a $288 million loss in calendar year 2025, due to previously announced impairments to its mineral sands facility and inventory value write downs.
  • NAB (+4%) — Announced a first quarter net profit of $2.21 billion as the bank reported strong growth across its divisions.
  • Spark NZ (-2.5%) — Reported an 82% jump in half-year net profit, citing continued stabilisation and growing momentum in its core connectivity business.
  • Vicinity Centres (-0.8%) — Reported a 64% jump in first-half statutory net profit to $805.6 million as it tracked the top end of its full-year guidance.
  • Santos (-0.6%) — Reported an underlying net profit of USD898 million for the full year, as softer oil and gas prices more than offset a modest increase in production.
  • Fletcher Building (-0.3%) — Reported a half-year net loss of NZD11 million ($9.3 million), citing margin pressures and subdued market conditions across New Zealand and Australia.

Other news:

  • BlueScope (+2.6%) — Ryan Stokes-controlled SGH (+1.5%) and Nasdaq-listed Steel Dynamics have submitted a “best and final offer” to acquire BlueScope Steel for $32.35 per share. BlueScope said it is “considering and evaluating” the offer.
  • CSL (+0.8%) — Struck an exclusive licensing agreement with US pharmaceutical giant Eli Lilly and Company, granting certain rights to develop and commercialise its monoclonal antibody clazakizumab.
  • Endeavour Group (+0.8%) — Appointed former Aurizon and Reece chair Tim Poole as its next independent chairman, subject to regulatory approvals.
  • Telix Pharmaceuticals (+0.5%) — Submitted a marketing authorisation application in Europe for its glioma imaging candidate TLX101-Px.
  • Greatland Resources (-1.8%) — Chief operating officer Simon Tyrrell has resigned but will remain available to help with a transition of the role until 30 June 2026. No reason for his resignation was announced to the exchange.
  • Mayne Pharma (-0.4%) — Told the exchange it will commence proceedings in the NSW Supreme Court against Cosette Pharmaceuticals, its private equity backer Avista Healthcare Partners and Avista CEO David Burgstahler for breaching the terms of a failed $600 million takeover.

What’s ahead:

  • Telstra, Transurban, Wesfarmers, Sonic Healthcare, PLS, APA Group, Brambles, HUB24, IGO, Lifestyle Communities, Medibank Private and Electro Optic Systems are among the companies reporting earnings tomorrow.
  • The US Census Bureau will release durable goods orders for December on Thursday at 12:30am AEDT.
  • Meeting minutes for the last meeting of the US Federal Open Market Committee will be released on Thursday at 6:00am AEDT.
  • The Australian Bureau of Statistics will release labour force data for January on Thursday at 11:30am AEDT.
  • NAB is expected to release quarterly business confidence data on Thursday.
  • The Shanghai Stock Exchange, the Shenzhen Stock Exchange and the Hong Kong Stock Exchange remain closed for the Lunar New Year holidays on Thursday.

By Brandon How