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ASX ends higher as BHP rallies

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The news: The Australian sharemarket ended higher as the materials sector rallied following a strong earnings result from BHP.

The benchmark ASX 200 gained 0.24% to end at 8,958.9, despite only four out of 11 sectors finishing in the green.

The materials sector gained 1.28%, which helped offset losses from the real estate (-0.99%) and energy (-0.41%) sectors.

Biggest ASX 200 movers:

  • JB Hi-Fi (8.13%) — The stock continued to rally from Monday after posting a 7% jump in first-half profit.
  • BHP (4.73%) — Announced a 28% jump in first-half net profit to USD5.64 billion ($8 billion) due to higher commodity prices and higher earnings margins across its copper and iron ore divisions.
  • Reliance Worldwide (-9.09%) — Posted a 34.9% tumble in first-half profit driven by US tariff impacts and weaker demand in the US and UK.

Earnings:

  • Baby Bunting (8.64%) — Reported a 4.1% increase in first-half net profit while revenue rose 6.7% following the opening of five new stores.
  • Deterra Royalties (3.86%) — Posted a 36% rise in net profit after record sales in Mining Area C and a strong pricing environment.
  • Judo Capital (2.43%) — Announced a 46% jump in first-half profit as a result of growth in gross loans and advances.
  • Challenger (-2.38%) — Reported a net profit of $339 million for the first-half and announced its intention to facilitate an on-market share buyback of up to $150 million.
  • Seek (-3.28%) — Posted a 12% increase in net revenue for the first half of FY26 and announced it would divest its stake in Employment Hero.
  • Sims (-4.04%) — Swung to a statutory net loss of $29.9 million for the first half due to unrealised losses on derivative contracts and a $60 million credit loss.

Other news:

  • Ventia (1.66%) — Has secured a one year extension to its $107 million contract with the Australian Department of Defence.
  • Australia Foundation Investment Company (ended flat) — Announced that its chief executive and managing director Mark Freeman will retire at the end of FY26 and will be replaced by Alison Gibson.
  • Santos (-0.45%) — Its greenwashing lawsuit brought by the Australasian Centre for Corporate Responsibility has been dismissed by the Federal Court.

What’s ahead:

  • The quarterly wage price index will be published by the Australian Bureau of Statistics on Wednesday at 11:30am AEDT.
  • New Zealand will make its next monetary policy decision on Wednesday at 12pm AEDT.
  • Earnings season continues with NAB, Dexus, Technology One, Santos, Fletcher Building, Magellan, Mirvac, Suncorp and The Lottery Corporation all reporting on Wednesday.

By Jassmyn Goh