The ASX 200 rose 106 points to 9128 (1.2%). Banks were slightly higher with WBC up % and the Big Bank Basket rose to $310.41 (0.5%). MQG had an anaemic 0.3% rally. Financials were better with GQG up 3.3% and ZIP soaring 9.4%. NWL and HUB also rallied. Insurers flat. REITs mixed, SCG up 0.3% and MGR falling 1.0%. Healthcare mixed, CSL flat, RMD down 2.7%. Tech was the place to be following a US rally and the WTC results and job losses. WTC rose 11.1% kicking the All -Tech Index up 4.0% with XRO up 5.5% and IRE jumping 9.6% on better-than-expected results. MP1 bounced 9.8% as volatility continued. Industrials mixed, WOW soared 13.0% on much better results, JBH rallied 0.9% and WES continued lower. TAH hit the jackpot on results rising 23.5%. REA and CAR both trundled higher.

In resources, BHP hitting record highs again up another 3.2%. FMG jumped 4.7% on results. RIO joined in too. Gold miners were mostly better, NST up 2.1% and EVN up 3.3%. Lithium stocks jumped again, PLS up 2.8% and MIN up 1.5%. LYC jumped 7.9%. Copper stocks also in demand, SFR up 2.2%. Uranium stocks picked up pace, PDN up 4.0% and NXG rising 3.7%.

In corporate news, DMP dumped 11.1% on sales and margin issues. FLT softer on reaffirmed guidance. IRE rallied 9.6% on results and AX1 soared 19.9% after beating H1 and the dividend. DRO also had a good day, up 12.6%, after net profit jumped 367%. Still only $3.5m.

On the economic front, Australian monthly CPI came in a 3.8% as expected. 3.4% on the core CPI. Slightly above forecasts. Rate rises still on the table.

Asian markets came back online with Japan up 2.4%. China up 1.2% and HK rising 0.8%.

US Futures slightly firmer. Dow up 4 and Nasdaq up 29 on SOTU Address.

HIGHLIGHTS

  • Winners: TAH, HLI, ARB, EOS, WOW, DRO, FRS
  • Losers: DMP, VEA, OML, MND, MAD, SKC, NGI, SXE
  • Positive Sectors:  Resources. Tech. Banks.
  • Negative Sectors: Utilities
  • ASX 200 Hi 9130 Lo 9074 New record high. BHP the star.
  • Big Bank Basket: Rises to $310.41 (+0.5%)
  • All-Tech Index: Up 4.0%
  • Gold: Rises to $7293
  • Bitcoin: Rises to US$64877
  • 10-year yields: Rise to 4.73%
  • AUD: Kicks to 71.09c on CPI.
  • Asian markets – Japan up 0.9%. China up 1.3% and HK falling 1.9%
  • US Futures up slightly on SOTU. DJ up 4, Nasdaq up 22.

MARKET MOVERS

  • TAH +23.5% good results.
  • EOS +13.2% broker upgrades.
  • ARB +14.0% solid bounce.
  • DRO +12.6% results cheer.
  • WOW +13.0% surprisingly good.
  • WTC +11.1% trims jobs and beats estimate.
  • SDR +10.5% investor presentation.
  • APX +27.6% good numbers.
  • AX1 +19.9% Cinderella story.
  • BOC +13.1% copper play!
  • KGN +10.6% another jump.
  • FWD -20.7% results.
  • SND -16.0% results underwhelm.
  • PGC -12.2% no virtue in results.
  • GEM -5.5% continues to fall.
  • DMP -11.1% dumped on results.
  • VEA -7.0% broker downgrades.
  • MND -5.4% broker’s cool.
  • AFG -4.7% ex dividend.
  • MAD -5.3% broker downgrades.
  • OML -6.9% ex dividend.
  • REH -4.6% broker downgrades.
  • DBI -4.4% broker downgrades.
  • Speculative Stock of the Day: BEZ +90.0% – Mining lease conditionally approved.

ECONOMIC AND OTHER NEWS

  • CPI comes in as expected. The Consumer Price Index (CPI) rose 3.8%, unchanged from 3.8% in the 12 months to December 2025. The largest contributors to annual inflation were Housing (+6.8%), Food and non-alcoholic beverages (+3.1%) and Recreation and culture (+3.7%).
  • Trimmed mean inflation was 3.4%, up from 3.3% in the 12 months to December 2025. RBA will remain under pressure on rate rises.
  • HSBC pre-tax profit drops over 7%, revenue jumps.
  • Nvidia has sold zero H200s to China, top US export enforcer says.
  • Anthropic has loosened its central safety policy, saying the change is necessary to remain competitive.
  • Aussie and Kiwi dollars surge as traders position for global interest rate rises.
  • Louvre boss resigns months after €88mn jewel heist.
  • SOTU address – almost two hours. Biggest and best ever.

And finally……

Did you hear about the bus load of Elvis impersonators that crashed on the way to Las Vegas?

Nobody was injured, but they were All Shook Up.

Clarence

XXXXX