Daily Market Update: 12 February 2026

Australian market rallies toward record high

The S&P/ASX 200 Index (ASX: XJO) surged 1.7 per cent, or 147.40 points, to 9914.80, leaving it just shy of its October record, with eight of 11 sectors advancing. Strength in financials underpinned the move as Commonwealth Bank of Australia (ASX: CBA) jumped 6.8 per cent to $169.56, marking its strongest daily gain since March 2020, after delivering a half-year cash profit $200 million ahead of expectations and an interim dividend of $2.35 per share above consensus. The Australian dollar also climbed to a three-year high above US71¢.

Banks and materials offset CSL slide

Banking peers followed higher, with National Australia Bank Limited (ASX: NAB) up 3.4 per cent, Westpac Banking Corporation (ASX: WBC) rising 2.5 per cent and Australia and New Zealand Banking Group Limited (ASX: ANZ) gaining 1.3 per cent. In materials, James Hardie Industries plc (ASX: JHX) rallied 10.9 per cent after quarterly EBITDA exceeded guidance and expectations, while Evolution Mining Limited (ASX: EVN) advanced 8.7 per cent on a stronger interim dividend and cash flow. Newmont Corporation (ASX: NEM) and BHP Group Limited (ASX: BHP) also posted gains. Losses in CSL Limited (ASX: CSL), which fell 4.6 per cent following an 81 per cent slump in half-year earnings and the abrupt departure of its chief executive, tempered the broader advance. Elsewhere, AGL Energy Limited (ASX: AGL) climbed 11.8 per cent on an earnings beat, Aussie Broadband Limited (ASX: ABB) soared 14.8 per cent on an acquisition from AGL, ASX Limited (ASX: ASX) slipped 1.7 per cent after its chief executive resigned, and SGH Limited (ASX: SGH) rose 3.6 per cent after lifting its interim dividend.

Global markets mixed as yields rise

In the United States, the S&P 500 Index (NYSE: SPX) edged up 0.1 per cent, the Dow Jones Industrial Average (NYSE: DJI) eased 0.1 per cent from record levels and the Nasdaq Composite Index (NASDAQ: IXIC) added 0.3 per cent as stronger-than-expected January payrolls data lifted Treasury yields and dampened hopes of near-term Federal Reserve easing. Gains in artificial intelligence hardware names supported trade, with Micron, Lam Research, Applied Materials and Nvidia advancing, while industrials including Caterpillar and Eaton also strengthened. Software stocks lagged, with Salesforce, Intuit and Palantir declining, and Zillow tumbled sharply following earnings, highlighting ongoing fragility in housing-linked technology shares.