The Australian sharemarket began the week on a positive note, with the S&P/ASX 200 Index rising 0.2 per cent, or 14.80 points, to 8932.40 by mid-morning. Nine of the eleven sectors experienced gains as investors brace for a busy week with approximately 80 companies scheduled to release their financial results. Trading volumes may be affected by public holidays in the US and China, with US markets closed on Monday and China observing the Lunar New Year all week.
Technology stocks showed strong recovery after last week’s concerns about artificial intelligence, with WiseTech Global, a software company, surging 6.1 per cent. WiseTech Global is a logistics software company providing solutions for the global logistics industry. Xero and TechnologyOne also saw significant gains, rising 4 per cent and 3.3 per cent respectively. Uranium miners benefited from easing AI fears, with Paladin Energy up 3.9 per cent.
In contrast, financials underperformed, with ANZ declining 2.3 per cent as investors capitalised on the stock’s record high. National Australia Bank also dipped 1 per cent. Bendigo and Adelaide Bank experienced a more significant fall of 3.8 per cent following a reported 3.3 per cent decrease in interim cash earnings, reaching $256.4 million. Other significant movements included Qube’s 3.7 per cent increase after signing an $11.7 billion sale transaction with Macquarie Asset Management, and Aurizon’s 7.1 per cent surge after abandoning plans to sell a stake in its Queensland rail network and lifting its full-year dividend forecast.
Other notable movements included A2 Milk soaring 10.6 per cent after raising its FY26 revenue growth forecast. The A2 Milk Company produces and sells A2 protein type milk and related products. BlueScope Steel fell 1.1 per cent despite increasing its first-half dividend and reporting strong profit growth. Treasury Wine Estates declined 1.2 per cent after scrapping its interim dividend due to a first-half loss, while JB Hi-Fi rose 2.1 per cent despite like-for-like sales falling below forecasts.
