Aussie Stocks Log Best February since 2019

The S&P/ASX 200 rose 0.3% to close at 9,199 on Friday, stretching its record run to three sessions, as strength in miners outweighed declines in banks and consumer staples. The benchmark index also climbed 3.7% for the month, its strongest February since 2019, after solid corporate results helped investors shrug off a rate hike from the Reserve Bank and firmer-than-expected inflation data. Miners jumped 1.1%, buoyed by a 2% advance in gold producers as firm commodity prices and strong earnings from base and critical minerals companies pushed the sector to four record highs this month. Separately, Block Inc.’s Australian-listed shares surged nearly 28% after the payments firm unveiled plans to slash its workforce as part of an AI-focused overhaul. On the downside, financials eased 0.2%, while consumer staples underperformed, dragged lower by a 7.4% slump in Coles Group after it reported weaker half-year profit amid intensifying competition with Woolworths Group.

The S&P/ASX 200 opened largely unchanged around 9,170 in Friday morning trade, halting its two-session record run, as losses in miners and energy firms weighed. Mining giants BHP Group and Rio Tinto led the declines, down 0.6% and 1%, respectively, while energy stocks edged lower as oil prices steadied amid caution over extended US-Iran nuclear talks. Oil and gas producers Woodside Energy fell 0.7%, while its peer Santos dropped 0.8%. Rate-sensitive sectors, such as banks and real estate stocks, also remained under pressure as tightening policy risks mounted. In contrast, gold miners supported the market, up nearly 3% to a one-month high, with Northern Star and Evolution Mining climbing 2.5% each, while Newmont added 1.7%. Technology stocks were mostly higher despite a pullback from Wall Street peers. Meanwhile, an Australian trade union has requested urgent talks with WiseTech Global after the company announced plans to cut about 2,000 jobs under a two-year AI-driven restructuring.

The S&P/ASX 200 finished 0.5% higher to a new record at 9,175 on Thursday, briefly testing the 9,200 level earlier in the session, lifted by gains in heavyweight miners, healthcare leaders, and technology stocks amid a strong earnings season. Miners extended their rally, climbing 1.2% to close at a fresh peak, supported by continued earnings momentum and steady fund rotation into the sector. Heavyweight BHP rose 2.2% to a record close, while Rio Tinto advanced 3.7%. Firmer copper prices, driven by a post-Lunar New Year pickup in Chinese import demand, added further support. Healthcare stocks also gained 1.6%, led by Ramsay Health Care, which jumped 10.4% after beating first-half profit expectations, while Telix Pharmaceuticals surged 10.9%. Technology shares soared 5.2%, tracking a global rally after blockbuster results from Nvidia helped ease concerns over AI-related risks. Conversely, energy and gold stocks mostly weighed in the index, while financials ended little changed.