The Australian sharemarket closed higher on Wednesday as investors digested a wave of corporate earnings, with strong banking and industrial results driving broad-based gains.
The S&P/ASX 200 Index climbed 147.4 points, or 1.7%, to 9,014.8, bringing the benchmark closer to its record high of 9,115.2 set in October. Nine of the 11 sectors finished in positive territory.
Financials led the advance, powered by a standout performance from Commonwealth Bank. Shares in the nation’s largest lender surged 6.8%.
The move followed the bank’s first-half results for the 2026 financial year, which showed a 5% rise in net profit after tax to A$5.412 billion.
Other major lenders also advanced, with National Australia Bank up 3.4%, Westpac rising 2.5%, and ANZ adding 1.3%.
The Materials sector contributed to the rally, led by James Hardie, which rose 4.2%. The building products group reported EBITDA of US$330 million for the December quarter, exceeding guidance of between $298 million and US$318 million.
Mining heavyweights added further support, with BHP up 1.6%, Rio Tinto adding 1.2%, and Fortescue rising 2.3%.
However, gains were partially offset by a sharp fall in CSL. The biotechnology group plunged 4.6% after announcing late on Tuesday that it had removed chief executive Paul McKenzie.
On Wednesday, CSL also reported an 81% drop in half-year earnings to US$400 million, compounding investor concerns.
Elsewhere, AGL Energy climbed 11.8% after reporting a half-year profit of $351 million.
Aussie Broadband soared 14.8% after striking a deal to acquire AGL Energy’s telecommunications business and customer assets. The transaction will see Aussie Broadband issue $115 million in stock to AGL as part of the agreement.
On the bond markets, yields edged lower. The 10-year yield fell 0.4% to 4.77%, while the 2-year yield slipped 0.2% to 4.233%.
