5h agoWed 25 Feb 2026 at 5:43amMarket snapshotASX 200: +1.2% to 9,128 points (live values below)Australian dollar: +0.8% at 71.06 US centsS&P 500: +0.8% to 6,890 pointsFTSE: Flat at 10,680 pointsSpot gold: +1% to $US5,198/ounceSpot sliver: +3.8% to $US90.64/ounceBrent crude: +0.6% to $US71.21/barrelIron ore: +0.4% at $US99/tonneBitcoin: +1.2% to $US64,800Ethereum: +1.5% to $US1,883

Price current around 4:39pm AEDT

Live updates on the major ASX indices:

5h agoWed 25 Feb 2026 at 6:20am

That’s all for today

What a whirlwind of a day!

We’ll conclude our markets live coverage here and thank you for staying with us.

Don’t forget to catch The Business on ABC News at 8:45pm, after the late news on ABC TV, and any time on ABC iview.

Our team will be back on deck tomorrow morning with the latest.

Until then … look after yourself!

Loading5h agoWed 25 Feb 2026 at 6:11amWoolies share price surges in turnaround from last result

Shares in Woolworths have had their best day on the share market on record, as earnings for the first half of the financial year impressed investors.

Woolworths shares rallied 13% on Wednesday to $35.63, beating its previous biggest one-day gain posted in October 1997.

The well-received result comes as a welcome change from the last result CEO Amanda Bardwell presented in August, when underlying profit declined, leading to heavy share price falls.

Amanda Bardwell (ABC News: John Gunn)

Wednesday’s gain takes the Woolworths share price back where it was after the fall last August.

A Woolworths customer survey from January found 77 per cent of shoppers said price was their top priority when doing their main grocery shop.

As resurgent inflation puts fresh cost-of-living pressure on Australians, food and non-alcoholic beverages was the second biggest contributor to annual inflation in January.

“What we’ve delivered in the result is eight consecutive quarters of average selling prices reducing,” Ms Bardwell said in her interview with ABC News.

“When we look at individual products and categories, of course there are examples where commodities will increase, so meat pricing is an example of that right now, where meat and lamb pricing has increased, and Woolworths takes every opportunity to manage those shelf prices as much as is possible.

“You’ll also see that in the fruit and vegetable categories — some years, as is the case at the moment, we’ve seen really abundant supply of things like avocadoes, so the average selling prices are low, and then there’ll be season where weather has impacted particular crops.”

You can watch more on Woolies and inflation on The Business tonight on ABC News Channel or anytime on iView.

5h agoWed 25 Feb 2026 at 5:59amASX 200 closes at record high

The ASX 200 has finished the day at a record high, up 1.2% at 9,128 points.

Over the last five days, the index has gained 1.4% and is almost at its 52-week high, only 0.02% below it.

Overall, the market had 134 stocks gaining, 5 unchanged and 61 stocks in the red.

When looking at the sectors, Consumer Non-Cyclicals at the top; up 5.6%, followed by Basic Materials; up 2.3% and then Technology; up 1.4%.

Utilities finished at the bottom; down 0.7%, followed by Consumer Cyclicals; down 0.4%, and then Academic & Educational Services; down 0.2%.

Among companies, the top mover was Tabcorp, up 23.5%, followed by Helia Group, up 16.4%.

It’s worth noting Woolworths shares also recorded its best one-day gain on record, up 13%, beating a 12.2% daily gain in 1997.

(LSEG)

It wasn’t a good day for Domino’s Pizza, down 11.1%, followed by Viva Energy, down 7%.

(LSEG)

The Australian dollar is also up, along with the index, at 71.09 US cents.

5h agoWed 25 Feb 2026 at 5:50amHSBC expects RBA hike in Q3 2026 and it may come sooner

Today’s monthly CPI print surprised the market modestly to the upside and suggested that core inflation is likely to still be too high for the RBA, according to HSBC’s economists.

“However, the RBA has been very clear that they do not have much faith in the signal value from the monthly CPI at this point,” said Paul Bloxham, HSBC’s chief economist for Australia, NZ & Global Commodities.

“Given the challenges, such as understanding the seasonal patterns of the data, the monthly trimmed mean’s effectiveness as a leading indicator for the primary measure — the quarterly trimmed mean — particularly in the first month in a quarter, is not yet clear,” he said.

Michael Plumb, the RBA’s head of the economic analysis department, reiterated in a speech this week, saying the Reserve Bank’s primary measure of inflation remains the quarterly trimmed mean.

“That said, to the extent that there is information in the monthly CPI data, the monthly trimmed mean showed still-strong underlying inflation,” Mr Bloxham continued.

“In January 2026, the monthly trimmed mean rose by 0.3% m-o-m; at a three-month-average rate it is running at 0.9%; and, the year-ended rate is at 3.4% y-o-y.

“If this measure was taken on its face, it suggests quarterly trimmed mean for Q1 could print at a rate that is still too high for RBA — a 0.9% q-o-q.”

Mr Bloxham added that he expected the RBA would be cautious in case the rapid shift of direction had a bigger impact on the economy, which could push it into a downturn.

“For this reason, despite the unemployment rate remaining low, and underlying inflation appearing to be too high, we see the RBA as likely to be reluctant to hike again as early as March.

“However, clearly the recent run of data on the labour market and inflation for January suggests a growing risk the RBA may have to lift its cash rate soon after that.

“Our central case sees the RBA hike in Q3 2026, but we acknowledge the risk that the RBA may choose to hike earlier than that.”

5h agoWed 25 Feb 2026 at 5:37am

Department of Defence teams up with DroneShield for counter-drone technology boost

The Department of Defence has signed a three-year bilateral collaborative research agreement with DroneShield to accelerate the development of counter-drone technology.

According to the agreement, DroneShield will share vital research data on emerging drone technologies as well as access to test articles, ranges and facilities.

Chief defence scientist Professor Tanya Monro said the department was pleased to partner with DroneShield on the development and data of emerging drone technologies.

“We know that counter-drone technology continues to evolve rapidly, by working together we can stay ahead of emerging threats and deliver innovative solutions that protect Australia’s interests,” she said.

“Counter-drone technology is critical to keeping our ADF members safe, and that’s why defence is committed to working with industry so that we can ensure our soldiers, sailors and aviators are provided with the most advanced technology available.”

5h agoWed 25 Feb 2026 at 5:25am

Rare earth and metal shares send China, Hong Kong stocks higher

China and Hong Kong stocks have risen as investors snapped up shares of rare-earth and other metals amid simmering geopolitical tensions.

China’s blue-chip CSI300 Index and the Shanghai Composite Index both gained 1.2% each. Hong Kong’s benchmark Hang Seng Index was up 0.8%.

The CSI Rare Earth Index jumped 6.4%, leading gains onshore.

The rally came after the Trump administration’s plans to use a Pentagon-created artificial intelligence program to help set reference prices for critical minerals as it works to build a global metals trading zone.

Non-ferrous metal shares climbed 4.9%, while materials shares outperformed offshore, up 3.1%.

Tech majors rebounded slightly in Hong Kong, but still traded near their lowest level since July 2025.

“Despite the year-to-date weakness in internet stocks causing significant losses, investors believe concerns over the AI-fear trade are exaggerated for the China market,” UBS analysts said in a note.

“Consequently, investors are reallocating funds to less crowded sectors like oil services, coal, lithium, and insurance names.”

Goldman Sachs analysts said data from the Lunar New Year period pointed to a solid demand backdrop, with consumers still willing to spend during the festival, broadly in line with slightly higher market expectations.

They, however, cautioned that a typical post-holiday slowdown and a longer break that might have flattered the figures made the subsequent trend crucial to monitor.

Reporting with Reuters

6h agoWed 25 Feb 2026 at 5:12amTabcorp leads share market after posting over 60pc rise in HY earnings

The shares of Tabcorp, Australia’s largest gambling company, have rocketed 18.2% after reporting a near 62% rise in first-half earnings.

Reuters reported the company’s results eclipsed market expectations, supported by a modestly improving turnover environment and cost management.

The betting firm’s stock jumped to $1.005 as of 3:52pm AEDT, marking its sharpest intraday rise since August  27,  2025, and topping the leaderboard, while the benchmark ASX 200 gained 1%.

The Victoria-headquartered firm reported $35.7  million in net profit attributable before significant items for the first half of the financial year 2025-26.

6h agoWed 25 Feb 2026 at 5:00amMore takeaways from January CPI: analyst

Rents were a touch softer than expected, lifting 0.3% vs Westpac’s 0.4% estimate, according to Justin Smirk, a senior economist at Westpac.

“We are closely watching rents to see if this modest trend continues as expected.

“Dwellings gained 0.4% in the month, on par with our expectations as we note a strengthening trend which is likely to continue through the first quarter of 2026.

“The ABS notes that project home builders in some cities have raised base prices in response to increased demand and to pass through higher labour and material costs.”

(ABS )

Electricity gained 18.5% in January compared to our forecast for 5.0%, with the rise this month driven by households using up the extended EBRF rebates, Mr Smirk says.

“This has seen the gap between electricity prices reported in the CPI, and the prices before rebates, almost close as it is now just 0.9%.

“We would expect this gap to close in February and without any new rebates, electricity prices will return to more normal pricing arrangements.”

(Australian Bureau of Statistics)

Holiday travel and accommodation fell 7.6% in January, slightly more than Westpac’s estimate of 5.9%, due to a 16.3% decline in international travel, only partially offset by a small 1.3% increase in domestic travel.

A key upside surprise, according to Mr Smirk, was in clothing and footwear, which gained 2.9% in the month compared to his team’s estimate of 0.1%.

6h agoWed 25 Feb 2026 at 4:44am

FMG reports 23pc net profit due to record shipment in H1 FY25-26

Fortescue Metals has reported a 23% jump in its net profit after tax (NPAT) to $US1.9 billion ($2.68 billion) during the first half of financial year 2026, thanks to record shipments of 100.2 million tonnes of ore.

The company’s board has declared a fully franked interim
dividend of $0.62 per share.

The shares of Fortescue were trading at $20.67, up 2.3%, as of 3:21pm AEDT.

6h agoWed 25 Feb 2026 at 4:33amAUD trades above 71 US cents

The Australian dollar is trading at 71.08 US cents, up 9.7% over the last six months.

(LSEG)

6h agoWed 25 Feb 2026 at 4:31am

Housing seen as a safe asset: Geoff Wilson on CGT discount

Senate hearing on the capital gains tax discount continues to hear evidence from experts on whether it should be changed.

Geoff Wilson of Wilson Asset Management has told the committee that, “Australians see housing as an asset they have confidence to invest in”, with other assets such as stocks are seen as “higher risk”.

“A disproportionate amount of money has gone to the top 20 companies, and not smaller ones.”

He added that changes to the tax could move investment to smaller Australian businesses and boost flagging productivity.

7h agoWed 25 Feb 2026 at 4:20am

More about replacing than scrapping CGT discount

The Senate hearing into the CGT discount is hearing from experts on whether the discount should be scrapped. Are other proposals being presented that would still allow inflation to be considered when CGT is calculated? Also, are there any discussions on different treatment for capital losses?

– Jonathan

Hello Jonathan,

Thank you for your question.

I just had a chat with my colleague Jasper Wells regarding your inquiry (I was as intrigued as you).

Here’s what he told me:

“There have been a few ideas tossed around for replacing, rather than entirely scrapping the CGT discount.

“Dr Ken Henry suggested cutting the marginal tax rate as a starter.

“He also recommended a neutrality-based tax rate. Likewise, introducing government vehicles with cash flow for innovation was also raised as an alternative.

“However, there wasn’t much talk around capital losses either.”

Hope this helps. 😊

7h agoWed 25 Feb 2026 at 4:09am

Tips on cost of budgeting from finance expert

We’re all feeling the pinch amid the general cost-of-living pressures.

Here are some tips from Jenneke Mills, an MLC finance expert, to ease the pain a bit (fingers crossed).

“The biggest savings probably aren’t in your coffee habit,” she said.

“While trimming back on smaller, more frequent spending can absolutely help, some pretty significant opportunities exist in the foundation and structure of your finances.

“A simple review of how things are set can make a real difference- all without giving up a thing.”

Ms Mills has encouraged mortgage holders to check their home loan rates.

“Lenders don’t always reward loyalty, and the ‘loyalty tax’ can be costly.

“The time, effort and paperwork involved in refinancing can make it feel like a chore, but you can save big bucks, sometimes thousands of dollars a year, if you’re able to secure a lower rate.”

Starting to build a small buffer, even if it’s slow, she adds.

“When money is tight, ‘build an emergency fund’ can sound unrealistic.

“However, you don’t need to instantly save thousands to make a difference. Even a modest amount set aside regularly can create a sense of safety and flexibility.

“This is about creating breathing room.”

If you have debt and your cash flow is really under pressure, Ms Mills suggests consolidating debts or switching to interest-only repayments, which can lower your monthly outgoings for a while.

“But it’s important to understand the flip side- you may pay more interest overall in the long run, so it’s worth running the numbers,” she warns.

7h agoWed 25 Feb 2026 at 4:00am

CGT discount the ‘dumbest of all options’: Ken Henry

More from the Senate hearings about the CGT discount.

Ken Henry, former Secretary of the Treasury, didn’t mince his words when addressing the CGT discount at the Senate committee hearing underway in Sydney, saying it was “the dumbest of all options”.

He warned the discount created “intergenerational injustice” and contributed to locking out younger Australians from property ownership; with future generations being saddled with a financial deficit.

“I think that’s unconscionable”, he said.

When asked by Greens Senator Nick McKim about whether going to work five days a week was the worst way to get ahead in Australia, he agreed that it was, and that the current tax system didn’t favour workers.

 But added, “I’d still encourage them to go to work.”

7h agoWed 25 Feb 2026 at 3:48am

Coles begins closing submissions for ACCC case

The judge overseeing a bombshell federal court case has made a stunning intervention as the consumer watchdog makes closing arguments.

The ACCC has been outlining why it believes supermarket giant Coles broke the law by misleading shoppers with fake discounts on hundreds of items.

During the week-long trial the consumer watchdog alleged the supermarket giant jacked up prices briefly before dropping them to a higher-than-original price under the “Down Down” promotion.

But this morning Justice Michael O’Bryan interrupted the ACCC’s legal counsel Garry Rich a short time into his address, questioning if the case would “fail”.

We’ve now got Coles head legal counsel making submissions to Justice O’Bryan, with KC John Sheahan arguing that Coles’ prices were always genuine:

“The suggestion this is a tactic is completely mistaken,” he said.

“The discount is a good deal because it’s a real discount on the last genuine price.”

You can watch the case live on YouTube. And you can read about Justice O’Bryan’s comments to the ACCC’s arguments in this full piece by my colleagues.

7h agoWed 25 Feb 2026 at 3:41amSupreme Court made ‘a very unfortunate ruling’ on tariffs, Trump says

Trump is turning his attention to tariffs.

In case you missed it, the Supreme Court last week ruled the president’s sweeping tariffs were an overreach and therefore unlawful.

He says countries were “ripping us off for decades”, but the tariffs made way for fairer deals.

“And then just four days ago, an unfortunate ruling from the US Supreme Court just came down. It came down. A very unfortunate ruling,” he says.

“But the good news is that almost all countries and corporations want to keep the deal that they already made, knowing that the legal power that I, as president, have to make a new deal could be far worse for them.”

The president signposts that he is looking at other negotiation avenues, which are “a little more complex” but “will remain in place under alternative legal statutes” that have “tested for a long time”.

7h agoWed 25 Feb 2026 at 3:27am

Japan’s Nikkei share average rises to a record as AI disruption fears ease

Japan’s Nikkei share average climbed to another record on Wednesday, driven by a surge in tech-related stocks as investor apprehension over artificial intelligence disruption eased, and as the yen weakened.

The benchmark Nikkei 225 rose 1.4% to 58,122 points in early trade. The broader Topix was up 0.3% at 3,827 points.

“In the US, fears about AI have eased somewhat, prompting buying back of previously sold-off software names and likely boosting investors’ risk appetite,” said Takayuki Miyajima, a senior economist at Sony Financial Group.

IT services firm NEC Corp rallied 4.4%, after a 6.2% tumble the previous day. Peer Fujitsu rose 2.5%.

Semiconductor-related shares contributed the most to lifting the Nikkei index, with chip-testing equipment maker Advantest rising 3.5% and pushing the index up by nearly 200 points, while chipmaking equipment manufacturer Tokyo Electron’s 3.6% jump helped the index rise by almost 140 points.

Nomura Research Institute shares surged as much as 9% before retreating and were still up 6.2% following an announcement that the consulting firm had set up support services for introducing Anthropic’s Claude and would further collaborate with the AI lab.

Reporting with Reuters

8h agoWed 25 Feb 2026 at 3:21am

Market snapshotASX 200: +1% to 9,110 points (live values below)Australian dollar: +0.5% at 70.88 US centsS&P 500: +0.8% to 6,890 pointsNasdaq: +1% to 22,863 pointsFTSE: Flat at 10,680 pointsEuroStoxx: +0.2% to 629 pointsSpot gold: +0.7% to $US5,182/ounceSpot sliver: +2.5% to $US89.5/ounceBrent crude: +0.9% to $US71.39/barrelIron ore: +0.3% at $US98.95/tonneBitcoin: +2.4% to $US65,570Ethereum: +3.1% to $US1,911

Price current around 2:18pm AEDT

Live updates on the major ASX indices:

8h agoWed 25 Feb 2026 at 3:11amTime to do something on CGT discount: Ken Henry

Senate hearings into the capital gains tax discount and its role in Australia’s property market are in their third and final day.

I’m down at the Sydney hearings and up this afternoon is Ken Henry, former Secretary of the Treasury, who has cited the CGT discount as a factor in the intergenerational inequity in property ownership.

“Loss of opportunity grows injustice for younger Australians”, he said to the committee.

CGT is paid on the profits made from selling an asset. The current 50 per cent CGT discount allows Australians to only pay tax on half the profit if they have held the asset for 12 months.

The committee is hearing from experts on whether the discount should be scrapped.

When asked if he had the ear of the Prime Minister what he would say, Dr Henry said “it is time to do something”.

You can catch up on what we heard yesterday too: