Sydney, Feb 19, 2026, 01:00 AEDT — The session has wrapped up.
- The ASX 200 climbed 0.54% to finish at 9,007 on Wednesday, marking its third consecutive advance.
- NAB hit a record after its robust quarterly update. TechnologyOne surged too, following an upgraded outlook.
- Wage growth held flat, with investors eyeing the Fed minutes expected later in the U.S. session.
Australian stocks finished Wednesday back over 9,000, lifted by bank results and a rally in tech that sent National Australia Bank to an all-time high. The S&P/ASX 200 index gained 0.54% to 9,007.0. Tech shares were out in front, while materials lagged as the only sector down on the day. (Market Index)
The benchmark’s still hovering just shy of its record 9,094.7 mark from October, with traders now tuning in to company news over broader macro chatter. It’s practically within touching distance. (Australian Securities Exchange)
Macro factors remain on the sidelines. Australia’s wage price index climbed 0.8% for the December quarter, with annual growth steady at 3.4%. Markets are now factoring in roughly a 60% probability of another Reserve Bank of Australia hike in May, after the central bank raised rates to 3.85% earlier this month, according to Reuters. (Reuters)
Shares of National Australia Bank (NAB.AX) jumped as much as 5.8%, hitting an all-time high of A$47.96, after the lender unveiled first-quarter cash earnings of A$2.02 billion—up 16% from the same period last year. Net interest margin ticked up to 1.80%. The bank’s common equity tier 1 ratio, meanwhile, dipped to 11.48%. “NAB is well placed to manage our bank for the long term,” CEO Andrew Irvine said. (Reuters)
Shares of TechnologyOne (TNE.AX) surged 8.2% to A$23.50 after the company lifted its guidance for fiscal 2026 at its annual meeting, pointing to rising demand for its newer product. “The feedback we are getting for Plus is amazing,” CEO Ed Chung told investors. (Courier Mail)
BlueScope Steel (BSL.AX) shares caught a lift on takeover rumors. SGH (SGH.AX), controlled by Kerry Stokes, together with Steel Dynamics (STLD.O) from the U.S., bumped their bid to A$32.35 a share, labeling it their “best and final” offer. Still, BlueScope closed at A$28.56, showing investors weren’t convinced the deal would get across the line. “Given the very strong rejection of the initial offer, there is a reasonable chance they still reject it,” said Joseph Koh, portfolio manager at Blackwattle Investment Partners. (Reuters)
The ABS reported wages held steady, pointing to its wage price index—which aims to capture “pure” wage changes, excluding factors like bonuses, overtime, or job-switching. “Quarterly wage growth of 0.8 per cent was in line with the September quarter 2025,” said Michelle Marquardt, ABS head of prices statistics. (Australian Bureau of Statistics)
Offshore rates are holding as a key reference until Sydney trading picks up again. Investors are watching for Fed minutes from the January meeting, which land later on Wednesday, looking for more detail on why policymakers left the benchmark rate stuck at 3.5% to 3.75%. Chair Jerome Powell put it this way: “We still have some tension between employment and inflation, but it’s less than it was.” (Reuters)
Still, the path to fresh highs looks fragile. Any hint from the Fed minutes that rate cuts might be delayed again could quickly knock back banks and real estate, stripping away those recent gains. And if commodities stumble, miners end up vulnerable, not sheltered.
Next up: the Fed minutes land at 2 p.m. EST, dropping in Australia before the ASX bell. (federalreserve.gov)
