Sydney, Feb 28, 2026, 17:54 AEDT — Market closed.
The S&P/ASX 200 wrapped up Friday at 9,198.60, a 0.25% move higher for the session. That’s a gain of roughly 1.3% over the last five days, setting another record as the index goes into the new week.
After a run that handed the benchmark its strongest February in five years, investors kept chasing company earnings, even as worries over rates lingered. Miners finished higher. Banks and consumer staples slipped. Block Inc’s local shares soared 27.8% as the company announced it would slash nearly half its workforce, shifting focus toward AI. Coles Group, meanwhile, dropped 7.4% following an 11% decline in half-year profit, squeezed by stiffer rivalry from Woolworths.
The index broke past the 9,200 mark for the first time on Thursday, lifted by gains in mining, healthcare, and notably strong action in tech shares. Earlier in the week, data showed January consumer prices climbed beyond forecasts, while core inflation touched its highest point in over a year. Interest-rate swaps — a key gauge of policy bets — are now pricing in an 82% probability that the RBA will stay put at 3.85% in March, but those odds flip to a 70% chance of a hike by May.
The higher the index climbs, the less room there is if earnings fall short or rate worries return. Craig Sidney, senior investment adviser at Shaw and Partners, flagged “a pullback from current levels” as likely. He cited stretched valuations, thinner dividend yields and added pressure from stocks moving ex-dividend—meaning shares lose rights to the upcoming payout. Indo Premier
Coles put out the numbers—revenue up 2.5% to A$23.6 billion, underlying net profit after tax (ex-items) jumping 12.5% to A$676 million, and the interim dividend holding steady at 41 Australian cents. The retailer pointed to 3.7% supermarket sales growth for the early weeks of Q3, but Woolworths’ 5.8% over the same stretch set the pace. The market barely paused.
The Australian dollar hovered near 71.26 U.S. cents as the weekend began, with traders focused on shifting out of heavily trafficked growth names. “The rotation from tech to non-tech continues,” AMP’s Shane Oliver said in a weekly note, according to ABC. ABC News
Risk appetite offshore faltered late in the week, with global equities slipping Friday as investors fretted over AI-driven uncertainty and stretched valuations. Oil prices, meanwhile, found support amid rising U.S.-Iran tensions. This cautious sentiment could bleed into early-week futures, shaping how miners and financials kick off trading.
Australia’s December 2025 national accounts hit on March 4 at 11:30 a.m. AEDT, setting the stage ahead of the Reserve Bank of Australia’s Monetary Policy Board meeting on March 16–17. Both are expected to factor directly into futures pricing and could jolt leadership in the bank-dominated index.
