Sydney, Feb 10, 2026, 21:41 AEDT — The session wrapped with the market now closed.
- The S&P/ASX 200 edged down by 2.7 points, closing at 8,867.40 as insurance brokers took a hit.
- Miners and tech stocks climbed. Still, financials and healthcare dropped, holding the benchmark in check.
- Next up: a packed earnings slate, with Commonwealth Bank and CSL due to report Wednesday.
Australian stocks closed almost flat Tuesday, the S&P/ASX 200 shedding just 2.7 points, or 0.03%, to settle at 8,867.40. Insurance brokers took a hit as renewed AI competition fears surfaced. Miners, gold names, and tech all moved higher. “A peer releasing an app has wiped billions off the market capitalisations of the insurance broking sector,” said Luke Winchester, portfolio manager at Merewether Capital. 1
After Monday’s relief rally, the market closed flat, choppy as February reporting season picks up. Traders have been snapping up battered growth stocks on the dip, only to bail at the first sign of fresh headlines. 2
The spark for Australia’s insurance rout came from overseas. Over in the U.S., shares of brokers like Willis Towers Watson, Aon, and Arthur J. Gallagher dropped after Insurify rolled out a ChatGPT-based AI comparison tool. That pressure didn’t stop at the border—European insurers also took a hit. 3
CSL shares dropped 5% after the biotech disclosed that chief executive Paul McKenzie is stepping down, with Gordon Naylor stepping in as interim CEO before its half-year results. David Tuckwell, chief investment officer at ETF Shares, described Naylor’s appointment as “possibly a salvage mission” as CSL looks to stabilize sentiment following a rough stretch for the stock. 4
ASX Ltd climbed 0.5% after announcing CEO Helen Lofthouse will leave in May. The exchange is still targeting an April milestone for the first phase of its CHESS replacement, the Clearing House Electronic Subregister System that manages clearing, settlement and share ownership. “The leadership transition now places renewed emphasis on delivery, operational resilience and rebuilding market confidence,” said Marc Jocum, senior product and investment strategist at Global X ETFs. 5
Treasury Wine Estates surged more than 8% after resolving its dispute with U.S. distributor Republic National Distributing Company, which centered on shutting down its California business. The winemaker also raised its projection for first-half EBIT to approximately A$236 million. Omkar Joshi, founder and CIO at Opal Capital Management, called the jump “primarily a relief rally”. 6
Macquarie Group grabbed the spotlight after its third quarter update flagged improved conditions in major divisions, sending shares up as much as 4% at one point. UBS described the update as strong, though it noted the 2026 tax rate came in higher than they’d anticipated. Citi, for its part, saw most of the briefing as matching forecasts. 7
G8 Education is bracing for a non-cash goodwill impairment of roughly A$350 million in its full-year numbers, stepping away from the blue-chip crowd. The childcare group said it’s scrapping its final dividend for the year ended Dec. 31, 2025, and will hit pause on its on-market share buyback until there’s more certainty around occupancy rates and industry conditions. 8
Even so, it was a day investors have seen before—just a couple of steep drops in individual names kept the index in check, despite gains among commodity-linked stocks. Now, there’s a fresh concern: the “AI disruption” tag could rapidly stick to financials and fee-driven firms, just as earnings calls begin shaping the outlook for the coming quarter.
Fresh catalysts are just ahead. Commonwealth Bank’s half-year numbers drop Feb. 11, while CSL is also set to post its half-year result and reveal its interim dividend on Wednesday. Investors aren’t chasing headline surprises this round—they’re looking for signals on what’s next. 9
