Sydney, Feb 19, 2026, 01:00 AEDT — The session’s finished.
- The ASX 200 pushed up 0.54% to close at 9,007 on Wednesday—its third day in the green.
- NAB climbed to an all-time high after posting a strong quarterly update. TechnologyOne also shot up, buoyed by its improved outlook.
- Wage growth showed no change, while investors focused on upcoming Fed minutes set for release later in the U.S. session.
Australian shares closed higher on Wednesday, with the S&P/ASX 200 climbing 0.54% to end at 9,007.0, reclaiming the 9,000 mark. National Australia Bank surged to a record on upbeat bank earnings, and tech names led the advance. Materials ended as the lone sector in the red.
The benchmark hasn’t quite cracked its October peak of 9,094.7, but it’s sitting close. Traders are shifting focus, locking onto company moves rather than the bigger macro noise. That record is right there—almost close enough to grab.
Macro drivers aren’t taking center stage. Australia’s wage price index ticked up 0.8% in the December quarter, leaving annual growth at 3.4%. Traders have started to price in about a 60% chance the Reserve Bank of Australia goes for another hike in May, after bumping rates to 3.85% earlier in the month, Reuters reports.
National Australia Bank (NAB.AX) surged up to 5.8% and marked a record A$47.96 after reporting first-quarter cash earnings of A$2.02 billion, a 16% jump from a year ago. Net interest margin edged higher to 1.80%. The lender’s common equity tier 1 ratio slipped to 11.48%. “NAB is well placed to manage our bank for the long term,” CEO Andrew Irvine said. Reuters
TechnologyOne (TNE.AX) jumped 8.2%, closing at A$23.50 after the company bumped up its fiscal 2026 guidance during the annual meeting. The move comes as demand for its latest product gains traction. “The feedback we are getting for Plus is amazing,” CEO Ed Chung told investors. Courier Mail
BlueScope Steel (BSL.AX) jumped on renewed takeover chatter after SGH (SGH.AX), led by Kerry Stokes, together with U.S.-based Steel Dynamics (STLD.O), sweetened their offer to A$32.35 per share—calling it their “best and final” bid. But the stock finished the day at A$28.56. The gap pointed to investors’ skepticism about a deal getting done. “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
Wages barely budged, according to the ABS, which highlighted its wage price index as a gauge of underlying wage shifts stripped of bonuses, overtime, and impacts from people changing jobs. “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 remain the main gauge until Sydney gets back online. Eyes are on the Fed minutes from January, due out Wednesday, with investors searching for clues on why the benchmark stayed at 3.5% to 3.75%. Powell summed it up: “We still have some tension between employment and inflation, but it’s less than it was.” Reuters
Even so, the climb toward new highs feels shaky. Should the Fed minutes suggest rate cuts are postponed once more, banks and real estate could lose ground fast, wiping out their latest advances. Commodities wobble? Miners catch the brunt—they don’t get a pass.
Coming at 2 p.m. EST, the Fed minutes will hit, arriving in Australia just ahead of the ASX open.
