Daily Market Update: 17 February 2026

Australian market overview

The S&P/ASX 200 Index (ASX: XJO) rose 19.50 points to 8967.10, with eight of 11 sectors advancing as technology stocks rebounded from last week’s artificial intelligence-driven sell-off. Gains in the technology sector, including WiseTech Global Limited (ASX: WTC) up 12.9 per cent, Xero Limited (ASX: XRO) up 7.6 per cent and TechnologyOne Limited (ASX: TNE) up 5.6 per cent, helped offset weakness in materials and profit-taking across major banks. Austal Limited (ASX: ASB) surged 19.5 per cent, recovering from Friday’s sharp decline after cutting earnings guidance.

Australian earnings and sector movers

The materials sector lagged as iron ore prices remained below US$100 a tonne, pressuring Fortescue Limited (ASX: FMG), down 4.7 per cent, BHP Group Limited (ASX: BHP), off 1.5 per cent, and Rio Tinto Group (ASX: RIO), which fell 4.1 per cent after suspending operations at its Simandou project. Financials were mixed, with Australia and New Zealand Banking Group Limited (ASX: ANZ) down 3.1 per cent and National Australia Bank Limited (ASX: NAB) lower by 1 per cent, while Westpac Banking Corporation (ASX: WBC) rose 0.2 per cent and Commonwealth Bank of Australia (ASX: CBA) gained 1.1 per cent; Bendigo and Adelaide Bank Limited (ASX: BEN) fell 2.2 per cent following its earnings update. In corporate results, The a2 Milk Company Limited (ASX: A2M) advanced 6.8 per cent after upgrading guidance, JB Hi-Fi Limited (ASX: JBH) climbed 7.5 per cent on stronger profit, and Aurizon Holdings Limited (ASX: AZJ) added 7 per cent after lifting its interim dividend, while Treasury Wine Estates Limited (ASX: TWE) dropped 5.2 per cent after reporting a first-half loss and scrapping its interim dividend; Qube Holdings Limited (ASX: QUB) rose 3.3 per cent on an agreed sale to Macquarie Asset Management, and Ansell Limited (ASX: ANN) gained 3.8 per cent after beating profit expectations.

Global markets and commodities

United States markets were closed for the Presidents Day holiday, limiting offshore leads, while Brent crude traded near US$67.8 a barrel after recording its first consecutive weekly declines of the year. Japan’s economy grew 0.1 per cent quarter-on-quarter in the fourth quarter of 2025, rebounding from a 0.7 per cent contraction but missing expectations, as modest gains in business investment were offset by weak consumption and flat government spending, while trade made no contribution despite easing tariff pressures. Meanwhile, India’s merchandise trade deficit widened sharply to US$34.68 billion in January 2026 as imports surged 19.2 per cent, far outpacing a 0.6 per cent rise in exports, ahead of a new trade agreement with the United States that reduced tariffs on Indian goods to 18 per cent and forms part of broader efforts to deepen ties with major global partners.