Daily Market Update: 27 February 2026

ASX (ASX:XJO) extends record run as Nvidia lifts tech; BHP (ASX:BHP) hits best-ever close

The Australian sharemarket extended its record-breaking run on Thursday as AI-driven turmoil eased and a strong reporting season continued to underpin sentiment. The S&P/ASX 200 rose 47 points, or 0.5 per cent, to 9,175.3 after touching an intraday record of 9,202.9 – leaving the index up about 3.5 per cent for February and on track for its strongest month since April. Technology led the advance after Nvidia (NYSE:NVDA) posted record quarterly revenue overnight – Megaport (ASX:MP1) surged 12.6 per cent, Xero (ASX:XRO) 8.6 per cent, TechnologyOne (ASX:TNE) 6.4 per cent and WiseTech (ASX:WTC) 2.6 per cent. Healthcare also rallied, with Ramsay Health Care (ASX:RHC) climbing 10.4 per cent after underlying profit of $172 million beat expectations, and Pro Medicus (ASX:PME) jumping 9.8 per cent. BHP (ASX:BHP) hit its best-ever close at $57.75, up 2.2 per cent and taking its gains for the week past 8 per cent, while Rio Tinto (ASX:RIO) added 3.7 per cent as copper and iron ore firmed. BlueScope Steel (ASX:BSL) fell 2.3 per cent after rejecting a $14.2 billion takeover proposal from SGH and Steel Dynamics, saying the offer undervalued the company. Industrials were weaker, with Qantas (ASX:QAN) tumbling 9.2 per cent to a two-month low after concern about lagging international operations overshadowed a better-than-expected profit, and Worley (ASX:WOR) dropping 10.2 per cent as $82 million in restructuring charges dragged profit down by around a third.

IDP Education (ASX:IEL) surges on guidance upgrade; Cettire (ASX:CTT) plunges 26% on profit swing

In other earnings news, IDP Education (ASX:IEL) surged 7.6 per cent to $4.94 after its first-half result beat expectations and it upgraded full-year earnings guidance to $120–130 million. Super Retail Group (ASX:SUL) gained 8.4 per cent as sales rose, despite first-half profit falling 20 per cent due to heavier discounting in its auto and sports divisions. Perpetual (ASX:PPT) climbed 8.3 per cent after first-half earnings beat forecasts despite ongoing uncertainty over the sale of its wealth management division. DroneShield (ASX:DRO) rallied 8.9 per cent after securing $21.7 million in counter-drone military contracts. oOh!media (ASX:OML) jumped 5.3 per cent after announcing an on-market buyback of up to 10 per cent of issued capital. At the other end, Cettire (ASX:CTT) plunged 25.6 per cent to 33.5¢ after swinging to a net loss of $1.1 million from a $4.7 million profit a year earlier, with revenue falling 2.8 per cent and management flagging third-quarter challenges.

Nvidia (NYSE:NVDA) tumbles 5.5% as blockbuster result fails to ease AI doubts; Salesforce (NYSE:CRM) steadies software nerves

Wall Street finished mixed on Thursday as Nvidia (NYSE:NVDA) tumbled 5.5 per cent – its worst session in 10 months – despite easily beating expectations, with fourth-quarter revenue surging 73 per cent to US$68.1 billion and first-quarter guidance of US$78 billion topping the US$72.8 billion consensus. The Nasdaq fell 1.2 per cent and the S&P 500 lost 0.5 per cent, though the Dow was essentially flat, up 0.03 per cent, as around 350 of the S&P 500’s constituents actually advanced. Investors were unimpressed by the beat, instead fixating on Nvidia’s ability to defend its margins as AI shifts from training to inference, while short-seller Michael Burry flagged the company’s purchase obligations ballooning to US$95.2 billion from US$16.1 billion a year earlier. Salesforce (NYSE:CRM) provided some relief for the battered software sector, climbing nearly 4 per cent after guiding for US$63 billion in annual revenue by fiscal 2030 – ahead of the US$60.3 billion Wall Street expected – and announcing a US$50 billion buyback, with Agentforce AI recurring revenue hitting US$800 million. Treasury yields fell four basis points to 4.01 per cent, oil slipped 0.3 per cent to US$65.21 a barrel as US-Iran nuclear talks showed progress, and the dollar wavered.