12 February 2026

The Australia 200 trades16 points (0.18%) higher at 9031 at 3.45pm AEDT.

ASX 200 edges higher amid profit-taking and earnings flurry

The Australia 200 (ASX 200) surged 90 points in early trading to a high of 9105 – coming to within 10.2 points of the 9115.2 record high it reached in October – before giving back all but 16 points of those gains into the close.

The retreat was driven by profit-taking as investors moved to lock in gains after the local bourse's impressive 400-point (4.6%) rally from last Friday's low of 8683.

While index-level action has been notable, today was another busy one for earnings reports, featuring a fairly balanced mix of beats and bombshells. Crucially, heavyweight stocks such as the banks continue to perform well, outweighing the impact of disappointments in lower-weighted constituents and keeping the broader upside momentum intact.

ASX 200 stocks

Winners

• Australia and New Zealand Banking Group Limited (ANZ) soared 8.06% to $40.21 after reporting a 17% jump in first-quarter (Q1) cash profit to $1.94 billion, driven by sharp cost cuts that reduced its cost-to-income ratio to 49.5% – below 50% for the first time, marking its best daily gain since 2020.
• Origin Energy lifted 4.16% to $11.53 as investors welcomed its half-year (HY) 2026 earnings, which beat key expectations despite headline profit declines. Statutory profit fell to $557 million, from $1.017 billion, and underlying profit to $593 million, from $924 million. However, despite the weaker numbers, its shares rose after management upgraded full-year energy markets guidance to $1.55 - $1.75 billion and highlighted stronger cash flow.
• Breville Group initially plunged over 6.5% to $31.24 after its HY 2026 results showed gross margin compression of 130 basis points (bp), driven by US tariffs on China-sourced goods and cost pressures that offset strong revenue growth. The stock then rebounded to be trading 1.20% higher at $33.85 as investors focused on record sales, resilient premium demand (especially for coffee appliances), effective tariff mitigation via supply chain shifts, steady earnings before interest and taxes (EBIT), and a higher dividend.
• Northern Star Resources advanced 3.40% to $29.21, driven by its strong HY 2026 earnings release. The company reported underlying net profit after tax up 49% to A$759.8 million (beating estimates), underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) up 34% to a record A$1.876 billion, and revenue up 19% to A$3.414 billion, fueled by a 31% higher realised gold price (A$4,670/oz) despite lower volumes. The board declared a fully franked interim dividend of A$0.25 per share, unchanged year on year, but the market rewarded the robust profit and cash generation.

Losers and market shifts

• Temple & Webster dived 31.82% to $7.73 after its HY 2026 results disappointed despite revenue growth of 20% to $375.9 million (beating estimates) and underlying EBITDA up 28% to $15.9 million (above forecasts). The sharp sell-off stemmed from a 36% drop in net profit to around $5.8 million, margin pressure (gross margin down, EBITDA margin near the lower end of guidance), and concerns over slower growth acceleration in a competitive online retail environment with rising costs and promotions.
• AMP plunged 27.65% to $1.26 following its full-year results, which missed market expectations and triggered the sharpest single-day drop since 2003. The company reported a 20.8% increase in underlying net profit after tax (NPAT) to A$285 million. However, its statutory NPAT fell 11.3% to A$133 million, primarily due to A$95 million in legacy litigation and remediation costs. Disappointing guidance on future profitability and turnaround progress further weighed on sentiment, with investors punishing the stock for the persistent execution issues despite some cost-cutting efforts.
• Pro Medicus cratered 22.68% to $131.02 despite record HY 2026 results, as its results missed consensus estimates across the board. Revenue reached $124.8 million, up 28.4% year-over-year (YoY) but 2% below forecasts, while underlying EBIT came in at $90.1 million (30% higher than the prior year but 10% short of forecasts). The sharp drop reflected high expectations already priced in, with the premium valuation and the impact of the higher AUD/USD.

ASX 200 technical analysis

Last Friday saw the ASX 200 break below the 200-day moving average at 8692.3, before running into support ahead of the year-to-date low of 8675.6.

Monday's stunning rebound from this support zone, followed by subsequent gains, is in line with our expectations for a retest of the 9115.2 record high.

A sustained break of the 9115 high opens the way for further gains towards 9500.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 12 February 2026. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}