17 February 2026

The Australia 200 trades 37 points (0.42%) higher at 8974 as of 2.40pm AEDT.

ASX 200 rallies as BHP shines with record gains

The Australia 200 (ASX 200) is on track for a second consecutive day of gains, recovering from Friday’s sharp 125-point (1.39%) drop. With United States (US) markets closed overnight for Presidents' Day, and several Asian markets shut for Lunar New Year, local earnings have taken centre stage, and BHP Group has notably dominated the spotlight.

BHP Group delivered a blockbuster half-year (HY) 2026 result, pushing its share price up more than 7.5% to a record high of $54.20 before easing back to close 6.36% higher at $53.38.

Revenue rose 11% year-over-year (YoY) to US$27.9 billion, underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped 25% to US$15.5 billion, and underlying attributable profit climbed 22% to US$6.2 billion. The real sweetener for investors was the dividend, which was lifted 46% to US$0.73 per share (fully franked for Australian holders), representing a 60% payout ratio.

Within the results, copper was the clear standout, contributing a record 51% of group EBITDA, aided by record production and shipments. BHP also increased its full-year (FY) copper guidance and mapped out a path to 2.5 million tonnes per annum of copper equivalent by FY 2035. Strong volumes and lower unit costs in Western Australian iron ore added to what was an exceptionally clean beat, reinforcing confidence in BHP as a key player in the ongoing commodity upcycle.

Hawkish RBA minutes influence economic outlook

On the economic front, the Reserve Bank of Australia (RBA) minutes from its February meeting conveyed a distinctly hawkish tone, reinforcing the message that interest rates may need to stay higher for longer. The board unanimously raised the cash rate to 3.85% and described inflation as 'stubbornly high' and more broad-based than expected. Members also noted that financial conditions had eased too much following last year’s cuts and stressed the need to do 'what it considers necessary' to bring inflation back to the 2% – 3% target band sustainably.

Tomorrow sees earnings reports from companies including Suncorp, Dexus, Santos, Magellan Financial Group, and National Australia Bank.

ASX 200 stocks

Consumer discretionary sector

• Baby Bunting Group rallied more than 12.5% to an intraday high of $2.48 before paring gains to trade around $2.30, still up 4.55%. This upward movement followed a solid first-half result, with revenue increasing 6.7% to $2714 million, and underlying net profit after tax (NPAT) jumping 44% to $7.2 million. The company also upgraded its full-year outlook, with store refurbishments driving a meaningful lift in sales.

Materials sector

• Sims Limited opened more than 2% higher at $21.72 following its results, but the stock later reversed to trade down at $19.82. That pullback occurred despite a strong underlying performance: revenue grew 3.7% to A$3,778.6 million, underlying NPAT surged 70.9% to A$60 million, and the dividend was increased 40% to $0.14 fully franked. However, the market focused on a statutory net loss of A$29.9 million, compared to a profit a year ago, driven by significant one-off items.

ASX 200 technical analysis

Last Monday’s rebound from the support zone just below 8700 (which included the 200-day moving average at 8692.3 and the year-to-date low at 8675.6) saw the ASX 200 retest the 9115.2 record high on Thursday, in line with expectations.

Following its intraday rejection from this level, we moved back to a neutral bias, with a sustained break of the 9105 - 9115 double top needed to open the way for the ASX 200 to make further gains towards 9400 - 9500.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 17 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.}