24 February 2026

The Australia 200 trades 5 points (0.06%) lower at 9020 as of 3.10pm AEDT.

Market resilience amid Wall Street declines

The ASX 200 looks set to close near the flat line today, shaking off a negative session on Wall Street. Losses on Wall Street came as investors played another round of 'whack-a-mole', identifying potential losers from artificial intelligence (AI) disruption. Renewed uncertainty over United States (US) trade policy also weighed on US equity markets.

The outperformance of the ASX 200 comes after the Supreme Court of the US struck down President Trump's International Emergency Economic Powers Act (IEEPA) tariffs, which have since been replaced by a 15% global tariff under Section 122. This is positive news for the Australian economy and the ASX 200, following yesterday's 'shoot first, ask questions later' type session.

How tariff changes benefit the ASX 200:

Firstly, this move will result in the average level of tariffs being reduced, which is a positive for global growth. US investment bank Morgan Stanley estimates replacing IEEPA with Section 122 lowers headline tariffs from approximately 13% to 11%, while Goldman Sachs views it as reducing the effective tariff rate from just over 10% to 9%.

Secondly, one of the major beneficiaries of the Supreme Court decision is expected to be China, the world’s second-largest economy and Australia's largest trading partner. China is predicted to see a net reduction in tariffs of roughly 5 to 8 percentage points compared to the pre-ruling IEEPA peak, suggesting potential upside risks to the Chinese and global economy. This reduction should more than offset the increase in the Australian tariff rate from 10% to 15%.

Earnings highlights

It was another busy day of earnings featuring the following highlights. 

Winners

• Kelsian Group rose 9.17% to $4.23 following record first-half (H1) FY 2026 results, with revenue up 10.6% to $1.19 billion and underlying net profit after tax (NPAT) up 32.2% to $52.5 million, prompting an upgrade to full-year FY 2026 underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) guidance of $303 to $312 million.
• Viva Energy surged 8.38% to $1.87, driven by a strong FY 2025 result that delivered revenue of $34.8 billion, underlying EBITDA of $1.2 billion (up 12% year-over-year (YoY)), and statutory NPAT of $682 million, underpinned by resilient fuel margins, strong retail performance, and disciplined cost management.
• Monadelphous jumped 7.48% to $32.88 after a strong HY 2026 result, with revenue up 18% to $1.98 billion, underlying NPAT rising 25% to $68.5 million, and the company lifting its full-year FY 2026 guidance for revenue and earnings before interest and tax (EBIT) amid resilient demand in resources and energy.

Losers

• Adore Beauty fell 24.42% to $0.65 after its earnings showed revenue of $111.9 million (up 8.7%), gross profit margin of 35%, underlying EBITDA of $4.1 million (14.5% pre-AASB 16), and strong customer growth, including 850,400 active customers (4.7%) and 221,700 new customers (21.8%). Despite positive metrics and outperformance during the key November-December trading period, the market reacted sharply negatively to margin pressure and softer consumer trends in online beauty retail.
• ARB Corporation dropped 13.41% to $21.27 after posting a significant 18.8% decline in its reported profit before tax to $57.1 million, and a 16.3% drop in its underlying profit before tax (excluding non-operating items) to $57.95 million.

Key upcoming releases

Tomorrow's key release is the January monthly consumer price index (CPI) at 11.30am AEDT, with markets closely watching for evidence of cooling in headline and trimmed-mean inflation. A busy earnings calendar continues, with Iress, Woolworths, Flight Centre, Bapcor, and Domino’s Pizza due to report.

ASX 200 stocks

Materials sector

Beyond earnings reports, ASX-listed lithium miners surged today on renewed optimism around lithium prices, which have rebounded sharply due to tightening supply and stronger-than-expected demand from electric vehicles (EVs) and battery energy storage systems (BESS).

• Core Lithium surged 9.52% to $0.23
• Liontown Resources popped 9.28% to $1.82
• Iluka Resources gained 8.11% to $5.73
• Pilbara Minerals lifted 7.32% to $4.69.

ASX 200 technical analysis

We are currently neutral on the ASX 200, needing a sustained break above resistance at 9115 - 9125 to pave the way for further gains towards 9400 - 9500.

Until then, allow for consolidation and rotation below the 9115 - 9125 resistance zone.

ASX 200 daily candlestick chart

• _{Source: TradingView. The figures stated are as of 24 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.}