Australia's BlueScope Steel rises on buyback plans, stronger HY results

BLUESCOPE STEEL

15/02/2026 23:45

** Shares of BlueScope Steel BSL.AX rise as much as 3.2% to A$30.10, logging their strongest intraday trading session since January 15

** Stock hits its highest level since February 3

** Co announced A$310 mln ($219.08 mln) buyback; reported 118% increase in HY NPAT to A$391 mln

** Co expects to rebase shareholder returns higher, to now target distribution of at least 75% of free cash flow to shareholders

** BSL has flagged more aggressive shareholder returns and gearing settings, which will be well received by the  market in our view, though we would expect focus on softer 2H26 outlook/quality - Jarden

** Stock up 23.5% YTD, including the day's moves

($1 = 1.4150 Australian dollars)

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))