Banks, miners power Australian shares higher

Hub24

19/02/2026 24:17

Feb 19 (Reuters) -
Australian shares rose on Thursday after top business lender National Australia Bank lead banks to record-high levels a day after logging a stronger profit, while miners magnified overall gains as commodity prices trended higher.

The S&P/ASX 200 index .AXJO rose 0.8% by 2333 GMT, inching closer to its all-time high of 9,115.20 points. The benchmark rose 0.5% on Wednesday.

The financials sub-index .AXFJ was up 1.3% after briefly touching an all-time high, as National Australia Bank NAB.AX extended gains to hit its highest ever level on posting stronger quarterly profits a day ago.

The rest of the "Big Four" lenders followed, gaining between 1.4% and 2.3%. Top lender Commonwealth Bank of Australia CBA.AX hit its highest level since mid-August 2025 earlier in the session.

        Meanwhile, the mining sub-index .AXMM rose 1.4% after copper prices strengthened on dip buying and a recovery in technology stocks. MET/L

Shares of BHP , the world's top copper producer, gained 1.2%, while Anglo-Australian peer Rio Tinto RIO.AX rose 2%, ahead of its full-year results due later in the day.

Gold stocks .AXGD boosted the sub-index as bullion prices surged on geopolitical risks. Shares of Northern Star Resources  and Evolution Mining  added 1.1% and 1.5%, respectively.

Whitehaven Coal WHC.AX fell as much as 6.3% to limit overall gains after Australia's top independent coal miner swung to a surprise first-half loss as weak prices weighed.

Shares of Wesfarmers WES.AX, Australia's biggest non-food retailer, fell by their most in over three months after posting a weaker-than-expected start to the second-half as consumers grappled with persistent high living costs. The discretionary sub-index .AXDJ fell 2.4%.

Shares of Telstra TLS.AX soared 3.2% after the top telecom firm beat half-year profit estimates, while increasing its share buyback programme.

New Zealand's benchmark S&P/NZX 50 index .NZ50 gained 0.7% to 13,337.09 points, a day after the central bank left its benchmark rate unchanged.

 (Reporting by Nichiket Sunil in Bengaluru; Editing by Alan Barona)

 ((Nichiket.Sunil@thomsonreuters.com))

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