The S&P/ASX 200 rose 0.5% to around 9,060 in early Thursday trade, extending the previous session’s 1.7% rally to a fifteen-week high as robust corporate earnings continued to buoy sentiment. Gains were led by the heavyweight financial sector, which advanced 1.6% after Commonwealth Bank of Australia, the country’s largest lender, delivered a better‑than‑expected result on Wednesday, setting a constructive tone for the earnings season. ANZ Group, Australia’s fourth-largest bank, also reported a solid 6% rise in first-quarter cash profit, propelling its shares 7% higher to a record level.
Beyond financials, gold miner Northern Star added 3.4% after posting a 41% increase in first-half profit on the back of stronger gold prices. Energy firm Origin Energy climbed 4.4% after beating first-half earnings expectations, supported by a strong performance in its electricity business. Offsetting some of these gains, biotech heavyweight CSL dragged on the index following a decline in first-half profit and news of its CEO’s departure, while technology stocks followed their US counterparts lower.
