Market Wrap / rock solid results

It was a big day on the earnings front, led by BHP, which smashed expectations as revenue climbed 11% to around US$28 billion. Investors cheered the result, sending shares to a record intraday high, before closing up 5.1% to $52.92.

The strength spilled over into the broader market, with the S&P/ASX200 gaining 0.24% across the session.

However, the rally wasn’t universal across materials. Evolution Mining failed to ride the wave, sliding 1.8%, whilst Rio Tinto had a late afternoon recovery, rising 0.2%. 

In financials, Judo Capital delivered a strong first-half performance, posting a 46% lift in profit to $60 million, with the market rewarding the result as shares rose 2.4%.

By contrast, Challenger reported net profit of $339 million, up $72 million on the previous year, but investors remained unconvinced. Even a $150 million share buyback announcement wasn’t enough to stop the stock falling 2.4%.

Meanwhile, Seek narrowed its FY26 guidance after booking a $178 million first-half loss tied to its investment in a Chinese jobs platform, with shares dropping 3.3% during trade.

Rounding out the session, Baby Bunting reported net profit of $5 million at the smaller end of the market, up 4% on the prior year, helping lift its share price by 8.6%.

Tonight, US markets reopen, while crucial January UK unemployment benefits data is published.