S&P/ASX 200 opened higher on Thursday due to earnings-led action in major stocks, with Objective Corporation, Codan, and Super Retail Group being among the session leaders, while Megaport and Sonic Healthcare experienced sharp declines.
Source: ASX 200 Today
Which are the stocks that pushed the ASX 200 up today?
Objective Corporation leapt 20.39% to $22.88 when it released its results and was the largest winner in the index. Super Retail Group climbed 13.13% to $18.70, while Vault Minerals rose 11.90% to $0.47. Codan rose 11.60% to $26.42, with Brambles rising 8.09% to $25.11.
Downer EDI gained 5.99% to $7.35 on the back of stronger-than-expected results. Telix Pharmaceuticals, West African Resources, Austal, and Iperionx also gained early in trade. The charge was led by the blue-chip group of companies beating on earnings and providing strong trading updates.
What happened with Brambles, Codan, and Super Retail?
Brambles delivered a strong full-year, recording increased operating profit, better return on capital, and greater dividends. While sales were short of expectations by a small margin, its FY26 guidance indicated steady profit expansion and a share buy-back suggestion.
Codan also surprised with the uptick in revenue, EBITDA, and NPAT all guiding higher. Its dividend rose 27%, fueled by positive commentary on FY26. But given the stock’s 75% rise this year, some did say valuation pressures would take away from upside in the future.
Super Retail Group’s earnings were stronger than anticipated, boosted by the growth in sales and firm margins. The group declared a final and special dividend, though the latter was slightly above expectations. There was a trading update detailing steady sales growth and plans to expand the number of stores.
Why did Megaport shares fall so dramatically?
Megaport declined 18.18% to $12.11, the biggest loser on the ASX 200. The company’s full-year revenue and EBITDA margin numbers were modestly ahead of expectations, but capital expenditure guidance spooked.
FY25 capex was 14% above guidance, and FY26 forecast indicated up to 73% above-guidance spend. This guided around the bad and outweighed top-line beat, causing heavy selling pressure in early trade.
What weighed on Sonic Healthcare shares?
Sonic Healthcare reported FY25 net profit of $514 million, 7% higher, and sales lifted 8% to $9.6 billion. Even the better numbers weren’t sufficient for the business, however, after the lack of detailed guidance for FY26 damped the appetite of investors.
Shares fell 10.16% to $25.82 in morning trade. The update surprised the investors, bringing the stock down despite the management’s optimism on future earnings growth.
What other stocks had major movements?
James Hardie fell 8.11% to $29.41, carrying losses after softer guidance at the start of the week. Auckland International Airport fell 3.24% to $6.86, and Insurance Australia Group fell 2.64% to $8.86.
Mid-sized stocks Spark New Zealand, Whitehaven Coal, Fletcher Building, Magellan Financial Group, and Netwealth all fell early. West African Resources and Austal, though, rose more than 4% each, supported by stronger commodity prices and solid operational reports.
Market Outlook
The ASX 200 gained 0.65% in initial trading, driven by earnings strength from Codan, Super Retail Group, and Brambles. Prominent falls in Megaport and Sonic Healthcare, however, weighed on the session, with the reporting season having been patchy with guidance having been determinative of market sentiment.
