Stock Market in Australia Remains Upward Trend during Midday Trading
The Australian market is extending its early gains on Thursday, pushing the S&P/ASX 200 above the 9,000-point milestone for the first time. This momentum is a reflection of strong corporate earnings and broad sector participation.
Key contributors to this growth include the industrials, financials, and consumer stocks sectors. Notable standouts among these companies include Transurban, Brambles, ANZ, Westpac, NAB, Woolworths, CSL, and Super Retail, which surged 13.1% on better-than-expected earnings.
Transurban rose around 2.5% following a Citi upgrade, while Brambles jumped 10.7% due to a strong outlook and a $622 million buyback program. The big financial stocks ANZ, Westpac, and NAB each gained more than 1%, adding substantial weight to the index. Consumer stalwarts Woolworths and CSL saw gains of 2.7% and 1.9% respectively, with buyers returning after recent losses.
Super Retail was a standout with a 13.1% leap after stronger-than-expected earnings, while other notable performers included Downer EDI (+5.3%) and Bega Cheese (+8.2%). However, some stocks like James Hardie fell 10.6% following earnings downgrades.
The rally is supported by factors including rate cuts, strong bank earnings, and a brighter global trade outlook. The ASX 200's early gains reflect confidence in corporate earnings, supported by positive sectoral contributions and macroeconomic tailwinds.
In other news, full-time employment in Australia surged to an all-time record of 10.13 million in July 2025, with employment overall increasing by 24,500 to an all-time record of 14.64 million. The employment-to-population ratio edged up to 64.2% in July 2025, while the participation rate remained steady at 67.0%. The broader All Ordinaries Index is up 69.00 points or 0.76 percent.
The Aussie dollar is trading at $0.656 on Thursday, and the market is moving up to near the 8,900 level to fresh all-time highs. Oil stocks, except Woodside Energy, are mostly higher, and Mineral Resources is advancing more than 3%. Fortescue is adding more than 1 percent, and Origin Energy is surging almost 5 percent on upbeat full-year results.
Despite some fluctuations, the overall market optimism remains strong given the sustained earnings momentum and easing global trade tensions. It's a promising start to the day for the Australian market, with investors continuing to show confidence in the country's corporate sector.
The industrials, financials, and consumer stocks sectors are key contributors to the growth in the Australian market, with Transurban, Brambles, ANZ, Westpac, NAB, Woolworths, CSL, Super Retail, Downer EDI, and Bega Cheese among the noteworthy companies experiencing gains. The expansion of the S&P/ASX 200 above the 9,000-point milestone is a reflection of the strong corporate earnings and broad sector participation within the finance, industry, and business sectors.
