ASX opens up as CBA rallies; CSL dumped

The Australian sharemarket opened higher on Wednesday as Commonwealth Bank rallied following a stronger-than-expected interim dividend and cash profit of $5.4 billion, offsetting heavy selling of CSL.
The S&P/ASX 200 Index rose 0.5 per cent, or by 41.60 points, to 8909 at 10.11am AEDT , with five of the 11 sectors up.
Moomoo Australia dealing manager Chris Strazzeri said that a heavy slew of results released could determine whether markets break out of their current holding pattern, as traders looked to be range-bound and selective rather than directional. "Softness in metals may weigh on resources, while mixed global equity signals suggest limited upside for growth stocks, keeping investors cautious as they wait for clearer leads."
Financials were the strongest sector as Commonwealth Bank jumped 5.8 per cent. The bank's cash profit came in $200 million ahead of market expectations, while its dividend was $2.35 compared to a consensus of $2.31. National Australia Bank and Westpac rose 2.1 per cent, and ANZ by 1.5 per cent.
Healthcare was the biggest laggard as CSL plunged 11.7 per cent after it dumped chief executive Paul McKenzie in the final minutes of trading on Tuesday, and on Wednesday morning posted an 81 per cent slump in half-year earnings to $US400 million ($566 million). Citi warned that the biotech's full-year guidance is now at risk of not being met as first-half sales missed consensus by 2 per cent and underlying profit by 4 per cent.
Miners were subdued as gold and silver consolidated following overnight losses, while copper rose above $US13,000 on the London Metal Exchange. BHP rose 0.5 per cent, Newmont 2.2 per cent and Evolution Mining 2.9 per cent, as its underlying profit came in at $785 million.
Stocks in focus
AGL Energy jumped 7.4 per cent as it posted a 6.4 per cent dip in first-half benchmark profit amid softer performance from its core electricity and gas retailing business. Underlying net profit after tax slipped to $353 million, down from $377 million a year earlier.
Aussie Broadband rocketed 15 per cent amid a deal to acquire AGL Energy's telecommunications business and customer assets, which will see the company issue $115 million in stock to AGL.
James Hardie Industries soared 10.4 per cent as the construction materials supplier reported third-quarter net sales of $US1.2 billion ($1.7 billion), up 30 per cent, delivered margin expansion, and moved ahead of schedule on cost synergies.
SGH rose 1.2 per cent as it lifted its interim dividend by 7 per cent to 32 cents per share after delivering a statutory net profit after tax up 1 per cent to $473 million for the first half.
Domino's Pizza Enterprises added 5.1 per cent as the fast food chain appointed former McDonald's executive Andrew Gregory as its group chief executive.
Southern Cross Media gained 1.5 per cent as its newly acquired Seven West Media's first-half FY26 results were in line with guidance, with EBITDA of $67 million, down 27 per cent, and revenue of $712 million, down 2.1 per cent.
GQG Partners fell 3.3 per cent as funds under management rose from $US163.9 billion to $US165.7 billion in January but experienced outflows.

Sumber : AFR