ASX 200 holds at 8,687 as CPI shock fails to break the index; Codan +15.45% on FY26 upgrade
The S&P/ASX 200 closed at 8,687 on 29 April 2026, down 23.7 points or 0.27%, after Q1 headline CPI printed at 4.6% YoY against a trimmed-mean read of just 3.3%. Codan (CDA.AX) was the standout, jumping 15.45% to $42.00 after lifting FY26 guidance with EBIT and NPAT both flagged to grow more than 60%. AU VIX fell 2.32% to 12.81 — defensives and energy held the index up while banks (CBA.AX -1.39%) and tech (WTC.AX -2.16%) led the drag.
Session highlights
- CDA.AX +15.45% to $42.00 — FY26 trading update: EBIT $235m and NPAT $170m both flagged up more than 60%; communications-segment margins 30% reached a year early; 19.5cps interim dividend (+56%).
- Headline CPI 4.6% YoY for Q1 2026 (vs 3.7% Feb), a 2-year high — but trimmed mean held at 3.3%, only modestly above the RBA's 2-3% band. CBA reiterated its call for a 25bp May hike to 4.35%.
- AU VIX -2.32% to 12.81 even as the index slipped — implied vol gave no reaction to the CPI print.
- CBA.AX -1.39% to $172.18, NAB.AX -1.24% to $39.67, WBC.AX -1.04% to $38.22 — three of the Big-4 sold on the terminal-rate read; ANZ.AX +0.42% to $36.18 was the only major to close green.
- Healthcare extended losses: CSL.AX -2.42% to $125.78, COH.AX -3.23% to $90.00, SHL.AX -1.24% to $19.93.
Sector scorecard
- Best: Utilities ^AXUJ +2.18% to 10,343
- Worst: Tech ^AXTJ -0.49% to 1,700
- Dispersion (best minus worst): 2.67 pts
- Energy ^AXEJ +1.27% to 10,914 was the second-strongest sector with Brent +0.74% to US$105.17 lifting WDS.AX +2.01% to $33.05 and AGL.AX +2.38% to $9.48 alongside the utilities lift.
- Of 11 GICS sectors, 5 closed up (Utilities, Energy, Industrials, Property, Telecom) and 6 closed down — Materials -0.39% (BHP.AX -0.87%, RIO.AX -0.77% offset by FMG.AX +0.55%), Discretionary -0.36%, Financials -0.40%, Staples -0.41%, Tech -0.49%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| CDA.AX | +15.45% | FY26 EBIT $235m and NPAT $170m both up >60%; comms margin 30% reached a year early; div +56% to 19.5cps. |
| LYC.AX | +5.18% | Lynas extended on rare-earths bid; Mt Weld leach-circuit grant context. |
| NHC.AX | +3.43% | Coal-sector lift; WHC.AX +2.87% to $8.23 in tandem. |
| ORG.AX | +3.17% | Led utilities (+2.18%); AGL.AX +2.38% to $9.48 alongside. |
| WDS.AX | +2.01% | Brent +0.74% to US$105.17; energy bid into the close. |
| COH.AX | -3.23% | Cochlear extended its post-guidance-cut slide; healthcare weakest sector YTD. |
| CSL.AX | -2.42% | Biggest index-weight loss; healthcare drag deepened. |
| FLT.AX | -2.29% | Flight Centre — unannounced, likely flow-driven. |
| WTC.AX | -2.16% | WiseTech led the tech sector (-0.49%) lower. |
| PLS.AX | -2.13% | Pilbara Minerals tracked lithium softness; lithium proxies sold despite LYC.AX strength. |
Notable announcements
- CDA.AX FY26 trading update: revenue at the top end of 15-20% guidance range, communications-segment margins 30%, 19.5cps fully-franked interim dividend (+56% on prior period). Demand cited for defence/unmanned-systems comms gear and gold detectors.
- ABS Q1 2026 CPI: headline 4.6% YoY, trimmed mean 3.3%; main contributors Housing +6.5%, Transport +8.9%, Food +3.1%.
- RBA cash rate sits at 4.10% after two 2026 hikes; CBA's published call is for +25bp at the 4-5 May meeting to 4.35%.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 e-mini | 7,138.8 | -0.49% | US futures softer ahead of cash open |
| NASDAQ 100 e-mini | 24,663.8 | -0.90% | Tech-heavy futures led the slide |
| Brent | US$105.17 | +0.74% | Energy bid; WDS.AX +2.01% rode it |
| Gold | US$4,596.6/oz | -0.26% | Pulled back from overnight high |
| AUD/USD | 0.7165 | -0.25% | Softer despite the headline CPI miss |
| Copper | US$6.0075/lb | +0.56% | Held bid above US$6 |
Next 24h catalysts (AEST)
- Wed 29 Apr, 23:30 — US Q1 GDP advance estimate (March quarter)
- Thu 30 Apr, 11:30 — AU Q1 PPI (final domestic input ahead of RBA's 4-5 May decision)
- Thu 30 Apr, 22:30 — US PCE inflation (March) — the Fed's preferred gauge
- Fri 1 May, 09:00 — AU April manufacturing PMI flash
- Mon-Tue 4-5 May — RBA cash rate decision; CBA's published call is +25bp to 4.35%
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