ASX 200 -0.46% to 8,630 — CBA.AU -10% drags banks, ALL.AU +13% on HY26 leads materials offset
ASX 200 close: 8,630.4 (-40.3 pts, -0.46%) All Ords close: 8,880.7 (-28.9 pts, -0.32%) AU VIX: 13.17 (-2.70%) Sentiment: mixed
Session highlights
The S&P/ASX 200 closed at 8,630.4 on 13 May 2026, down 40.3 points or 0.46%, as Commonwealth Bank (CBA.AU -10.43%) triggered a sector-wide bank sell-off on a Q3 Pillar 3 trading update, partly offset by a heavyweight materials rally and Aristocrat Leisure's (ALL.AU +13.28%) HY26 result. The index hid two unusually large idiosyncratic moves in the same session.
- CBA.AU -10.43% to $153.67 — Q3 FY26 Pillar 3 capital and trading update: cash NPAT A$2.7bn for the three months to 31 March 2026, -1% versus the H1 quarterly average; soft earnings momentum read through to WBC.AU, ANZ.AU and NAB.AU; worst CBA session since COVID, ~A$20bn off market cap.
- ALL.AU +13.28% to $51.94 — HY26 result: 19% EPS growth, 16% NPATA growth to A$794m, A$1bn buyback expansion and a 50c interim dividend (+13.6% YoY); strongest ALL.AU session in roughly two years.
- PDN.AU -12.05% to $11.17 — Q3 FY26 revenue jumped to US$209.1m from US$138.2m PCP, but FY26 production and cost guidance underwhelmed.
- BHP.AU +2.91% to $61.52 — fresh closing record; iron-ore-heavy miners did the offsetting work against the financials drag.
- AU VIX -2.70% to 13.17 — index volatility eased even as two ±10% single-name moves dominated headlines; today's stress was sector rotation, not risk-off.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| ALL.AU | +13.28% | HY26: 19% EPS growth, 16% NPATA to A$794m, A$1bn buyback expansion, 50c interim dividend. |
| ARU.AU | +12.12% | Rare-earths sector bid; no fresh 13 May ARU release. |
| MAH.AU | +12.10% | Unannounced — likely flow-driven; contract-mining cyclical bid. |
| EQR.AU | +11.32% | Unannounced — likely flow-driven on the broader critical-minerals theme. |
| FFM.AU | +8.63% | Copper-name lift on US$6.637/lb spot; no fresh FFM release. |
| PDN.AU | -12.05% | Q3 FY26 revenue US$209.1m vs US$138.2m PCP, but FY26 guidance underwhelmed. |
| CBA.AU | -10.43% | Q3 Pillar 3: cash NPAT A$2.7bn, -1% vs H1 quarterly average; soft earnings momentum. |
| ELV.AU | -7.64% | Lithium-sector profit-take after the recent CXO.AU-led run; no fresh ELV release. |
| ELS.AU | -4.00% | Unannounced — likely flow-driven. |
| HMC.AU | -3.41% | Unannounced — likely flow-driven. |
Bank rout (CBA.AU and sympathy)
| Ticker | Move | Close | Cap |
|---|---|---|---|
| CBA.AU | -10.43% | $153.67 | $287B |
| WBC.AU | -2.84% | $35.57 | $127B |
| ANZ.AU | -1.62% | $34.57 | $106B |
| NAB.AU | -1.50% | $36.86 | $115B |
| BEN.AU | -1.25% | $10.27 | $5.9B |
Combined Financials drag was the dominant index force today; MQG.AU +1.11% to $236.80 was the only large-cap financial outperformer.
Materials offset (heavyweight rally)
| Ticker | Move | Close | Note |
|---|---|---|---|
| BHP.AU | +2.91% | $61.52 | Fresh closing record. |
| S32.AU | +3.22% | $4.49 | Diversified miner. |
| FMG.AU | +2.78% | $22.52 | Iron-ore complex bid. |
| LYC.AU | +2.00% | $19.90 | Rare-earths heavyweight tracked ARU.AU. |
| RIO.AU | +1.93% | $189.00 | Followed BHP. |
| MQG.AU | +1.11% | $236.80 | Outperformed other financials. |
Notable announcements
- CBA.AU Q3 FY26 Pillar 3 capital and trading update — cash NPAT A$2.7bn for the three months to 31 March 2026, -1% vs the H1 quarterly average; CET1 ratio 11.6%; market read as soft earnings momentum despite balance-sheet stability; -10.43% on the print.
- ALL.AU HY26 result — NPATA A$794m (+16%), EPS +19%, A$1bn buyback extension, 50c interim dividend (+13.6% YoY); +13.28% on the print.
- PDN.AU Q3 FY26 result — revenue US$209.1m vs US$138.2m PCP; company returned to profit, but FY26 production and cost guidance underwhelmed; -12.05% on the print.
Sector tone
Financials: dominated by CBA.AU -10.43% with sympathetic weakness in WBC.AU, ANZ.AU and NAB.AU; MQG.AU +1.11% the lone large-cap outperformer. Materials: broad strength — diversified miners BHP.AU +2.91%, RIO.AU +1.93%, S32.AU +3.22%, FMG.AU +2.78%; rare earths ARU.AU +12.12%, BRE.AU +6.62%, LYC.AU +2.00%; gold names SBM.AU +5.22%, EMR.AU +1.95%, GMD.AU +1.84%, CMM.AU +1.29% on the US$4,711/oz spot lift. Healthcare split: small-caps PYC.AU +7.87%, PNV.AU +6.88%, EIQ.AU +6.80% led; large-cap RMD.AU +1.99% modest. Energy crushed by PDN.AU's idiosyncratic -12.05%. Consumer Cyclical lifted by ALL.AU's +13.28% (single-name dominant). Technology weak: WTC.AU -3.19%, AMC.AU -2.44%.
Overnight Wall Street (most recent US close, ~07:00 AEST 13 May)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 | 7,400.96 | -0.16% | Range-bound close |
| NASDAQ | 26,088.20 | -0.71% | Tech-led drag |
| Dow | 49,760.56 | +0.11% | Cyclical outperformer |
At AU close (16:00 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| AUD/USD | 0.7241 | -0.03% | Essentially flat |
| Gold | US$4,711.30/oz | +0.52% | Supported gold-name lift |
| Brent | US$106.55 | -1.13% | Heaviest commodity decliner |
| WTI | US$100.99 | -1.16% | Tracked Brent lower |
| Copper | US$6.637/lb | +1.62% | Lifted base-metal mood |
Next 24h catalysts (AEST)
- Thu 09:00 — SPI open; how CBA.AU bank-rout digestion and ALL.AU HY26 continuation feed into Asia.
- Thu overnight — US data calendar and Federal Reserve speakers from the regular slate.
- Ongoing — EIQ.AU FDA 510(k) ruling could land any session in 1H 2026; ARU.AU progression toward Nolans FID after the A$1.35bn sovereign-funding mosaic.
Context only — not financial advice. Track your own trades with Swingfolio.