ASX 200 climbs 0.49% to 9,103.1 as a copper supply shock lifts BHP to a record
ASX 200 close: 9,103.1 (+0.49%) Breadth: 123 advancers / 117 decliners across the 249 largest ASX names Sentiment: mixed
The S&P/ASX 200 closed at 9,103.1 on 24 August 2026, up 44.2 points or 0.49%, as a copper supply disruption and a weaker US dollar drove Materials to its first record since 17 June. BHP.AU rose 3.01% to $67.12 and set an all-time high after Zijin warned that flooding at its Kamoa-Kakula mine in the DRC could cut its share of output by up to 57,000 tonnes against a full-year target of 1.2Mt of mined copper. Financials closed 0.72% lower and have now fallen in ten of the last twelve sessions, which is why an index up 0.49% managed breadth of only 123 advancers to 117 decliners.
What moved the index
- Large-cap miners: BHP.AU +3.01%, MIN.AU +4.19%, S32.AU +3.68%, RIO.AU +1.17% and FMG.AU +1.01%, worth roughly 41 bps of the 49 bps index move. Copper held above US$14,000/t on the Zijin disruption, and hedge funds built US dollar shorts after Treasury Secretary Bessent's 19 August decision to at least double buybacks of longer-dated securities.
- Uranium, lithium and gold miners: DYL.AU +11.55%, PDN.AU +10.59%, SLX.AU +7.63% and NXG.AU +6.15% tracked the NYSE-listed Global X Uranium ETF, which gained 5.0% overnight to a two-month high. PLS.AU +7.89% reinstated a 5 cent fully franked final dividend, its first since 2023. EVN.AU +2.48% and NST.AU +1.75% followed gold futures to US$4,701/oz. The three groups added about 16 bps.
- Banks and insurers: CBA.AU -0.70%, ANZ.AU -0.73%, NAB.AU -0.42%, WBC.AU -0.27% and MQG.AU -0.23%, alongside NHF.AU -9.05% and MPL.AU -3.84%, subtracted roughly 16 bps.
- Consumer staples and the energy majors: EDV.AU -4.72%, WOW.AU -0.82%, COL.AU -0.79%, STO.AU -1.78% and WDS.AU -0.89% cost about 5 bps between them, partly offset by ALD.AU +4.32%.
Together these account for about 38 of the 49 bps the index gained. The residual 11 bps sits in a thin tail of small advances, which matches the near-even breadth: the largest names did the work.
Session highlights
- BHP.AU +3.01% to $67.12 took Materials (XMJ) up 2.43% and the Metals and Mining index (XMM) up 2.54%, both to records.
- ANN.AU +9.57% to $38.24 on an FY26 result that doubled profit and lifted the dividend. The stock was up 18% in morning trade before handing back half the gain.
- NXL.AU +34.39% and DTL.AU +17.85% after each turned a prior-year loss into profit, Nuix to $16m and Data#3 to $78m from a $56m loss.
- KGN.AU -18.63% despite a 30% profit increase, after its FY27 trading update landed short of expectations.
- KOSPI -3.12%, Hang Seng -1.86% and Nikkei 225 -0.74% at the AU close, so the ASX rose while the region sold.
Sector scorecard
- Best: Materials (XMJ) +2.43%
- Worst: Consumer Staples (XSJ) -0.95%
- Dispersion (best minus worst): 3.38 pts
- Financials (XFJ) -0.72% was the heaviest drag by weight. Information Technology (XIJ) +0.97%, Health Care (XHJ) +0.62% and Energy (XEJ) +0.47% finished higher, while Utilities (XUJ) -0.48% and Telecommunications (XTJ) -0.45% joined staples lower. The gold sub-index (XGD) added 1.71%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| BNZ.AU | +14.29% | Unannounced, likely flow-driven. |
| DYL.AU | +11.55% | Global X Uranium ETF +5.0% overnight |
| PDN.AU | +10.59% | Same uranium bid, no company announcement |
| IPX.AU | +10.03% | Titanium developer, no announcement found |
| ANN.AU | +9.57% | FY26 profit doubled, dividend lifted |
| NHF.AU | -9.05% | FY27 guidance barely ahead, NPAT down 5.9% |
| AYA.AU | -6.60% | Unannounced, likely flow-driven. |
| ABB.AU | -6.53% | FY27 EBITDA guidance 4% under consensus |
| AXQ.AU | -6.14% | No announcement found, small-cap tech sold |
| ELS.AU | -6.10% | No announcement found, small-cap tech sold |
Notable announcements
- PLS.AU lifted FY26 revenue 152% to $1,934m, with underlying EBITDA of $1,137m against $97m a year earlier, and cut unit costs 9% to US$386/t.
- NHF.AU raised underlying operating profit 9.1% to $260.9m and declared a 34 cent full-year dividend, 13% above consensus, but statutory NPAT fell 5.9% to $186.9m and FY27 guidance of $265m to $285m sat only marginally above the $267.6m consensus.
- ABB.AU beat on FY26 earnings and set a 6.0 cent dividend, 20% above expectations, then guided FY27 EBITDA to $205m to $215m against a $219.4m consensus.
- EDV.AU beat on underlying profit with FY27 retail sales up 4.6% in the first seven weeks, though management said a $100m cost-out program will largely offset wage growth rather than exceed it.
- ALD.AU swung to a first-half profit above $1bn as refining and supply margins widened on Middle East product dislocation.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures | 7,675.75 | -0.20% | Ahead of the US cash open |
| Nasdaq 100 futures | 29,185.75 | -0.69% | Nvidia lifting AI server prices 15% |
| VIX | 15.91 | +5.16% | Pre-open US session |
| Nikkei 225 | 65,528.09 | -0.74% | Closed |
| Hang Seng | 25,524.82 | -1.86% | Still trading |
| KOSPI | 6,696.96 | -3.12% | Weakest major Asian market |
| Gold | US$4,701.20/oz | +0.44% | Front-month futures |
| Brent | US$92.80 | -1.68% | Hormuz traffic at 20% of pre-war average |
| Copper | US$6.58/lb | -0.04% | Holding above US$14,000/t |
| AUD/USD | 0.7169 | -0.07% | Dollar shorts building |
Next 24h catalysts (AEST)
- Mon 24 Aug, evening Bessent details the Iran economic isolation plan at a US news conference, with secondary sanctions risk flagged for China, India, Turkey and the UAE
- Tue 25 Aug, 10:00 ASX opens, with FY26 reporting season continuing
- Wed 26 Aug US July PCE, with economists forecasting 3.6% year on year, the slowest in four months
- Fri 28 Aug Fed Chair Warsh delivers his first Jackson Hole address at the Kansas City Fed symposium
- Tue 8 Sep Canada begins dollar-for-dollar retaliation on US steel, dairy, appliances, agricultural equipment, pulp and paper and electronics after trade talks collapsed
Context only, not financial advice. Track your own trades with Swingfolio.