ASX 200 Rises 0.34% to 8,709.3 as Codan Lifts Tech 4.6% on RBA Hike Day
ASX 200 close: 8,709.3 (+0.34%) Breadth: 140 advancers / 75 decliners (19 unchanged, 234-name sweep) Sentiment: mixed
The S&P/ASX 200 closed at 8,709.3 on 29 September 2026, up 29.6 points or 0.34%, as Info Tech jumped 4.61% and Materials added 1.02%, outweighing a 0.82% fall in CBA.AU after the RBA lifted the cash rate 25 bp to 4.60%. CDA.AU rose 23.93% to a record $64.43 after guiding to first-half FY27 net profit of at least $160 million, up at least 125%. The RBA decision was unanimous, its fourth increase of 2026, and cited Middle East energy prices "much higher than had been assumed in the August forecasts".
What moved the index
The index gained 34 bps. Materials, Info Tech and Consumer Discretionary added about 42 bps before offsets.
- Materials (+1.02%): BHP.AU +1.39%, RIO.AU +0.82%, MIN.AU +1.10% and S32.AU +2.87%, worth about 22 bps. Copper held near record levels after workers at Antofagasta's Centinela mine in Chile voted to strike.
- Info Tech (+4.61%): CDA.AU +23.93%, MP1.AU +9.44% and WTC.AU +3.11%, worth about 14 bps. Codan alone added about 9 bps and passed WiseTech in market value during the session.
- Consumer Discretionary (+0.72%): WES.AU +1.03% and ALL.AU +0.80%, worth about 6 bps.
- Offsets: CBA.AU -0.82% took about 8 bps; Energy (-0.72%) and Utilities (-0.82%) took about 3 bps between them.
Together the drivers net to about +31 bps against the 34 bps index move; Industrials (+0.36%) and Health Care (+0.22%) cover the residual.
Session highlights
- About 8,674 at 2:50 pm AEST: the index was down 6 points after the 2:30 pm decision, then added about 35 points into the close to finish on its high of the day.
- 4.60%: the RBA cash rate, the highest since November 2011, after a unanimous 25 bp increase. The Board said it will raise the rate "further if needed".
- 0.0%: August household spending month on month, against forecasts of 0.4%. Excluding an 8.1% jump in fuel spending, total spending fell 0.3%, according to the ABS.
- AUD/USD fell 0.43% to 0.6991 by 5:30 pm AEST, while the AU VIX dropped 5.12% to 10.92.
- A-REITs slipped 0.21% with the US 10-year yield at 5.24%: GMG.AU -0.49%, CQR.AU -0.68%.
Sector scorecard
- Best: Info Tech (+4.61%)
- Worst: Utilities (-0.82%)
- Dispersion (best minus worst): 5.43 pts
- Info Tech had the widest internal split: of 12 members checked, 8 rose, 3 fell and 1 was flat, from CDA.AU +23.93% to XYZ.AU -2.53%.
- Financials -0.13%: MQG.AU +0.86% and QBE.AU +1.21% against CBA.AU -0.82%; WBC.AU, NAB.AU and ANZ.AU finished within 0.06% of flat.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| CDA.AU | +23.93% | 1H27 NPAT guided to at least $160m; Communications growth target lifted to 30% to 40% |
| MP1.AU | +9.44% | Three AI contracts worth $978.6m; FY27 revenue guidance raised to $720m to $810m |
| PRN.AU | +8.84% | More than $200m of drilling and underground contract wins |
| NGI.AU | +8.81% | Price-sensitive update on value from the Invictus transaction |
| PNI.AU | +8.05% | UBS upgrade; broker says the Metrics exposure is priced in |
| KAR.AU | -6.75% | Second day down after cutting CY26 production guidance to 6.6 to 7.2 MMboe |
| EQR.AU | -5.88% | Cleansing notice and quotation of new securities lodged |
| EUR.AU | -2.47% | Unannounced, likely flow-driven. |
| JHX.AU | -2.35% | Change in substantial holding lodged; no operating update |
| IPX.AU | -2.23% | Annual report lodged; no operating update |
Notable announcements
- CDA.AU: FY27 Communications growth target lifted to 30% to 40% from about 20%.
- MP1.AU: compute ARR up 90% to $201.4m since 30 June; FY27 EBITDA margin guidance raised to 42% to 44% from 38% to 40%; FY27 capex raised to $1.78bn to $1.88bn.
- PRN.AU: drilling contracts worth about $185m of FY27 revenue, plus a first phase of about $20m with Endeavour Mining in Senegal.
- KAR.AU: Baúna 2026 guidance cut to 5.4 to 5.7 MMbbl from 6.0 to 6.7 MMbbl; unit cost guidance raised to US$15 to US$16 per boe.
- PNI.AU: UBS estimates Metrics at about 10% of recurring profits after an audit cut NTA by 2% to 12% across the suspended listed vehicles.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures (Dec) | 7,744.00 | -0.04% | 5:30 pm AEST snapshot |
| Nasdaq 100 futures (Dec) | 30,567.25 | 0.00% | 5:30 pm AEST snapshot |
| Nikkei 225 | 65,481.27 | -0.60% | Closed |
| Hang Seng | 24,537.15 | -0.43% | Late session |
| STOXX 600 | 640.33 | +0.26% | Early European session |
| Brent (Nov) | US$106.70 | +1.35% | November contract expires 30 September |
| Gold (Dec) | US$4,177.30/oz | +0.21% | After a 3.54% fall on Monday |
| AUD/USD | 0.6991 | -0.43% | After the RBA decision |
Next 24h catalysts (AEST)
- Wed 00:00: US JOLTS job openings.
- Wed 09:50: SPI open; tracks overnight futures and the JOLTS print.
- Wed 11:30: ABS monthly CPI for August, the first inflation print since the RBA decision.
- Wed 11:30: ABS building approvals for August and engineering construction activity for the June quarter.
- Wed 22:30: US GDP, corporate profits and personal income and outlays.
- Wed 30 Sep: November Brent futures expire.
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