17.02.202600:10:55UTC+00Australian Shares Extend Gains

The S&P/ASX 200 advanced 0.4% to 8,976 on Tuesday, extending the prior session’s gains as investors digested a new round of corporate earnings and looked ahead to the release of the Reserve Bank of Australia’s latest meeting minutes later in the day. BHP Group led the market higher, surging 6.8% to a record high after the world’s largest miner reported underlying earnings and revenue that exceeded expectations. Judo Capital Holdings also climbed 6.5% after posting faster first-half profit growth and expressing increased confidence in beating its net interest margin guidance. SEEK added 0.9% following a report of double-digit revenue growth and margin expansion.

On the downside, Reliance Worldwide slid 5.2% after delivering earnings that fell short of expectations, while Challenger declined 1.9% as its earnings missed forecasts despite reporting record annuity sales. Investors are now awaiting the RBA minutes for further insight into the reasoning behind its recent interest rate hike.