Evening Wrap: ASX 200 hits fresh highs as TLS jumps 3.6% on dividend and buyback, ZIP crashes -34% on result, WDS +4.4%

The S&P/ASX 200 closed 79.2 points higher, up 0.88%.

ASX 200 logged a fourth straight gain, with eight of the eleven major sectors higher, led by energy and telecommunications. Reporting season beats also supported a broad risk-on session.

In economic news, stronger jobs data reinforced expectations for another rate hike.

Let's dive in!

Markets

ASX 200 Session Chart

The S&P/ASX 200 (XJO) finished 79.2 points higher at 9,086.2, 0.88% from its session low and 0.35% from its high. In the broader-based S&P/ASX 300 (XKO) advancers beat decliners by a solid 180 to 94.

Energy (XEJ) (+3.8%) surged on oil’s sharp overnight jump, led by Woodside Energy (WDS) (+4.4%), while Santos (STO) (+5.5%) rallied after its FY25 result.

Consumer Discretionary (XDJ) (-2.9%) lagged after Wesfarmers (WES) (-5.6%) fell as its second-half sales growth missed expectations, while Lovisa (LOV) (-12.8%) dived on a weaker-than-expected half-year result.

In stock specific news:

• Zip (ZIP) (-34%) cratered after a half-year result miss and softer US momentum.

• Telstra (TLS) (+3.6%) hit all-time highs after its dividend beat expectations and it upsized its buyback.

• Sonic Healthcare (SHL) (+9.8%) surged after beating expectations and re-affirming guidance.

• Hub24 (HUB) (+14.1%) jumped on a strong earnings result.

In Asian trade, spot gold (+0.1%) was little changed at around US$4,990/oz, but gold miners traded higher, led by Northern Star Resources (NST) (+1.2%) and Evolution Mining (EVN) (+2.4%).

Be sure to click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key economic data in tonight's Evening Wrap.

Today's best blue chip gainers

Today's worst blue chip losers

ChartWatch

What a day for the OTP! 🥳

ChartWatch will be back tomorrow... I did ask Carl if he had any advice regarding last night's Comp candle, and today's ASX 200 candle, and he only had this to say: "D vs S = P — they know what to do!"

Economy

Today

• 11:30 AUS February Employment Change

  • Result: +17.8k m/m vs 20k m/m forecast vs +68.5k m/m in January

• 11:30 AUS February Unemployment Rate

  • Result: +4.1% vs +4.2% forecast and +4.1% in January

Later this week

Friday

• 12:30 USA Unemployment Claims (+229k w/w forecast vs +227k w/w previous)

Saturday

• 12:30 USA Advance GDP q/q (+2.8% p.a forecast vs +4.4% p.a. previous)

Latest News

Interesting Movers

Trading higher

• +14.2% Hub24 (HUB) – HUB24 1HFY26 Results Announcement strength across wealth platforms and broader Financials today.

• +12.7% IPH (IPH) – HY26 Results Announcement.

• +9.9% Sonic Healthcare (SHL) – CEO Presentation Half Year Results to 31 December 2025, Healthcare names caught a bid and the stock bounced after recent weakness.

• +9.8% Karoon Energy (KAR) – No news, general strength across the broader Energy sector today.

• +8.7% NRW Holdings (NWH) – Half Year Results Presentation.

• +6.9% Bannerman Energy (BMN) – No news, general strength across the broader Energy sector today.

Trading lower

• -34.4% Zip Co (ZIP) – 1H FY26 Results Update.

• -13.8% Appen (APX) – No news, move is consistent with recent volatility.

• -12.8% Lovisa Holdings (LOV) – 1H FY26 Half Year Results Presentation, general weakness across the broader Consumer Discretionary sector today.

• -9.9% MA Financial Group (MAF) – FY25 Results Presentation.

• -8.3% Arafura Rare Earths (ARU) – No news.

• -5.6% Medibank Private (MPL) – HY26 Results - Investor Presentation.

• -5.6% Wesfarmers (WES) – 2026 Half-year results, general weakness across the broader Consumer Discretionary sector today.

Broker Moves

Chalice Mining (CHN)

• Initiated at speculative buy at Canaccord Genuity; Price Target: $3.70

Dexus (DXS)

• Retained at underweight at Jarden; Price Target: $7.55 from $7.45

• Retained at overweight at JPMorgan; Price Target: $8.50

• Retained at outperform at Macquarie; Price Target: $7.55 from $7.38

• Retained at underweight at Morgan Stanley; Price Target: $7.15

• Retained at neutral at UBS; Price Target: $7.13 from $7.34

Deep Yellow (DYL)

• Retained at speculative buy at Canaccord Genuity; Price Target: $3.01

EQ Resources (EQR)

• Initiated at speculative buy at Euroz Hartleys; Price Target: $0.41

Healius (HLS)

• Retained at sell at Goldman Sachs; Price Target: $0.66 from $0.77

• Retained at hold at Morgans; Price Target: $0.80 from $0.87

• Retained at sector perform at RBC Capital Markets; Price Target: $0.75 from $0.95

Hansen Technologies (HSN)

• Retained at buy at Moelis Australia; Price Target: $7.20 from $6.60

Iluka Resources (ILU)

• Retained at neutral at UBS; Price Target: $5.25

Mirvac Group (MGR)

• Retained at outperform at Macquarie; Price Target: $2.45 from $2.65

National Australia Bank (NAB)

• Retained at overweight at JPMorgan; Price Target: $47.80 from $42.40

• Retained at sell at Morgans; Price Target: $37.27 from $32.56

• Retained at buy at UBS; Price Target: $50.50 from $47.00

Nickel Industries (NIC)

• Retained at overweight at Barrenjoey; Price Target: $2.00 from $2.10

NexGen Energy (Canada) (NXG)

• Retained at buy at Shaw and Partners; Price Target: $22.90 from $17.80

Paladin Energy (PDN)

• Retained at buy at Shaw and Partners; Price Target: $17.50 from $10.50

Peninsula Energy (PEN)

• Retained at buy at Shaw and Partners; Price Target: $1.93 from $1.33

Pioneer Credit (PNC)

• Retained at buy at Shaw and Partners; Price Target: $1.00 from $0.85

Qualitas (QAL)

• Retained at accumulate at Morgans; Price Target: $3.80 from $4.00

Rio Tinto (RIO)

• Initiated at neutral at Macquarie; Price Target: $156.00 from $130.00

SHAPE Australia Corporation (SHA)

• Retained at buy at Ord Minnett; Price Target: $8.25

Sonic Healthcare (SHL)

• Initiated at neutral at Macquarie; Price Target: $25.20

Superloop (SLC)

• Retained at buy at Canaccord Genuity; Price Target: $3.74

• Retained at buy at Citi; Price Target: $3.95 from $3.75

• Retained at overweight at JPMorgan; Price Target: $3.30 from $3.20

• Retained at outperform at Macquarie; Price Target: $3.50

• Downgraded to hold from accumulate at Morgans; Price Target: $3.00

Silex Systems (SLX)

• Retained at buy at Shaw and Partners; Price Target: $12.80 from $11.20

Santos (STO)

• Upgraded to positive from neutral at E&P; Price Target: $7.70 from $7.80

• Retained at buy at Goldman Sachs; Price Target: $8.00 from $8.05

• Retained at underweight at Jarden; Price Target: $5.90 from $6.00

• Retained at outperform at Macquarie; Price Target: $7.55

• Retained at hold at Morgans; Price Target: $6.80 from $6.60

• Retained at buy at Ord Minnett; Price Target: $7.30 from $7.50

• Upgraded to outperform from sector perform at RBC Capital Markets; Price Target: $7.50 from $6.75

Step One Clothing (STP)

• Retained at hold at Morgans; Price Target: $0.29 from $0.30

Suncorp Group (SUN)

• Retained at neutral at Citi; Price Target: $16.75 from $18.50

• Upgraded to overweight from neutral at Jarden; Price Target: $18.60 from $18.40

The Lottery Corporation (TLC)

• Upgraded to positive from neutral at E&P; Price Target: $6.01 from $5.90

Technology One (TNE)

• Retained at outperform at CLSA; Price Target: $36.50

• Upgraded to buy from overweight at Jarden; Price Target: $30.00 from $32.00

• Upgraded to buy from hold at Ord Minnett; Price Target: $30.54 from $29.78

Vicinity Centres (VCX)

• Upgraded to hold from underperform at Jefferies; Price Target: $2.34 from $2.20

Scans