ASX 200 closes at a record high as CBA soars after half year results

The Australian sharemarket closed at a record high on Wednesday off the back of strong share price growth from the major banks.

Strong results from companies reporting the half year results on Wednesday drove the Australian sharemarket to a new record close.

The benchmark S&P/ASX200 rose 51.3 points, or 0.6 per cent, to 8535.3, while the broader All Ordinaries was up 48 points or 0.55 per cent to 8,799.60.

The Aussie dollar firmed and is trading around US62.95c.

It was a mixed day on the ASX with the major banks lifting the market higher. Picture: NewsWire / Jeremy Piper

It was a day dominated by the big banks with financials accounting for 41 of the 51 point rise in the index. Overall seven of the 11 sectors finished in the green.

Australia’s biggest bank, the Commonwealth, soared 2.4 per cent to a new record high of $165.93 on strong earnings results which flowed through to the rest of the big four.

Westpac up 1.1 per cent to a record high of $34.65, NAB up 1.7 per cent to $41.11, ANZ jumped 0.7 per cent to a two-month high of $31.23 and Macquarie was up 1.7 per cent to a five-day high of $235.53.

Wednesday’s reporting season was dominated by CBA, with investors pouring into the stock after posting stronger than expected half-year profit of $5.1bn, and increased its dividend by 5 per cent to $2.25 per share.

In a statement to the stock exchange, CBA chief executive Matt Comyn acknowledged the economy had weakened despite the strong result by the bank.

“Our consistent financial performance demonstrates our disciplined operational and strategic execution, and the bank’s deep customer relationships that help us understand needs and risks and deliver superior digital experiences,” he said.

VanEck senior portfolio manager Cameron McCormack said CBA’s results show a net positive for households.

“We think CBA’s results will also show Australian households are managing relatively well despite the cost-of-living crisis,” Mr McCormack said.

“Quarterly earnings updates from the other major banks indicate mortgage delinquencies remain low, in part due to the tight labour market.”

Meanwhile, separate stats by VanEck shows the Australian ETF industry has made a strong start to 2025, recording $4.64bn in net flows, making January the seventh consecutive month of $3bn net flows.

CBA lifts the entire Australian market higher after reporting its latest results. Picture: NewsWire / Max Mason-Hubers

All ETF issuers experienced flows well above their respective averages for January, with the market cap reaching a new all-time high of $257bn.

Elsewhere, Computershare was the strongest performing share on the ASX after releasing stellar guidance to the market.

Computershare lifted its full-year earnings-per-share guidance to 135 cents, an increase of around 15 per cent compared FY24, smashing previous guidance of around 7.5 per cent.

Shares soared 15.48 per cent to $41.53 on the back of Wednesday’s announcement.

AGL Energy also reported strong earnings, with investors buying into the stock after it

reported an underlying half year net profit after tax of $373m. Shares are trading 0.17 per cent higher to $11.73.

The Evolution Mining share price bounced 1.13 per cent to $6.29 after the gold miner announced record earnings and record cash generation during the first half.

It was a mixed bag for the major miners. BHP fell 0.05 per cent to $40.14 and was outshone by iron ore rivals Fortescue Metals, which rose 1.05 per cent to $19.32.Rio Tinto was the weakest of the three falling 0.59 per cent to $119.00

Originally published as ASX 200 closes at a record high as CBA soars after half year results