The Australian sharemarket surged the most in two weeks to a fresh record, breaching 9000 points for the first time, supported by a wave of earnings beats on one of the busiest days of the corporate calendar.

The S&P/ASX 200 Index finished 101.1 points higher, or 1.1 per cent, to 9019.10, resetting its all-time high for the seventh time this month. The All Ordinaries jumped 1.2 per cent on Thursday.

All 11 sectors on the ASX traded higher, led by industrials, backed by strong contributions from energy and the consumer-related sectors.

Josh Gilbert, eToro market analyst, said the benchmark’s break above 9000 capped a strong run in banks and technology.

“So far, profits are coming in better than expected, which is a key part of why we’re seeing the ASX at new highs,” Gilbert said. “Rate cuts from the Reserve Bank are supporting sentiment, along with expectations the US Federal Reserve will also ease next month.”

Investors moved into industrials following a 3.3 per cent rise in Transurban to $14.77 after Citi upgraded the stock to “buy” after its earnings call this week. Brambles surged 13.2 per cent to a record $26.30 after the transport and logistics giant announced a US$400 million ($622 million) buyback and provided earnings guidance that beat expections for 2026.

Financials added weight to the rally as ANZ climbed 1.5 per cent to $33.92, Westpac 1.3 per cent to $38.73, National Australia Bank 0.9 per cent to $42.39 and Commonwealth Bank 0.8 per cent to $173.80.

Healthcare saw a rebound in CSL, which rose 2.4 per cent to $226 as bargain hunters waded back into the shares following a steep sell-off earlier in the week after its earnings and restructuring plans unnerved investors.

James Hardie remained a drag, falling another 9.4 per cent to $28.98 after broker downgrades compounded a 28 per cent drop on Wednesday following a substantial earnings miss.

“Valuations are looking increasingly stretched after such a strong run,” Gilbert said. “We still have a massive set of earnings due next week, which will be a real test for the rally. If results deliver, there’s no reason the market can’t keep climbing.”

Stocks in focus

In company news, contractor Downer EDI rose 5.9 per cent to $7.34 after starting a $230 million buyback, following an 82 per cent jump in profit to $149.1 million.

Super Retail jumped 12.3 per cent to $18.57 after beating analyst expectations in the past fiscal year.

IPH plunged 19.5 per cent to $4.50 after reporting a sharp drop in US patent filings, weighing on investor sentiment.

Megaport pared a 17 per cent fall to close down 3.4 per cent to $14.30 amid investor concerns about a jump in operating costs

Bega Cheese surged 7.7 per cent to $5.61 as its bulk commodities business returned to profit.

Goodman Group reversed an intraday gain to fall 1.4 per cent to $35.62, after posting a net profit of $1.67 billion, swinging back from a $98.9 million loss in 2024.

Pathology giant Sonic Healthcare tumbled 12.8 per cent to $25.05 as it posted lower than expected full-year revenues and net profit.

And, Xero slid 0.8 per cent to $169 as almost half of shareholders voted against the company’s voluntary remuneration report resolution.

That’s a wrap on today’s news. Join us again soon for more live markets news.