Standout Earnings Signal ‘Powerful’ Boost for Australian Stocks
Stock information displayed at the Australian Securities Exchange in Sydney.
Photographer: Brendon Thorne/BloombergAustralia’s blockbuster February earnings results are helping lure investors back to the commodity-rich market, as traders position themselves for a renewed upswing in demand.
Forward earnings for the S&P/ASX 200 Index have returned to the highest level since May 2023, fueled by strong mining-sector results after several consecutive years of downgrades, data compiled by Bloomberg show. That’s helped the benchmark rise to record levels and post its best February since 2019.