11.02.202606:18:48UTC+00Australian Stocks Hit 3-Month High

The S&P/ASX 200 closed 1.7% higher at 9,014 on Wednesday, its strongest finish in three months, driven by gains in banking and gold stocks. Commonwealth Bank, the country’s largest lender, jumped nearly 7%—its biggest one-day advance in six years—after posting record earnings, solid loan growth, stable market share, and a higher dividend. The surge in Commonwealth Bank helped propel the broader financials sector up 3.5% to its highest level since November 2025, with the other three major banks rising between 1.4% and 3%.

Gold miners also rallied, with the sector climbing 3.1% to its highest level since February 2, supported by a stronger bullion price and an 8.9% leap in heavyweight Evolution Mining after the company reported that its half-year profit had more than doubled.

In contrast, biotech giant CSL slumped nearly 5% to an eight-year low after reporting a decline in first-half profit and announcing the departure of its CEO. Exchange operator ASX, which has been under regulatory scrutiny over its trading system overhaul, also disclosed the exit of its CEO, sending its shares down 5.5%.