FEAR & GREED | Business News Afternoon Report | ASX hits three month high
Jan 27, 2026
Markets jump as the ASX reaches a three-month high with miners and big caps in focus. Record-breaking heat in Victoria forces closures and fuels wildfire concerns. Political fallout after flag burning at protests sparks calls for federal action. A security-tech firm posts strong revenue but reveals pipeline worries that rattled investors. Border patrol withdrawal follows a deadly Minneapolis shooting and renewed scrutiny.
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Miners Drive ASX Rally
- The S&P/ASX 200 hit a three-month high, closing 0.9% up at 8,942 points.
- Miners led the gains as gold topped US$5,100 an ounce and BHP overtook Commonwealth Bank as the ASX's largest company.
Currency And Stock Movers
- The AUD climbed to 69.4 US cents, nearing a three-year high amid market strength led by miners.
- Market movers included gold and silver price gains and notable stock moves like Life360 and Alcoa falling over 8%.
Record Heat Disrupts Victoria
- Victoria recorded its hottest temperature ever at 48.9°C in Wolpeup amid a severe state-wide heatwave.
- Melbourne passed 40°C, tennis arenas closed their roofs and matches were suspended due to level five heat stress.