FEAR & GREED | Business News Afternoon Report | ASX climbs as ANZ surges
Feb 12, 2026
Markets hit an intraday high as the ASX closed up, with late tech selling and big swings in bank and biotech stocks. A surprise leadership challenge roils the Liberal Party ahead of a party room ballot. AMP suffers its worst trading day in decades amid profit and capital concerns. A Canada school shooting and national response are also reported.
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Markets Rally Led By Bank Cost Cuts
- The ASX hit an intraday high of 9,105 but closed lower at 9,044, showing late volatility in tech stocks.
- ANZ led gains after a $1.94bn quarterly profit driven by cost cuts, lifting broader bank shares.
Tech And Biotech Face Renewed Selling
- Tech stocks reversed after earlier gains, pressured by weak US tech leads and AI disruption fears.
- CSL plunged nearly 7% after poor earnings and a sudden CEO exit, adding to sector weakness.
Liberal Leadership Challenge Unfolds
- Angus Taylor launched a Liberal leadership challenge with a party-room ballot set for 9am tomorrow.
- The messy rollout may have cost support despite Taylor's camp claiming it has numbers.