Australian shares gained momentum on Tuesday, February 17, 2026, as the **S&P/ASX 200** closed **0.32% higher** at **8,965.5 points**. The session was defined by a surge in the resources sector, which offset broader weakness in technology and real estate. The day’s standout performer was **BHP Group**, which saw its shares jump as much as **7.7%** to hit a new all-time high of **$54.20**. This rally followed a blockbuster half-year earnings report, where the mining giant posted a **22% increase** in underlying profit to **US$6.2 billion**. BHP also surprised the market by raising its interim dividend to **US$0.73 per share**, a **46% jump** from the previous year. Copper was the primary engine for this growth, now contributing **51%** of the group’s total earnings. The materials sector led the broader market with a **6.1% gain**, largely driven by the **$16 billion** added to BHP's market capitalization. This strength helped the index recover from a sharp drop seen late last week, even as major global markets in the U.S. and Asia remained closed for holidays. Iron ore remains a critical anchor for the Australian economy. Benchmark prices for **62% Fe** iron ore have remained resilient in early 2026, trading between **US$115 and US$125 per tonne**. This stability continues to provide a steady revenue stream for major domestic miners. Investor attention is now pivoting toward upcoming economic indicators. The **January unemployment rate**, scheduled for release on February 19, is a major focal point. Current data shows the labor market remains exceptionally tight, with unemployment at **4.1%**, the lowest level in seven months. Economists are watching to see if the jobless rate stays below the **4.2%** trend. Sustained strength in the jobs market has increased the likelihood of further interest rate moves from the Reserve Bank of Australia, with a potential cash rate hike to **3.85%** being actively discussed by market analysts. While the heavyweight miners and banks like **CBA**—which rose **12%** over the last five sessions—propped up the index, smaller companies faced headwinds. The **Small Ordinaries** index slipped **0.34%**, signaling that the current rally is highly concentrated in mega-cap stocks.