ASX Market Update: Coles and Qantas build confidence for Aussie bourse | February 27, 2025

The ASX 200 has been higher today, rising by a third of a percent to nearly 8,268 points.

The market had opened on the upside, by 0.1%, and continued to gain strength as prominent stocks Qantas and Coles reported positive earnings and share price gains, while better-than-expected results from US chipmaker Nvidia also bolstered sentiment.

Coles said its sales revenues for the half year ended December 2024 had been up 3.7%, while Qantas told investors that customer demand had pushed its underlying profit after tax up 11% in the same period.

It’s also a strong day for greens: with seven sectors falling under this umbrella, including Consumer Staples, up 2.27%, Materials, 1.16% and Telecommunication Services, up 0.86%.

The reds were led by Real Estate, down 0.35%, followed by Health Care, down 0.33%, and Information Technology, down by 0.21%.

Eagers Automotive Ltd (ASX:APE) was more than 21% higher, after posting a record revenue of $11.19 billion for year ended December 2024. This was up from $9.85B in 2023.

 Shares in Eagers were $15.05.

Ramsay Health Care Ltd (ASX:RHC) was also up – by nearly 14% – after making inroads in the potential sale of a 52.8% stake in European company Sante, which shareholders had supported, through the appointment of Goldman Sachs as advisor on this.

Ramsay last traded at $38.60.

And, English teaching provider IDP Education Ltd (ASX:IEL) saw its shares drop 10%, influenced by weakness in the International Student market.

IDP shares were $10.61