That’s all from the ABC business team for today and thanks for staying with us.

Don’t forget to catch up with The Business on ABC News at 8:44pm, after the late news on ABC TV, and any time on ABC iview.

We’ll see you tomorrow morning to continue bringing you the latest on financial news.

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The Australian share market has finished the day up 0.4% at 8,940 points.

Overall, the market had 124 stocks gaining, 9 unchanged and 67 stocks in the red.

When looking at the sectors, Technology was at the top, up 1.9%, followed by Healthcare, up 1.8% and then Energy, up 1%.

Materials is the only sector in the red, finishing at the bottom, down 0.4%.

Among companies, the top mover was Viva Energy, up 11.9%, followed by Magellan Financial Group and Catapult Sports, up 10.5% and 10.3%, respectively.

It wasn’t a good day for Monadelphous Group, down 4.6%, followed by Genesis Minerals and QBE Insurance, down 4.2% and 3.5%.

The Australian dollar is pretty flat, down 0.4% at 70.43 US cents.

 If you missed the Star Entertainment saga today, you can catch up with our latest Law Report episode on ABC Radio National here.

We have Anthony Whealy, former NSW Supreme Court judge, as our guest for the show.

Tune in!

China has asked companies to suspend signing new contracts to export refined fuel, and to try and cancel shipments already committed, as a widening Middle East conflict curbed refinery output, several industry and trade sources with knowledge of the matter have said

The call does not apply to jet fuel refuelling for international flights, bonded bunkering or supplies to Hong Kong or Macau, the people said.

Lower exports from China, one of Asia’s biggest fuel exporters, are likely to exacerbate the tight fuel supply situation in Asia, pushing refining margins even higher.

Diesel’s processing margins were hovering at three-year highs near $US49 a barrel, LSEG pricing data showed on Thursday, while jet fuel cracks were more than $US55 a barrel.

As most of the March export program has been fixed and it is hard to recall cargoes, the new government communication is expected to cut into exports from April onwards, the sources added.

For March, exports of gasoline, diesel and jet fuel combined were expected to remain steady versus earlier industry estimates of around 3.8 million metric tons, as companies cashed in robust Asian margins, multiple sources said.

Thousands of tonnes of refined fuel already shipped out

LSEG ship-tracking data showed some 70,000 tonnes of jet fuel, 35,000 tonnes of diesel and 35,000 tonnes of gasoline have been shipped out so far this month.

China manages its refined fuel exports via a quota system to balance the supply-demand fundamentals in its local market, with its first batch of quota issuance for 2026 little changed from a year ago at 19 million tons.

Three regional buyers of China-origin cargoes told Reuters on Thursday they would still be receiving their March deliveries in line with earlier loading schedules.

At least two Chinese refineries — privately led Zhejiang Petrochemical Corp and Sinopec-operated Fujian refinery — have begun reducing throughput this month, and more plants are expected to curb output as the continuing Middle East conflict disrupts crude oil flows, sending prices surging.

Reporting with Reuters

China has said it will reduce the production capacity of steel, oil refining, and other industries in an orderly manner while strengthening the production capacity management of copper smelting, alumina, coal, and chemical industry, among others.

The world’s largest energy consumer will also promote the supply-demand balance in key industries of steel, nonferrous metals, building materials, petrochemicals, and chemicals, according to an official report from the National Development and Reform Commission.

Reporting with Reuters

Household consumption did not deliver the expected strength in the GDP data, says Neha Sharma, Westpac’s economist.

“There were some quirks, and taken together with today’s print and signals from our tracker, spending growth leans more towards a stabilisation than a slowing.”

Alcohol and tobacco was the main drag, down 1.7% compared to the previous month. Excluding this component, Ms Sharma says, spending would have risen 5.4%yr.

Housing‑related and hospitality categories also weighed on the month, she says.

Ms Sharma highlights that state outcomes were mixed.

“Growth was led by a rebound in NSW and Vic momentum has softened across all states in recent months, with WA the only state showing softer trends than at the start of 2025.

“Household spending rose 0.3% MoM in January, in line with its average monthly pace over the past two years.

“Annual growth continued to ease.

“At 4.6%yr it implies real per‑capita spending has declined over the year.”

Fertility giant Monash IVF has agreed to pay financial settlements to families involved in two major bungles that saw two women transferred the wrong embryo.

In a statement today, a spokesperson confirmed the company had settled or agreed to settle with the families affected.

Monash IVF said its insurers had confirmed a binding agreement for the claims in its half-yearly results report released last month.

Read more of my colleague Antonia O’Flaherty‘s reporting.

Investor demand for precious metals remained robust despite ongoing market volatility, according to Neil Vance, the Perth Mint’s general manager minted products.

“We continued to see strong retail demand for silver products across all key regions, with the 1 troy ounces (oz) silver kangaroo coin again the standout performer,” Mr Vance said.

“Gold performed strongly during the month, driven primarily by excellent sales of gold kangaroo coins in Australia, Germany and across Asian markets.

“The combination of global uncertainty and price volatility is clearly creating opportunities for investors, reinforcing demand for trusted, high-quality bullion products.”

Gold began the month under pressure following the sharp selloff at the end of January, briefly trading as low as $US4,400, the Perth Mint says.

For the remainder of the month gold traded within a narrow and less volatile range around $US5,000, as Lunar New Year celebrations contributed to softer physical demand across key Asian markets.

Towards the end of the month, gold pushed higher, supported by weaker-than-expected US economic data, rising geopolitical tensions surrounding Iran, and market uncertainty.

The Perth Mint sold 67,249oz of gold and 1,924,964oz of silver in minted product form during February.

• ASX 200: +0.3% to 8,924 points
• Australian dollar: -0.3% to 70.49 US cents
• Wall Street: Dow Jones (+0.5%), S&P 500 (+0.8%), Nasdaq (+1.3%)
• Europe: FTSE (+0.8%)
• Gold: +0.8% to $US5,178/ounce
• Silver: +1.6% to $US84.77/ounce
• Oil (Brent crude): +3% at $US83.80/barrel
• Iron ore: +1% to $US100.55/tonne
• Bitcoin: -1.2% to $US72,492

Price current around 3pm AEDT

Live updates on the major ASX indices:

Prime Minister Anthony Albanese has announced Australia and Canada have signed a deal to deepen ties on critical minerals, during a state visit from Canadian Prime Minister Mark Carney.

The agreement comes as the global race to secure critical minerals is ratcheting up, with China having a chokehold on most of the world’s supply. The minerals are vital for key industries such as renewable power, consumer technology, and manufacturing.

In an address to Federal Parliament — the first by a Canadian prime minister in nearly 20 years — Mr Carney called for more investment and cooperation between the two economies.

“In a world of great power rivalry, middle powers have a choice: compete for favour or combine for strength,” he said.

Together, the two countries produce more than 40 per cent of global iron ore, and over a third of lithium ore.

In the shadow of an increasingly unpredictable United States,  former banker Carney has pushed to uncouple the Canadian economy from its southern neighbour, looking elsewhere for investment.

Yesterday, Carney announced a deal with nine of Australia’s biggest superannuation funds.

Reported with Reuters

Infrastructure investment at Australia’s four largest airports increased by more than 43 per cent in 2024-25, according to the Australian Competition & Consumer Commission (ACCC).

The watchdog says in its latest Airport Monitoring Report consumers could face higher airfares as airports seek to recover their costs by charging airlines more in the coming years.

Australia’s four largest airports, Brisbane, Melbourne, Perth and Sydney, collectively invested $1.5 billion on aeronautical facilities in 2024-25 – funding projects to expand capacity, upgrade terminals, and improve access.

This marks a shift from the relatively low levels of investments in the period after the pandemic, and reflects major construction works now underway at all four airports, the ACCC says.

The airports have collectively proposed spending almost $20 billion in major infrastructure projects over the next decade.

“Ongoing investment is needed to ensure airports can continue to meet the needs of travellers and airlines, with Sydney, Melbourne, Brisbane and Perth airports collectively handling about 120 million passengers in 2024-25,” ACCC commissioner Anna Brakey said.

“Large capital programs are likely to place upward pressure on airport charges paid by airlines, which may result in higher airfares for passengers as these costs are recouped,” she said.

“It is important that airport charges reflect sensible and timely investment decisions, efficient costs and a rate of return that matches the risks involved.”

The ACCC says airport charges are not regulated and it has consistently raised concerns that the current monitoring framework is inadequate and an ineffective constraint on the behaviour of the major airports, who hold market power.

Hi Jimmy,

Thanks for your question.

Our business correspondent David Taylor has kindly shared some of his insights.

Here’s what he says:

We’re known as a “sheep market”.

That said, we follow Wall Street.

Wall Street’s moves have been far less volatile than Japan and South Korea.

There’s also plenty of rotation in the ASX.

That is, dumping BHP and buying CBA, or vice versa.

Hope this helps.

China has set its economic growth target for 2026 at 4.5%-5%, a slight downgrade from the 5% pace achieved last year.

That said, the revised target leaves room for greater, albeit not decisive, efforts to curb industrial overcapacity and rebalance the economy.

The target appeared in an official government report due to be presented in the country’s parliament, which opens its annual session today with a speech by Premier Li Qiang.

China is also due to release its 15th five-year plan, which sets strategic objectives and policies for 2026-30.

Analysts have said a lower growth target gives Beijing more flexibility to implement reforms that make the world’s second-largest economy less reliant on exports for growth, having posted a record $US1.2 trillion trade surplus in 2025.

Still, the adjustment does not represent a major structural shift.

Beijing is wary that tilting too far from a production-heavy model to a consumer-led one risks eroding decades-old pillars of growth that have turned it into a manufacturing superpower, enabling it to exercise supply chain leverage over Washington and its allies at a time when the rivalry is intensifying.

Analysts at the Mercator Institute for China Studies describe promises to consumers as “hollow”, saying that the leadership believes that expansive support for key industries best serves national interests at a time of great power competition.

“Precariously balanced as it is, China’s economic policy will continue to systematically favour companies over households,” analysts wrote in a note before the parliament meeting.

“Beijing will persist in slow-rolling measures to expand social welfare, while using generous subsidies and tax incentives to drive industrial growth and upgrading.”

Reporting with Reuters

Today’s household spending data probably weakens the case for a rate hike in March, despite RBA Governor Bullock’s assertion that the meeting will be “live”, according to Abhijit Surya, senior APAC economist at Capital Economics.

“However, if we’re right that consumer spending is likely to prove stronger than the monthly household spending indicator is suggesting, there’s still a compelling case for the bank to tighten policy settings before long,” he said.

“All the more so, given that the economy is growing above potential and inflation is well above the bank’s 2-3% target.

“The upshot is that we still expect the RBA to deliver two more 25bp hikes this cycle.”

As we reported earlier, ABS’s latest figure shows household spending rose 0.3 per cent month-on-month in January, following a 0.5 per cent fall in December and a 1 per cent rise in November.

Circling back to Star Entertainment, we’re receiving more reports from Alison Branley who is at the hearing today.

The two former Star Casino executives found to have breached Corporations’ Law could be facing millions of dollars in fines.

Justice Michael Lee in the Federal Court today found former Star CEO Matt Bekier and former general counsel Paula Martin had seven breaches of director’s duties between them.

The case was brought over the casino’s handling of money laundering risk between 2017 and 2019.

Each breach carries a maximum penalty of up to $1,050,000.

The penalties will be determined at a hearing at a later date. It is up to the court to determine any disqualification periods.

For a further seven directors, the court found the regulator ASIC did not make its case.

As we get near to the middle of the trading day, the technology sector is leading the market, gaining 3.7% and rebounding from its recent decline.

The ASX 200 also rose to 8,932 points, up 0.4% following a loss yesterday.

Among the best performing individual stocks today are Magellan Financial Group, up 9.1%, followed by Iperionx Ltd, up 8.6%, and DroneShield, up 8.3%.

Among the worst performing stocks are Westgold Resources, down 3.7%, followed by Capricorn Metals, down 3.6%, and Genesis Minerals, down 3.1%.

Star’s former top boss and its legal counsel both breached their director’s duties during the casino’s scandalous Chinese money laundering era, the Federal Court has found.

In a seething judgement, Justice Michael Lee specifically found former Star CEO Matthias Bekier should have been aware a Chinese junket operator had been accused of being involved in money laundering.

“The primary foreseeable risk if any debt owing was not paid or recovered,” Justice Lee said.

“I’m satisfied Mr Bekier breached section 180 of the Corporations Act.”

My colleagues Emilia Terzon and Alison Branley have more.

Justice Michael Lee has found former CEO Matthias Bekier and former top lawyer Paula Martin in breach of section 180 of the Corporations Act, which requires due diligence and reasonable care of directors and officers of companies.

ASIC had argued in court the casino was being used to launder money, and that management hadn’t been active enough to prevent it.

The remaining 7 defendants were found not in breach of their duties.

• ASX 200: +0.4% to 8,937 points
• Australian dollar: +0.1% to 70.79 US cents
• Wall Street: Dow Jones (+0.5%), S&P 500 (+0.8%), Nasdaq (+1.3%)
• Europe: DAX (+1.7%), STOXX 600 (1.4%), FTSE (+0.8%)
• Gold: +1.5% to $US5,179/ounce
• Silver: +0.1% to $US84.69/ounce
• Oil (Brent crude): +2.1% at $US83.08/barrel
• Iron ore: +1.3% to $US100.90/tonne
• Bitcoin: -0.6% to $US72,642

Price current around 12:08pm AEDT

Live updates on the major ASX indices: