The confounding share price rise of Australia’s big four banks in 2024 may be down to the weight of big superannuation money, according to JPMorgan.
While the major banks delivered an average 33 per cent total return over the year, and Westpac a standout 48 per cent, sell-side analysts and fund managers were screaming “sell” and warning the big four were overvalued.
Loading...
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
