The staggering rally in Commonwealth Bank is expected to extend into 2025 as money from retail investors and Australia’s superannuation giants keeps pushing the shares to new peaks, defying market expectations.
The country’s largest bank has already advanced 39 per cent this year and briefly traded above $160 for the first time, making it the world’s most expensive bank stock – ahead of Wall Street’s top investment banks.
Sarah Jones is the markets editor at The Australian Financial Review. She is based in the Sydney newsroom. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
