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.
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Cécile Lefort is a markets reporter based in the Sydney newsroom. Cécile worked in New York and Hong Kong writing about global capital markets. Email Cecile at cecile.lefort@afr.com
Sarah Jones is the Financial Review’s markets editor based in the Sydney newsroom. She has covered financial markets, economics and asset management for more than two decades including 12 years for Bloomberg in London. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
