A large slump in Commonwealth Bank held the sharemarket back on Friday, but the ASX still managed to end the first week of earnings season slightly higher.
Investors on Friday moved more aggressively to sell CBA shares as further details emerged of the scope of the civil case being brought against the bank by the anti-money laundering regulator. CBA shares dropped a sharp 3.9 per cent to drag the benchmark S&P/ASX 200 index down 0.25 per cent to 5720.6 points.
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Jens Meyer is the markets and breaking news editor, based in Sydney. Connect with Jens on Twitter.
Patrick Commins reports and comments on trends and news in domestic and global investment markets. Connect with Patrick on Twitter. Email Patrick at p.commins@afr.com
Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
