Rate of freefall3/30/2023 ![]() More recently, in August last year, with the CBA share price trading around $100, I said it looked “downright expensive”. I’ve been wrong on CBA shares for as long as I can remember. “Given CBA is trading on 19x P/E, we expect the shares to be soft today.” ![]() Investing can be tough.Ģ) Tough crowd these stock market investors, with the Commonwealth Bank of Australia share price falling 6.1% despite it reporting a 9% lift in cash profit and a hefty 20% hike in its interim dividend.Īccording to the Australian Financial Review, investment bank Barrenjoey “has warned analysts are likely to downgrade profit margin forecasts for CBA after its net interest margin – as a key measure of profitability – peaked in October”. Animal spirits and speculation may have seen Corporate Travel Management shares previously get ahead of themselves. Corporate Travel Management shares have plunged 38% from their 52-week high despite a very strong travel recovery. The biggest faller in the ASX 200 is the Corporate Travel Management Ltd ( ASX: CTD) share price, down 8% to $15.86 despite guiding to a record full-year profit and saying “travel demand remains strong with no signs of macroeconomic factors impacting the recovery”.īased on the share price reaction, the market sees things differently. The big four banks are doing most of the damage, coming after Commonwealth Bank of Australia ( ASX: CBA) reported first half results. 1) It’s turning out to be a tough day for the S&P/ASX 200 Index (ASX: XJO), down 92 points or 1.2% in early afternoon Wednesday trade.
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