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    CBA   AU000000CBA7

COMMONWEALTH BANK OF AUSTRALIA

(CBA)
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Delayed Australian Stock Exchange  -  02:10 2022-08-08 am EDT
102.60 AUD   +1.17%
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Property stocks lift Australia shares higher; CBA falls further

11/18/2021 | 02:00am EDT

* Financials extend fall fuelled by CBA's margin warning

* Property stocks gain 1.8%, best performers on ASX200

* Evolution Mining jumps almost 10% on mine acquisition

Nov 18 (Reuters) - Australian shares closed higher on Thursday after two straight sessions of falls, as property and gold stocks outweighed losses in heavyweight financials amid worries over tightening margins.

The S&P/ASX 200 index rose 0.13% to 7,379.2 after shedding 1.3% in the previous two sessions.

Property stocks led the recovery with real estate company Mirvac rising 1.8%, the most in a week, and property trust GPT Group climbing 2.2%.

Goodman Group advanced 2.5% to hit its highest in over 13 years after the property giant forecast a more than 15% growth in full-year operating earnings per security.

Financials fell 0.6%, extending losses fuelled by a margin-hit warning from Commonwealth Bank of Australia, the country's largest lender. Commonwealth Bank of Australia skidded 1.6%, while the rest of the "Big Four" lenders slipped between 0.9% and 1.4%.

"Money is coming out of banks and going into other equities, but most of the commentary from companies' AGMs and updates also seemed quite positive, so that's certainly helping the market at the moment," said Henry Jennings, a senior analyst at Marcustoday Financial Newsletter.

"House price growth will soon peak in December and the property market is making the best of it right now."

Gold stocks rose 2.7% as lower U.S. bond yields and dollar kept bullion prices supported.

Evolution Mining climbed 9.7% and was the best performer on the local bourse after the gold miner said it would buy Glencore's Ernest Henry copper-gold mine near Cloncurry for A$1 billion ($727.60 million).

New Zealand's benchmark S&P/NZX 50 index fell 0.29% to 12,800.3. ($1 = 1.3744 Australian dollars) (Reporting by Riya Sharma in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COMMONWEALTH BANK OF AUSTRALIA 1.17% 102.6 Delayed Quote.0.41%
EVOLUTION MINING LIMITED 0.73% 2.76 Delayed Quote.-32.51%
GLENCORE PLC 1.53% 466.8 Delayed Quote.24.50%
GOODMAN GROUP -3.36% 20.13 Delayed Quote.-21.40%
MIRVAC GROUP -1.42% 2.08 Delayed Quote.-27.49%
OMX STOCKHOLM 30 INDEX 0.86% 2015.55 Real-time Quote.-17.41%
S&P GSCI GOLD INDEX 0.05% 1043.37 Real-time Quote.-1.19%
S&P/ASX 200 0.07% 7020.6 Real-time Quote.-5.76%
THE GPT GROUP -1.83% 4.3 Delayed Quote.-19.19%
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Financials
Sales 2022 24 475 M 16 872 M 16 872 M
Net income 2022 10 628 M 7 327 M 7 327 M
Net Debt 2022 - - -
P/E ratio 2022 16,9x
Yield 2022 3,76%
Capitalization 172 B 119 B 119 B
Capi. / Sales 2022 7,04x
Capi. / Sales 2023 6,60x
Nbr of Employees 47 532
Free-Float 99,2%
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Technical analysis trends COMMONWEALTH BANK OF AUSTRALIA
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Mean consensus UNDERPERFORM
Number of Analysts 17
Last Close Price 101,41 AUD
Average target price 91,98 AUD
Spread / Average Target -9,30%
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Managers and Directors
Matthew Comyn Group Executive-Retail Banking Services
Alan Frank Docherty Chief Financial Officer
Catherine Brighid Livingstone Chairman
Pascal Boillat Chief Information Officer
Sinead Taylor Chief Operations Officer
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