Commonwealth Bank sets intraday record as big banks rally
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The news: Australia’s five biggest banks were all trading at least 1% higher on Tuesday afternoon, with Commonwealth Bank setting a fresh intraday record, before the second day of US-China trade talks get underway.
The numbers: At 2:34pm AEST, CBA’s shares were up 1.07% to $181.83 after setting a new high of $182.25 earlier in the day. The bank also announced today it has completed its sale of shares in Bank of Hangzhou to New China Life Insurance.
Westpac shares were up 1.5% to $33.66 after it announced the appointment of Westpac New Zealand and A2 Milk chair Philippa Greenwood to its board this morning.
Meanwhile, ANZ was up 1.4% to $29.91, NAB was up 1.6% to $39.18, and Macquarie was up 1.1% to $218.28.
The broader financial sector was up 1.2%.
