Texan investment giant's $1b buy order pumps up CBA's share price
Fisher Investments, founded by billionaire stockpicker Ken Fisher in 1979, manages more than $US299 billion ($459 billion) for thousands of clients. Sources said Fisher was buying on behalf of clients who wanted to increase the exposure of their share portfolios beyond volatile markets in the United States.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
34 minutes ago
- News.com.au
Big bank's bombshell rate cut move
One of Australia's big four banks has just dropped a financial bombshell, slashing interest rates further than the Reserve Bank went – effective immediately. Hot on the heels of RBA's 0.25 per cent cash rate move this month, the Commonwealth Bank put in a huge 0.45 percentage point fixed rate cut, effective Friday. A CBA spokesman told News Corp 'effective today, we will reduce Fixed Rate Home Loan interest rates for new lending by up to 0.45 per cent p.a.' 'As Australia's largest lender, we remain committed to delivering value through a diverse range of home loan options, supported by expert advice and digital tools designed to meet the evolving needs of our customers.' The biggest drop was reserved for its interest only two year fixed rate investment home loan, which was cut 0.45pp to 5.69 per cent, though its lowest fixed offering was on a two year principal and interest loan for owner-occupiers which dropped 0.30pp from 5.59pc to 5.44pc Friday. It has also amped up the pressure on competitors via a new Digi Home Loan offering, where CBA has brought in its lowest variable rate for new owner-occupied home loans at 5.34 per cent. Aus landlord's epic council battle ends in demolition NRL player Billy Walters' massive payday as he steps in for Mam Given the pressure on Aussie households in the past year, the interest rate cuts come as welcome relief for many, with Canstar data insights director Sally Tindall saying a typical borrower had now saved the equivalent of a trolley of groceries in repayment costs. 'For a typical borrower with a $600,000 mortgage, they're looking at a total relief package of around $272 a month after what's now been three cuts. That's the equivalent of one trolley-full of groceries every single month,' she said. The CBA moves make it equal first with Westpac for the lowest variable rates of the big four banks at 5.34pc, while the lowest fixed rates of the top majors was held equally by NAB and ANZ at 5.19pc. All four are still lagging the market leading rate which is currently 4.99pc. ANZ and CBA kicked in their new variable home loan rates for existing customers Friday, by 0.25 percentage points on the back of last week's RBA decision, while NAB and Westpac variable home loan customers will have to wait until next Monday and Tuesday respectively for their cut to begin, Ms Tindall said.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
The big banks are making billions and there's good news for households
The big four banks collectively have about $1.8 trillion in home loans to millions of households, making these companies critical barometers for how the wider economy is performing. This month, the major banks released their latest numbers to investors, and at times, it led to huge share price swings. More than $15 billion was wiped off Commonwealth Bank's value (a 5.4 per cent fall) after its results last week, and Westpac surged 6.3 per cent when it handed down its own set of numbers the next day. But as well as being a big deal for investors, the banks' updates also show how the financial landscape facing households and small businesses is evolving. Here are four key takeouts from this month's full-year results from the Commonwealth Bank, and the quarterly filings from NAB, Westpac and ANZ. Bad debts 'extremely low' Interest rate cuts, falling inflation and tax cuts have all helped to take some financial pressure off households in the past year – and that's meant severe mortgage stress has eased a bit. Our two biggest retail banks, CBA and Westpac, said there were fewer customers receiving hardship support. CBA – which holds about one in four Australian home loans – said its costs from impaired loans fell in the year to $726 million, and its loan loss rate was just 7 basis points (0.07 per cent). Mortgage arrears were flat, and the bank said its spending data from credit and debit cards showed the pressures on households were easing somewhat. CBA chief Matt Comyn said the recovery in spending had been sharpest for the younger generations – who were hit particularly hard by the cost of living crunch – though he stressed many were still doing it tough. 'I think the trajectory and the momentum is a positive sign, but certainly not in a way that would understate still some of the challenges that many households would still be feeling,' Comyn said.
The Age
an hour ago
- The Age
The big banks are making billions and there's good news for households
The big four banks collectively have about $1.8 trillion in home loans to millions of households, making these companies critical barometers for how the wider economy is performing. This month, the major banks released their latest numbers to investors, and at times, it led to huge share price swings. More than $15 billion was wiped off Commonwealth Bank's value (a 5.4 per cent fall) after its results last week, and Westpac surged 6.3 per cent when it handed down its own set of numbers the next day. But as well as being a big deal for investors, the banks' updates also show how the financial landscape facing households and small businesses is evolving. Here are four key takeouts from this month's full-year results from the Commonwealth Bank, and the quarterly filings from NAB, Westpac and ANZ. Bad debts 'extremely low' Interest rate cuts, falling inflation and tax cuts have all helped to take some financial pressure off households in the past year – and that's meant severe mortgage stress has eased a bit. Our two biggest retail banks, CBA and Westpac, said there were fewer customers receiving hardship support. CBA – which holds about one in four Australian home loans – said its costs from impaired loans fell in the year to $726 million, and its loan loss rate was just 7 basis points (0.07 per cent). Mortgage arrears were flat, and the bank said its spending data from credit and debit cards showed the pressures on households were easing somewhat. CBA chief Matt Comyn said the recovery in spending had been sharpest for the younger generations – who were hit particularly hard by the cost of living crunch – though he stressed many were still doing it tough. 'I think the trajectory and the momentum is a positive sign, but certainly not in a way that would understate still some of the challenges that many households would still be feeling,' Comyn said.
