FEAR & GREED | Business News Afternoon Report | CBA profit; shares sold off
Aug 13, 2025
CBA's significant sell-off raises eyebrows in the market. Companies announce their results, revealing intriguing insights into the economy. Wages remain steady, suggesting stability amidst fluctuations. Meanwhile, an epic win captures attention. The worsening crisis in Israel continues to demand international focus and humanitarian aid, spotlighting the urgent need for ceasefire.
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Banks Drive Market Swing
- The ASX 200 opened at a record then fell 0.6% as Commonwealth Bank shares plunged on valuation concerns.
- Major banks dragged the market lower while miners and healthcare stocks outperformed.
Profit Met Expectations, Shares Fell
- CBA reported a $10.25 billion cash profit roughly in line with expectations.
- Investors still sold the stock heavily due to concerns about valuation and outlook.
Rotation Into Miners And Healthcare
- Miners BHP, Rio Tinto and Fortescue rose over 1% as money rotated out of banks.
- Healthcare stocks like Clarity Pharmaceuticals and CSL were also notable winners.