May
26
Australian Banks Look a Lot More Like Bank Stocks After Drop
ByAfter losing A$57 billion ($44 billion) in market value, Australian bank stocks are starting to look more like, well, bank stocks.
Valuations on a gauge of the nation’s lenders are near the cheapest relative to the global average since January 2013. Just two months ago, they traded at the biggest premium since Bloomberg began compiling the data in 2005. The shares that led Australia’s six-year rally have slumped amid concern about heftier capital requirements, driving multiples on Commonwealth Bank of Australia and its three main peers in May to the lowest this year…
Australian Banks Look a Lot More Like Bank Stocks After Drop
