May 9, 2024

Australian shares opened lower by 0.4% due to Commonwealth Bank’s decreased quarterly profit, leading to selling pressure on financial stocks, while multiple retailers also declined on reports of reduced consumer spending amidst rising living costs. This reflects a diverse consumer landscape, with older generations weathering higher interest rates better than younger ones, echoing similar trends […]

The Commonwealth Bank (ASX:CBA) is expecting little growth in its full-year profit for the year ending on June 30th after revealing a dip in third-quarter earnings on Thursday. The bank attributed the 5% drop in unaudited cash earnings over the three months to March, amounting to $2.4 billion, to “slightly lower margins.” Although slightly better