SYDNEY, AAP – Commonwealth Bank shares have traded for $100 for the first time since the bank joined the market in 1991.
The shares reached as much as $100.30 in the first hour of trade on Wednesday after opening at $99.25.
The bank joins a select group of companies that have stocks trading for more than $100.
These are biotech CSL ($291.29), hearing implant provider Cochlear ($225.95), property advertising firm REA Group ($162.85), investment group Macquarie ($151.93), accounting software vendor Xero ($128.65), miner Rio Tinto ($119.43) and Dominos Pizza ($113.13).
Commonwealth shares had since eased but were still higher by 0.36 per cent to $99.99 at 1101 AEST.