The Royal Commission into our bad banks starts tomorrow:
“The Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry will hold an initial public hearing in Melbourne at 10 am on Monday, February 12. The venue is Level 6, 11 Exhibition Street.
The hearing will be streamed live via the Royal Commission’s website and a transcript will be made available on the Digital Finance Analytics (DFS) website shortly after the hearing.”
I am not sure whether this drawn-out inquiry will hurt banks' share prices during the hearing...I guess it depends on what is revealed and how the media handle it and how much investor sentiment turns against the banks.
I guess the big event will be the recommendations and penalties that come out at the end, in about 12 months time. However, if the sentiment towards banks turns really stinky during the inquiry, then that might hurt the banks share prices, and in turn the XJO.
What a pathetic country we are to have our four banks represent such a huge chunk of our index! Why don’t we have real world-class industries listed instead? aren’t we supposed to be clever?
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Last
8,559.2 |
Change
-71.100(0.82%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |