The Commonwealth Bank of Australia (ASX: CBA) share price is bringing up the rear of the big four banks on the ASX today.
Thursday is a good day for the major banks, particular when compared to yesterday’s slide.
At the time of writing, the CBA share price is $103.77, 1.1% higher than its previous close.
Meanwhile, shares in Westpac Banking Corp (ASX: WBC) are leading the big four banks with a gain of 3.1%.
The National Australia Bank Ltd (ASX: NAB) share price is coming in second best with a 2.2% gain. While the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is in third position with a gain of 2.1%.
The banks’ gains come as the broader market surges higher. Right now, the S&P/ASX 200 Index (ASX: XJO) is up 1.4% while the All Ordinaries Index (ASX: XAO) is up 1.3%.
Let’s take a closer look at what might be driving CBA’s stock, and that of its peers, higher on Thursday.
CBA share price brings up the rear on Thursday
The CBA share price is underperforming against those of its peers on Thursday, despite no news released by any of the big four today.
It comes after the Commonwealth Bank experienced the biggest dip out of all the big banks yesterday. The CBA share price fell 1.74% on Wednesday, alongside much of the broader market.
The ASX 200 fell 1.46% yesterday, possibly driven by a 2% drop experienced by the S&P 500 Index.
Despite its struggles, the CBA share price is still in the green this week. It has gained 2.2% since the market close last Friday.
The gain comes despite more than half of Australian households being in mortgage stress. As The Motley Fool Australia reported earlier today, 788,211 households have debt worth five times more than their incomes.
The post The CBA (ASX:CBA) share price is underperforming against the big four banks today appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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