Interest rates on hold!

Today, the Reserve Bank of Australia (RBA) kept the cash rate steady at its record low of 0.25%. The RBA normally meets on the first Tuesday of every month to decide the direction of the nation’s monetary policy. It can technically either raise, lower or hold interest rates steady. But everyone knew the only real choice of today’s meeting would be whether to cut to zero or not.

So even though interest rates are still not quite at their absolute limit, in my view it doesn’t really make much difference at the end of the day if the cash rate is at 0.25% or zero.  

RBA governor Philip Lowe also flagged that rates will be at record lows for some time, stating, “the Board will not increase the cash rate target until progress is being made towards full employment and it is confident that inflation will be sustainably within the 2–3 per cent target band”.

So if low rates are indeed here to stay, here are 3 consequences I see happening for ASX investors.

Low interest rates means cash is no longer king

Cash will continue to be a lousy asset to hold over the long-term. That’s because the interest rates that you can expect to receive on cash investments like term deposits and savings accounts won’t meaningfully rise unless the RBA lifts interest rates. Thus, we can expect cash to continue to generate very little real return when considering the effects of inflation.

ASX 200 share prices will rise

Low interest rates have an indirect effect on the value of ASX shares. That’s because most valuation models use the ‘risk-free return’ of government bonds to figure out how much a share is worth. If interest rates remain low, so will the yield of government bonds.

Therefore, I expect the value of the S&P/ASX 200 Index (ASX: XJO) to be higher over the medium to long-term than they otherwise would be if interest rates were at more ‘normal’ levels (although it looks as though this is the new ‘normal’).

Expect more volatility

As a consequence of the first 2 impacts, I expect volatility to continue to be a feature of the share market while interest rates remain so low.

The fact that there are now very few avenues to building wealth outside the share market means that there will be more capital sloshing around. You will have investors who don’t really want to be in ASX shares but simply have no alternative.

As such, I expect higher loss aversion behaviours to be in play. There are going to be a lot of investors who don’t want to lose capital and are therefore more likely to sell their investments during natural downturns or corrections in the market.

In my opinion, all of this points to an increased level of volatility in shares going forward – as if we haven’t had enough of that this year already!

More reading

• 3 things ASX investors need to know about the RBA’s rate decision today
• These ASX shares were among the best performers in May, surpassing the ASX 200
• Could Goldman Sachs’ 2020 predictions for the US share market spell the end of the ASX 200s remarkable rise?
• The 3 ASX tech stocks that helped this fund manager outperform in May
• Is the a2 Milk share price too high to buy?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Aurelia Metals Ltd (ASX: AMI) share price has taken off today after the small-cap ASX miner released a production update. 

Aurelia Metals is a mining and exploration company with a strategic landholding in the polymetallic Cobar Basin in New South Wales. The company operates 2 wholly-owned gold and base metal operations, Peak Mine and Hera Mine, along with 2 processing plants.

Aurelia is a gold-dominant business and in FY19, produced 117,521 ounces of gold at a group all-in sustaining cost of $1,045 per ounce. 

Why the Aurelia Metals share price is charging higher

This morning, Aurelia provided an update on group production for the June 2020 quarter to date. 

The company decided to provide these interim figures in light of the current absence of guidance due to COVID-19. Aurelia withdrew its guidance back in March given the uncertainty surrounding the spread, duration and impact of the pandemic.

Preliminary group production figures for the June quarter to 31 May 2020 are:

• Gold: 16,300 ounces
• Copper: 1,250 tonnes
• Lead: 3,300 tonnes
• Zinc: 2,300 tonnes

This represents a significant boost to the production figures announced for the March 2020 quarter.

Gold production in the entire March quarter came in at 14,304 ounces, while copper production was 871 tonnes. So in the first 2 months of the current quarter, Aurelia is already beating these production figures by 14% and 44%, respectively.

Lead is tracking along relatively in line with March figures of 4,657 ounces. However, zinc production in the current quarter is notably down from the 5,921 tonnes posted last quarter.

Nonetheless, on the whole, Aurelia is on track for a significantly improved quarter-on-quarter production result.

At the time of writing, the Aurelia share price has jumped 21.69% today to 43.2 cents. This takes the company’s market capitalisation to around $378 million.

More reading

• 3 things ASX investors need to know about the RBA’s rate decision today
• 2 cheap ASX 200 shares to buy right now
• Is the AFIC share price a buy right now?
• These ASX shares were among the best performers in May, surpassing the ASX 200
• 3 founder-led ASX shares to buy for strong long-term returns

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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No one will be surprised that the Reserve Bank of Australia (RBA) left interest rates unchanged at a record low of 0.25% today. But there are three things that every investor should know.

Before I get into that, it’s worth pointing out that the S&P/ASX 200 Index (Index:^AXJO) failed to react to the news as it continued to hover around breakeven.

But the Australian dollar ticked up slightly to US67.9 cents when the RBA released its monetary policy decision.

Currency traders are probably reacting to the relatively upbeat statement by RBA governor Philip Lowe and reassessing the prospects for negative interest rates.

Sounding upbeat

On the first point, the Governor Lowe is taking a glass half full perspective on the COVID-19 fallout.

While highlighting that we are suffering from the worst economic contraction since the Great Depression of the 1930s and that total hours worked dropped by a record 9% in April as 600,000 Australians lost their jobs, he thinks the downturn won’t be as bad as earlier expected.

The RBA also believes that bond markets are functioning well. So well in fact, that the central bank only had to buy government bonds once in the past month and that total purchases up to date stands at $50 billion.

Negative to negative rates

The second thing to note is that the market may be over estimating the chance of negative interest rates here.

Some believe that the RBA will have to adopt this drastic policy of charging financial institutions to park money with the central bank. Other central banks, like its European counterpart, have used this to stimulate their sagging economies.

Negative rates aren’t so much about lowering borrowing costs for businesses and consumers, but about “incentivising” nervous financial institutions to lend by penalising them for being too cashed up.

Dr Lowe played down the chances of negative rates here on a few occasions, and his statement seems to confirm this even though it didn’t mention negative rates.

Passing the buck to government

For one, his comments on how well bond markets are working suggest that the financial system is working as it should be.

The RBA’s relatively upbeat view on the economy further drives home the point with our central bankers looking to manage the economy with a light touch, in my view.

The RBA doesn’t look like it will be doing much in the interim as it is prepared to sit back to see what happens next.

This could put the federal government under more pressure to support the economy with the Morrison Government tipped to announce housing grants and other fiscal measures to support sectors of the economy that are on their knees.

Don’t feel abandoned

This takes me to the final takeaway from the RBA’s decision. While RBA may be taking a step back, it’s reassuring investors and borrowers that it stands ready to act if and when required.

No one knows how the unprecedented coronavirus crisis will play out, not even the central bank, but as Dr Lowe said: “the Bank is prepared to scale-up its bond purchases again and will do whatever is necessary to ensure bond markets remain functional.”

More reading

• These ASX shares were among the best performers in May, surpassing the ASX 200
• Could Goldman Sachs’ 2020 predictions for the US share market spell the end of the ASX 200s remarkable rise?
• The 3 ASX tech stocks that helped this fund manager outperform in May
• Is the a2 Milk share price too high to buy?
• ASX 200 investor in your 40s? 3 shares to buy now

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Whilst it has been a tumultuous few months for the S&P/ASX 200 Index (ASX: XJO), there are several companies that have benefitted directly from coronavirus-related lockdowns. Companies such as JB Hi-Fi Limited (ASX: JBH) did a roaring trade in work from home equipment. So too did Wesfarmers Ltd (ASX: WES) subsidiary, Officeworks. Yet several others have also benefitted with little or no fanfare. 

An ASX 200 growth giant

Jumbo Interactive Ltd (ASX: JIN) is one of the great growth shares of the past 10 years. It returned investors over 25 times their initial investment on 1 January 2010. Yet year to date, the company’s share price is still 20% down. 

Jumbo predominantly sells lottery games online. Prior to lockdown, 75% of lottery tickets were sold via retail outlets. I believe it’s fair to assume that even if lottery sales declined overall during the lockdown, the volume sold online is likely to have grown. As mentioned, Jumbo Interactive’s share price is 20% down year to date. The company recorded its lowest share price of $6.99 on 16 March, one week earlier than most of the market.

Jumbo is one ASX 200 growth company I particularly like. It has sound financials across most major valuation metrics. Compare this to say, Xero Limited (ASX: XRO), a company that posted its first profit last financial year.

Over the past 8 years, Jumbo has grown its sales volumes by 12.5% on average. Last year’s sales grew by 42% after the company began to license its software to other lottery sales organisations. 

Healthcare benefits

Ramsay Health Care Limited (ASX: RHC) initially appeared to be one of the definite ASX 200 losers of the pandemic. Early bans on elective surgeries were in place to ensure the availability of resources should COVID-19 take hold in Australia. This is the core of Ramsay’s revenue streams. 

However, very smart and agile thinking on behalf of the company has, at least, trimmed those losses. Over the course of the pandemic, Ramsay has done deals with governments throughout Australia and in the United Kingdom. These deals ensure that for the period of the agreements, the company will not lose money on its private hospitals. In return, it has guaranteed the availability of beds for coronavirus patients should they be required. 

We have seen agility across a range of smaller companies during the lockdown. However, it is rare to find an ASX 200 company able to act swiftly enough to mitigate lost revenue to this extent. Ramsay’s share price is down by only 5.8% year to date and is up by 48% since its low point on March 23. 

While it is presently trading at a price-to-earnings ratio greater than its 10-year average, I believe the company is selling at a good price. It has shown consistent growth over the past decade, and I remain impressed by the current management. 

More reading

• Is the AFIC share price a buy right now?
• 2 ASX 200 shares to watch on Tuesday
• 3 ASX shares to buy and hold for the next 2 decades
• 3 strong ASX dividend shares to buy right now
• Buy these ASX growth shares for monster returns

Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of Wesfarmers Limited and Xero. The Motley Fool Australia has recommended Jumbo Interactive Limited and Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Is the Australian Foundation Investment Co.Ltd. (ASX: AFI) share price a buy? The AFIC share price is recovering after the previous coronavirus market selloff.

It has done particularly well recently after the strong ASX bank rally. That saw AFIC shares go up 7.1% between 25 May 2020 to now.

If you haven’t heard of AFIC it’s the largest listed investment company (LIC). It has been operating for close to 100 years. The job of a LIC is to invest in other shares on behalf of their shareholders. AFIC has been doing a reliable job for decades.

What are some of the shares that AFIC is invested in?

I’m sure you recognise AFIC’s largest investments with shares like CSL Limited (ASX: CSL), Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP), Transurban Group (ASX: TCL) and Wesfarmers Ltd (ASX: WES). Essentially, it’s mainly invested in those large Aussie blue chips. 

AFIC isn’t as invested in banks as the ASX index, which would have helped lessen the market selloff a couple of months ago.

How has it performed compared to the ASX 200?

The AFIC share price held up pretty well during the coronavirus selloff. At the end of May 2020 AFIC could show that its net asset performance (including franking) performed 2.6% better than the S&P/ASX 200 Accumulation Index (including franking) over the past year, with a fall of just 3%. Despite that recent outperformance, it still lags the index over the past five and ten years.

However, at the moment the AFIC share price is trading at a 6.9% premium to the May 2020 net tangible assets (NTA). That means you’re buying $1 of AFIC for less than $1 of assets. Not a great deal.

The dividend has been reliable over the long-term – but will it continue to be sustainable if banks are not paying the same dividends as they were before? However, I do like that AFIC’s operating costs are so low at just 0.13% per annum.

AFIC isn’t a bad option. But it’s trading at a noticeable premium right now, so you may as well just go for an ASX 200 or ASX 300 exchange-traded fund (ETF) which you can buy at asset value.

More reading

• 2 cheap ASX 200 shares to buy right now
• Is the CSL share price a buy?
• 2 ASX 200 shares to watch on Tuesday
• 3 ASX shares to buy and hold for the next 2 decades
• 3 strong ASX dividend shares to buy right now

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of Transurban Group and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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So much for ‘sell in May and go away’.

May turned out to be a stellar month for the S&P/ASX 200 Index (ASX: XJO) and the broader ASX share market.

Over the month, the ASX 200 returned 4.2%. This is around half of the total return you can typically expect from ASX 200 shares over a year. Not bad!

But of course, some shares fared better than others during the month, outperforming the ASX 200. And some blue chips, like the big four banks, did exceptionally well. Others, like Telstra Corporation Ltd (ASX: TLS) and Woolworths Group Ltd (ASX: WOW), did relatively poorly.

So here are some of the best performing ASX shares over the month of May

Afterpay Ltd (ASX: APT)

By any metric possible, the Afterpay share price had a phenomenal month in May. Afterpay started the month at $31.20 and finished it at $47.41. This delivered the buy-now-pay-later (BNPL) giant a monthly gain of 52%. This ASX 200 stock also hit a new all-time high of $50.01 during May.

Afterpay shares are now over 400% higher than the lows we saw in March, proving once again how treacherous betting against this volatile company can be.

Zip Co Ltd (ASX: Z1P)

Another ASX payments company, Zip had an even better month in May than Afterpay. Zip Co shares started off the month at $2.39 and finished up at $3.75 – a rise of 56.9%. Like Afterpay, investors’ concerns that BNPL companies would be inundated with defaults has proven to be largely unfounded.

It’s probably very good timing for the company to announce a trading halt and a capital acquisition program, which it did yesterday.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue Metals is another ASX 200 company that had a fantastic month during May. Its shares were up over 16% by the end of the month. This preceded the printing of another new, all-time high of $14.88 per share today.

A rising iron ore price, partly caused by production issues in Brazil throughout May, was the main driver of the rising Fortescue share price. Iron ore is now at a multi-year high at close to US$100 per tonne. If this price holds up for the rest of the year, I think we can expect the Fortescue share price to do the same.

Webjet Limited (ASX: WEB)

Here we have another ASX 200 company that pulled a rabbit out of its hat in May with a 35.3% increase in its share price for the month.

Webjet, as an ASX travel stock, was smashed in March as travel restrictions were implemented. But rumours of a possible ‘trans-Tasman bubble’ that will allow travel between Australia and New Zealand in the near future has partially restored investors’ confidence in the company. Even so, this ASX 200 share remains nearly 60% lower than its 2020 highs.

More reading

• 3 things ASX investors need to know about the RBA’s rate decision today
• Zip Co share price rockets 44% higher on U.S. expansion news
• Could Goldman Sachs’ 2020 predictions for the US share market spell the end of the ASX 200s remarkable rise?
• The 3 ASX tech stocks that helped this fund manager outperform in May
• 3 investing secrets for success with ASX shares

Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Telstra Limited and Webjet Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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As my colleague pointed out in this article several years ago, listed founder-led companies have historically outperformed the rest of the market by some distance.

There are a number of factors that are potentially behind this phenomenon, but I think Ben Horowitz from venture capital firm Andreessen Horowitz sums it up best.

When explaining why Andreessen Horowitz prefers to invest in companies that are founder-led, Mr Horowitz said:

“Founding CEOs naturally take a long view of their companies. The company is their life’s work. Their emotional commitment exceeds their equity stake. Their goal from the start is to build something significant. They instinctively know that big product cycles come from investment and that even the biggest product cycles will eventually fade.”

Mr Horowitz added: “Professional CEOs, on the other hand, tend to be driven by relatively shorter-term goals. They are paid in terms of stock options that vest over 4 years and cash bonuses for quarterly and yearly performance.”

This is seen as a big negative, as it takes time to innovate.

“Investments in innovation do not pay out in the current quarter. Typically, they don’t even pay out in the current year. If you care about your bonus this year, you are directly incented not to make investments in new inventions as you will incur the expense, but reap no profits,” he explained.

Given the success that Andreessen Horowitz has had investing in founder-led companies, it’s hard to argue against this.

The venture capital firm made early investments in the likes of Facebook, Slack, Instagram, and Airbnb.

Are there founder-led companies on the ASX?

There are actually a decent number of founder-led companies on the Australian share market for investors to choose from.

I like the look of Kogan.com Ltd (ASX: KGN) as a long term investment. The ecommerce company, which is led by Ruslan Kogan, looks like a big winner from the shift to online shopping.

Another option to consider is Dicker Data Ltd (ASX: DDR). The leading computer hardware and software company was founded by David Dicker and Fiona Brown. It has been going from strength to strength in recent years and shows no sign of stopping. Mr Dicker remains the company’s CEO, whereas Brown sits on the board.

A final founder-led company which I would invest in is ResMed Inc. (ASX: RMD). The sleep treatment focused medical device company has been an exceptionally strong performer over the last decade thanks to the growing demand for its products and software.

ResMed founder Peter Farrell is the Chairman of the company and his son, Mick Farrell, has been the Chief Executive Officer since 2013.

More reading

• The 3 ASX tech stocks that helped this fund manager outperform in May
• ASX 200 investor in your 40s? 3 shares to buy now
• These ASX shares just zoomed to multi-year highs
• Buy these ASX growth shares for monster returns
• Real wealth from 3 roaring mid caps in May

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited and Kogan.com ltd. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Zip Co Ltd (ASX: Z1P) share price has returned from its trading halt and rocketed higher this afternoon.

At one stage the payments company’s shares were up as much as 44% to $5.40.

They have since pulled back a touch, but are still up a sizeable 36.5% to $5.12.

Why is the Zip Co share price rocketing higher?

Investors have been fighting to get hold of the shares of the Afterpay Ltd (ASX: APT) rival after it revealed that it has entered into an agreement to acquire the remaining shares in New York-based buy now pay later provider QuadPay.

According to the release, the company has agreed an all-scrip deal. This will see QuadPay stockholders entitled to receive up to a maximum of approximately 119 million Zip shares, which will represent the equivalent of 23.3% of the issued share capital of Zip at completion.

This implies an enterprise value of approximately US$269 million or A$403 million, but will be accretive for Zip on both a total transactions volume (TTV) and revenue basis.

Management notes that the QuadPay acquisition builds on its global strategy and believes it is a compelling investment proposition for shareholders.

This is because QuadPay is one of the leading buy now pay later platforms in the United States – the world’s largest retail market, which is estimated to be worth US$5 trillion per year.

The company also notes that this acquisition will turn Zip into one of the world’s leading global buy now pay later players. 

If the acquisition completes, the company will have operations across the world in five countries (Australia, New Zealand, United States, United Kingdom, and South Africa). It will also have combined annualised TTV of $3 billion, annualised revenue of $250 million, 3.5 million customers, and 26,200 merchants.

Convertibles notes.

In addition to this, the company has entered into an agreement with CVI Investments, Inc., an affiliate of Susquehanna International, to raise up to $200 million by way of the issue of convertible notes and the exercise of warrants.

The convertible notes have an initial conversion price of $5.5328, which is a 47.7% premium to its last close price.

These funds will be used to help accelerate Zip’s growth in the United States and other core markets.

Zip CEO and Co-Founder, Larry Diamond commented: “We are delighted and excited to have the QuadPay team join the Zip family. As a strategic investor in the business, we have spent considerable time with the founders, Adam and Brad, and share a united vision of disrupting the outdated credit card with a digital, and fairer alternative.”

“The US is a critical part of our global strategy and vital as merchants increasingly look for a global payments solution. We have been impressed by QuadPay’s continued innovation. They were first to market with a virtual card solution in the BNPL space and have continued to evolve and innovate their offering. We look forward to this exciting new chapter in the Zip journey,” he added.

Shareholders will be able to vote on the acquisition and convertible notes at an extraordinary general meeting. Should they be given the go-ahead, management expects to complete both in the first quarter of FY 2021.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Why the Zip Co share price rocketed 57% higher in May
• This ASX fintech share is up 489% since March
• Real wealth from 3 roaring mid caps in May
• 4 ASX fintech shares to make you rich

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Is the CSL Limited (ASX: CSL) share price a buy?

In the initial stages of the coronavirus share market sell off the CSL share price remained strong in Australian dollar terms as the US dollar strengthened.

But over the past week the CSL share price has actually fallen by 7% despite the share market strengthening.

CSL was seen as a bastion of safety with its healthcare services. It’s the number one in global plasma therapies and the number two for flu vaccines. Those are essential services. 

That’s why the CSL share price didn’t drop anywhere near as much as shares like National Australia Bank Ltd (ASX: NAB) or Qantas Airways Limited (ASX: QAN).

But we saw the Australian dollar weaken to as low as $0.57 compared to the US dollar during March 2020. The Aussie dollar has since strengthened to $0.68. That makes a big difference when looking at CSL’s earnings which are reported (and a large portion is generated) in US dollars.

CSL recently announced new debt facilities to strengthen its debt profile.

Is it a good time to buy CSL at this share price?

The healthcare giant is aiming for a net profit in FY20 of between US$2.11 billion to US$2.17 billion. This would be another solid result after years of impressive growth already. The company continues to invest heavily into research and development to ensure that it continues to produce the new needed products for people. New treatments could make a big difference to the world. It’s one of many businesses looking to find a coronavirus treatment. 

I think it makes a lot of sense to invest in CSL when the Australian dollar is so strong. It’s certainly not cheap, so I wouldn’t want to buy a lot. But I’d be willing to be some today.

More reading

• Why I would buy these ASX 200 blue chip shares in June
• In your 50s? Here are the 2 best ASX 200 shares to buy now
• Why Austal, CSL, Fortescue, & Star shares are charging higher today
• 5 ASX 200 winners and 3 losers from last week
• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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