NAOS Ex-50 Opportunities Co. Ltd. (AU:NAC) has released an update.
The third quarter of FY24 witnessed solid performance in the Australian stock market, with the S&P/ASX-100 and Small Ordinaries indices recording gains of 5.17% and 7.55% respectively. Despite an expected drop in earnings per share, Commonwealth Bank of Australia (CBA) saw a substantial total return of +24.55%, highlighting a market trend where high valuation multiples are being given to stocks with strong liquidity or technology sector exposure. Interestingly, this comes at a time when the big-4 banks are considered expensive based on their price to earnings ratio and offer less attractive dividend yields compared to historical standards and term deposit rates.
For further insights into AU:NAC stock, check out TipRanks’ Stock Analysis page.
