Record CBA share price and blockbuster merger push ASX 200 financials sector to the top
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Financial shares led the ASX 200 market sectors last week, with a 1.95% gain over the five trading days.
The S&P/ASX 200 Index (ASX: XJO) closed the week 0.96% higher at 8,515.7 points.
Eight of the 11 market sectors finished the week in the green.
Let’s recap.
CBA shares and Soul Patts merger boost ASX 200 financials
Last week began with news that diversified investment house Washington H. Soul Pattinson and Co Ltd (ASX: SOL) would partner with building products manufacturer and property investment company Brickworks Ltd (ASX: BKW) in a $14 billion merger.
The merger made sense to shareholders given the two companies have held substantial stakes in each other for many decades.
Under the agreement,…
