CBA breaks $100 billion

CBA’s market value has broken $100 billion mark for the first time, just as sharemarkets around the world jumped following the US deal to avert the brunt of the fiscal cliff.

The bank’s shares yesterday surged 52 cents to a record-breaking $63.24, giving the major a market capitalisation of $100.9 billion – the first time in history that an Australian bank has reached such a high.

CBA remains the second-biggest company in Australia, behind BHP Billiton, which has a market value of $121 billion, and easily trumps its big bank rivals Westpac ($81 billion), ANZ ($68 billion) and National Australia Bank ($59 billion).