CBA tops $100b

The Commonwealth Bank's market capitalisation has topped $100 billion for the first time, as the sharemarket closed at a new 19-month high on Thursday. The bank's shares rose by 0.83 per cent to its highest value - $63.24 - leaving it with a market cap of $101.8 billion.


Costello in frame

Former treasurer Peter Costello refused to comment on reports his name is being put forward as a potential independent director of Nine Entertainment if its restructure is approved later. Nine's debt holders are expected to take ownership of the media group under a scheme of arrangement later this month which will see a new board of directors voted in by the new owners.


Pura asset sale

One of the most successful floats of 2012, oil explorer Pura Vida Energy, has raised $US15 million after selling a 52 per cent stake in one of its assets off the coast of Morocco. The transaction saw Pura Vida shares fall almost 16 per cent to 69¢, still well above its 2012 listing price of 20¢.


Miclyn quits Iran

Miclyn Express Offshore, the service provider to the oil and gas sector, has decided to withdraw operations from Iran because of sanctions. Miclyn estimates that about $US5.4 million worth of receivables and deposits could be lost as a result of the decision.

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