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ASX World Cup: Commonwealth Bank of Australia knocked out!

ASX world cup

The surprises continue in the Motley Fool’s ASX World Cup.

Thanks to a heavy loss to Australia and New Zealand Banking Group (ASX: ANZ), a narrow loss to National Australia Bank (ASX: NAB) and a draw with Westpac Banking Corporation (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA) has been sensationally knocked out of the competition!

Much like Spain in the Football World Cup, the heavy favourites to at least make the second round, Commbank just couldn’t compete against its pluckier competitors on the day.

ANZ has topped Group A (Banks) with 9 points thanks to solid exposure to growing markets in Asia and aggressive growth plans, followed by Westpac on 4 points. Commbank managed just 1 point from its three matches, a very disappointing performance, considering its market leading position in Australia and high returns on equity.

Group B (Resources) was an entirely different affair. Heavyweight and a favourite to take out the title, BHP Billiton Limited (ASX: BHP) has come out on top with three wins from its three games, showing its all-round flair, while Rio Tinto Limited (ASX: RIO) is second with 6 points, surprising opponents with its 3.7% dividend yield, strong returns on capital and a low P/E ratio of just 8.5. Newcrest Mining Limited (ASX: NCM) failed to score a single point, dragged down by a disclosure scandal, the falling gold price and lower levels of production.

By the end of this week we’ll have completed the first stage of the tournament, and it’s onto the knockout rounds with 16 teams advancing.

In matchups confirmed so far for next week, ANZ will take on Rio Tinto, while Westpac has a tough opponent in BHP.

Stay tuned as we bring you the final match ups from the group stage, with an exciting few weeks ahead of us.

Who will win the Motley Fool’s coveted ASX World Cup title? The hot money is flowing BHP’s way, but I’m sure there are many surprises still in store for fans.

 

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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