Australian Securities Exchange's trading volumes jumped close to record highs in March, but this isn't enough to shift Citi from its neutral view of the stock. Cash equities achieved the second-highest month on record while futures trading reached a new all-time high, according to analyst Nigel Pittaway. Citi lifts its FY26 EPS forecast by 3% in response. Its FY27 and FY28 EPS forecasts each rise by 1%. Citi anticipates solid but moderating volumes ahead. "To us, ASX's core business is performing well with stronger-than-expected top-line growth while the valuation is relatively undemanding (20x price-to-earnings)," Citi says. "However, a new CEO is yet to be appointed while the uncertainty regarding FY27/28 costs and future commitments persist." ASX ended Wednesday at A$53.88. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 08, 2026 18:22 ET (22:22 GMT)
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