CSL is the first ASX stock to hit $100 since the GFC

CSL CEO Paul Perreault/ Listcorp.

Shares in Australian biotech CSL broke through the $100 level in early trade.

A short time ago, they were trading at $100.090, up 1.28% on yesterday’s close.

The market had been expecting the Commonwealth Bank to be the first to crack the $100 a share barrier earlier this year.

However, the banks have been marked down by investors after a series of flat earnings results. The Commonwealth is trading at $87.94 today.

CSL hit $100 a share once before, in 2007 before its split the stock.

The blood products group is creating the world’s second largest flu vaccine business by buying a subsidiary of Swiss pharmaceutical multinational Novartis for US $275 million (AUD 312 million).

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