ASX 200 surges again on Wednesday 11 November// Motley Fool Australia

The S&P/ASX 200 Index (ASX: XJO) surged higher on Wednesday, it went up 1.7% today to 6,450 points.

Here are some of the highlights from the ASX today:

Commonwealth Bank of Australia (ASX: CBA)

CBA announced its first quarter trading update today.

The big four ASX bank revealed that it generated $1.9 billion of statutory net profit after tax (NPAT) in the quarter for the three months to 30 September 2020.

It also said that it made $1.8 billion of cash NPAT, which was down 16% on the same period last year.

CBA reported that its income was stable compared to the quarterly average for the second half of FY20. Its core volume growth helped to offset lower net interest margins. Meanwhile, expenses rose by 2% excluding customer remediation…