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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  National Australia Bank Limited    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
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Australia shares hit 9-month high as Biden transition lifts risk appetite

11/24/2020 | 07:31pm EST

* Australia on track for a third consecutive session of gains

* Financials, energy stocks hit 8-1/2-month high

* Gold stocks at 6-1/2-month low as safe-haven appeal fades

* NZ cenbank to resume mortgage lending curbs next year

Nov 25 (Reuters) - Australian shares touched a near nine-month high on Wednesday, tracking an overnight Wall Street rally, as a formal green light for U.S. President-elect Joe Biden to transition to the White House assuaged political uncertainty.

The Dow Jones Industrial Average closed above the 30,000-point mark for the first time as investors cheered the positive developments in Washington and hopes that a potential vaccine will soon be widely available.

In Australia, states continued easing virus-induced travel curbs, with the country firmly on the path to virtually eliminating the virus as new infections slowed to a trickle.

The S&P/ASX 200 index was up 0.8% at 6,697.1 by 2359 GMT, its highest since Feb. 27, on track for a third straight session of gains.

Energy stocks climbed to an 8-1/2-month peak after oil prices reached their highest since March on vaccine optimism. Woodside Petroleum climbed 4.2%, while Santos jumped 5.2%.

Heavyweight financials gained up to 1.9% to hit an 8-1/2-month high on prospects for a broader economic rebound.

Commonwealth Bank of Australia tacked on 2.6% and National Australia Bank rose 2.5% to lead gains in the sub-index.

Top miners BHP Group and Rio Tinto were the biggest winners in the metals and mining sub-index.

A continued downturn in prices of safe-haven bullion saw gold stocks take a beating and slip to their lowest in 6-1/2 months, with Evolution Mining and AngloGold Ashanti losing the most.

New Zealand's benchmark S&P/NZX 50 index rose 1.1% to 12,696.87, with local shares of Westpac Banking Corp and Australia and New Zealand Banking Group rising 3.4% and 3.3%, respectively.

Meanwhile, the country's central bank said it intended to resume mortgage lending curbs next year amid rising fears of a housing bubble.

(Reporting by Arpit Nayak in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -0.89% 24.46 End-of-day quote.7.75%
BHP GROUP 0.94% 46.3 End-of-day quote.9.12%
COMMONWEALTH BANK OF AUSTRALIA -0.87% 84.37 End-of-day quote.2.75%
DJ INDUSTRIAL 0.83% 31188.38 Delayed Quote.1.06%
EVOLUTION MINING LIMITED 1.53% 4.66 End-of-day quote.-6.61%
NASDAQ 100 2.31% 13296.450006 Delayed Quote.0.84%
NASDAQ COMP. 1.97% 13457.247715 Delayed Quote.0.86%
NATIONAL AUSTRALIA BANK LIMITED -0.46% 23.91 End-of-day quote.5.80%
RIO TINTO GROUP 0.14% 119.8 End-of-day quote.5.24%
S&P 500 1.39% 3851.85 Delayed Quote.2.55%
S&P/ASX 200 0.79% 6823.7 Real-time Quote.2.36%
SANTOS LIMITED 0.82% 7.4 End-of-day quote.18.02%
WESTPAC BANKING CORPORATION -0.09% 21.58 End-of-day quote.11.41%
WOODSIDE PETROLEUM LTD 1.78% 27.4 End-of-day quote.20.49%
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Financials
Sales 2021 17 009 M 13 202 M 13 202 M
Net income 2021 4 804 M 3 729 M 3 729 M
Net Debt 2021 - - -
P/E ratio 2021 16,8x
Yield 2021 4,12%
Capitalization 78 701 M 60 900 M 61 085 M
Capi. / Sales 2021 4,63x
Capi. / Sales 2022 4,57x
Nbr of Employees 31 372
Free-Float 99,7%
Chart NATIONAL AUSTRALIA BANK LIMITED
Duration : Period :
National Australia Bank Limited Technical Analysis Chart | NAB | AU000000NAB4 | MarketScreener
Technical analysis trends NATIONAL AUSTRALIA BANK LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 24,58 AUD
Last Close Price 23,91 AUD
Spread / Highest target 8,74%
Spread / Average Target 2,81%
Spread / Lowest Target -7,99%
EPS Revisions
Managers and Directors
NameTitle
Ross Maxwell McEwan Group CEO, Managing Director & Director
Philip Wayne Chronican Chairman
Leslie Durno Matheson Chief Operating Officer
Gary A. Lennon Group Chief Financial Officer
Patrick C. Wright Chief Technology Officer