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    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
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Australia shares close higher but mark fourth weekly fall

12/03/2021 | 01:33am EST

* Banking, energy stocks lift ASX 200

* TPG Telecom slumps after chairman cuts stake

Dec 3 (Reuters) - Australian shares closed higher on Friday, but posted their fourth straight weekly fall as worries over the new Omicron coronavirus variant and its possible economic impact weighed on investor sentiment.

The S&P/ASX 200 index rose 0.22% to 7,241.2, but ended the week 0.5% lower.

Australia reported its first community transmission of the Omicron variant, but authorities held steady on a plan to reopen the economy amid hopes it would prove to be milder than previous strains.

"Markets are more likely to remain jittery until investors obtain more information on how contagious the new COVID-19 variant is and how well existing vaccines can hold up against it," said Kunal Sawhney, chief executive officer of Kalkine Group.

"Investors are also assessing if the ongoing concerns around the new variant will hamper the Santa Claus rally this year."

Energy stocks lifted the local bourse on Friday, climbing 1.69% as oil prices extended gains after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant hits demand.

Sector heavyweight Washington H Soul Pattinson and Company led gains on the sub-index, advancing 3.8% in its best session in more than two months, followed by Oil Search , which rose 3.7%.

Financials added 0.97%, with all the "Big Four" banks advancing between 0.7% and 1.3%. Commonwealth Bank of Australia and National Australia Bank, the country's top two lenders, gained more than 1% each.

Meanwhile, TPG Telecom fell 8.8% in its worst session in more than eight months and was the biggest loser on the local bourse after Chairman David Teoh cut his stake in the telecom giant.

New Zealand's benchmark S&P/NZX 50 index inched 0.05% higher to finish the session at 12,676.5. (Reporting by Riya Sharma in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COMMONWEALTH BANK OF AUSTRALIA -3.45% 93.99 Delayed Quote.-6.85%
NATIONAL AUSTRALIA BANK LIMITED -3.73% 27.08 Delayed Quote.-5.96%
OIL SEARCH -2.42% 4.04 End-of-day quote.0.00%
TPG TELECOM LIMITED -2.31% 5.9 Delayed Quote.0.34%
WASHINGTON H. SOUL PATTINSON AND COMPANY LIMITED -3.93% 26.3 Delayed Quote.-11.16%
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Financials
Sales 2022 17 572 M 12 567 M 12 567 M
Net income 2022 6 397 M 4 575 M 4 575 M
Net Debt 2022 - - -
P/E ratio 2022 14,7x
Yield 2022 4,89%
Capitalization 91 549 M 65 058 M 65 474 M
Capi. / Sales 2022 5,21x
Capi. / Sales 2023 4,99x
Nbr of Employees 32 741
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National Australia Bank Limited Technical Analysis Chart | NAB | AU000000NAB4 | MarketScreener
Technical analysis trends NATIONAL AUSTRALIA BANK LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 28,17 AUD
Average target price 30,36 AUD
Spread / Average Target 7,77%
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Managers and Directors
Ross Maxwell McEwan Group CEO, Managing Director & Director
Gary A. Lennon Group Chief Financial Officer
Philip Wayne Chronican Chairman
Patrick C. Wright Group Executive-Technology & Enterprise Operations
Leslie Durno Matheson Group Chief Operating Officer