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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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Financials push Australian shares to near 9-month high; NZ snaps 11-day rally

11/18/2020 | 01:02am EST

* NZ slips as a2 Milk drags

* Australia shares rise for third straight day

* NAB closes branches nationwide on security threat

Nov 18 (Reuters) - Australian shares hit a near nine-month high on Wednesday, bolstered by the financial sector after the country's central bank governor assured that rising house prices were not a cause for concern, while New Zealand snapped an 11-day winning streak.

Rising for the third straight session, the S&P/ASX 200 index ended 0.5% higher at 6,531.1, its highest closing since Feb. 27.

Reserve Bank of Australia Governor Philip Lowe said he was not worried about rising home prices yet because demand is weaker due to slow population growth this year.

"Some of the dire predictions for the housing market have not come to fruition," said Henry Jennings, a senior analyst and portfolio manager at Marcustoday Financial Newsletter.

"We're seeing good lending numbers from the mortgage brokers as well, which has helped the banks."

The financial sub-index closed up 1.7%, hitting its highest since early March. The 'Big Four' banks rose between 1.2% and 2.2%, despite National Australia Bank closing all its branches across the country due to a "physical security threat".

"At the moment, the banking sector seems to be the one people are playing for," Jennings said.

Other major sub indexes were subdued, with technology and gold stocks closing flat, while miners lost 0.4%.

Energy stocks fell 0.7% after bigger-than-expected build in U.S. crude stocks and weaker U.S. retail sales stoked fears over fuel demand. Shares of Oil Search and Santos were among the biggest drags.

Trading in Crown Resorts was halted, soon before an Australian gambling regulator said it was suspending the licence of the casino giant until completion of an inquiry, delaying its plan to open a A$2.2 billion resort in Sydney next month.

In New Zealand, the benchmark index closed 1.2% lower, snapping an eleven-session rally, dragged down by a2 Milk falling most in over seven weeks on an uncertain revenue forecast.

(Reporting by Arundhati Dutta in Bengaluru; Editing by Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CROWN RESORTS LIMITED -0.88% 10.11 End-of-day quote.4.98%
LONDON BRENT OIL 0.27% 55.04 Delayed Quote.9.17%
NATIONAL AUSTRALIA BANK LIMITED 1.51% 24.14 End-of-day quote.6.81%
OIL SEARCH LIMITED 0.23% 4.41 End-of-day quote.18.87%
S&P/ASX 200 -0.78% 6663 Real-time Quote.1.95%
SANTOS LIMITED -1.07% 7.42 End-of-day quote.18.34%
THE A2 MILK COMPANY LIMITED -1.82% 10.81 End-of-day quote.-10.44%
WTI 0.42% 52.379 Delayed Quote.11.60%
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Financials
Sales 2021 17 006 M 13 063 M 13 063 M
Net income 2021 4 804 M 3 690 M 3 690 M
Net Debt 2021 - - -
P/E ratio 2021 17,0x
Yield 2021 4,05%
Capitalization 77 845 M 60 084 M 59 795 M
Capi. / Sales 2021 4,58x
Capi. / Sales 2022 4,53x
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 24,25 AUD
Last Close Price 24,14 AUD
Spread / Highest target 7,71%
Spread / Average Target 0,45%
Spread / Lowest Target -16,7%
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