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    WBC   AU000000WBC1

WESTPAC BANKING CORPORATION

(WBC)
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Australia shares close week at record high on healthcare boost

08/13/2021 | 02:55am EST

(Updates to close)

* Healthcare stocks rise on stronger U.S. dollar

* Technology stocks track Wall Street higher

* BHP, Westpac, CSL to report earnings next week

Aug 13 (Reuters) - Australian shares closed the week at a record high on Friday, lifted by healthcare stocks, while investors looked ahead to corporate earnings from heavyweight names due next week.

The S&P/ASX 200 index ended 0.5% higher at 7,628.9, scaling a record close for the fourth time this week.

Shares of export-reliant healthcare companies climbed 2.1% and were the biggest gainers, helped by a stronger U.S. dollar.

CSL Ltd was the biggest individual boost, rising 2.4% in its best day in a week.

Technology stocks rose 0.8% after mega-cap tech stocks drove Wall Street higher overnight.

Software firms Altium Ltd and Codan Ltd were among the top gainers on the sub-index, climbing 0.9% and 1.9%, respectively.

Financials added 3% this week, with the country's top three insurers soaring after their earnings highlighted improving conditions.

Commonwealth Bank, however, snapped its strong recent run-up after analysts poured through the annual results of the country's biggest lender to flag concerns around its revenue growth going forward.

The earnings season is set to kick into full gear next week, with global miner BHP Group, major lender Westpac and biotech company CSL Ltd set to post their results.

Major miners fell 0.1% on Friday after iron ore futures skidded overnight on concerns over steel output controls in China and signs of an economic slowdown in the world's top metal consumer.

BHP and Fortescue Metals Group led the losses and were down 0.3% and 0.8%, respectively.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.64% to 12,762.7. (Reporting by Indranil Sarkar in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ALTIUM LIMITED -1.99% 40.84 End-of-day quote.20.15%
BHP GROUP -1.53% 38.03 End-of-day quote.-10.37%
CODAN LIMITED -2.44% 9.61 End-of-day quote.-14.04%
COMMONWEALTH BANK OF AUSTRALIA -1.00% 94.81 End-of-day quote.15.47%
CSL LIMITED -1.77% 312 End-of-day quote.10.18%
FORTESCUE METALS GROUP LIMITED -3.86% 17.19 End-of-day quote.-26.63%
S&P 500 -2.27% 4594.62 Delayed Quote.22.33%
S&P/ASX 200 -1.73% 7279.3 Real-time Quote.10.51%
WESTPAC BANKING CORPORATION -2.54% 21.08 End-of-day quote.8.83%
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Analyst Recommendations on WESTPAC BANKING CORPORATION
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Financials
Sales 2022 19 677 M 14 008 M 14 008 M
Net income 2022 5 356 M 3 813 M 3 813 M
Net Debt 2022 - - -
P/E ratio 2022 14,3x
Yield 2022 5,82%
Capitalization 77 242 M 54 980 M 54 989 M
Capi. / Sales 2022 3,93x
Capi. / Sales 2023 3,81x
Nbr of Employees 40 143
Free-Float 99,5%
Chart WESTPAC BANKING CORPORATION
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Westpac Banking Corporation Technical Analysis Chart | WBC | AU000000WBC1 | MarketScreener
Technical analysis trends WESTPAC BANKING CORPORATION
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Last Close Price 21,08 AUD
Average target price 25,61 AUD
Spread / Average Target 21,5%
EPS Revisions
Managers and Directors
Peter Francis King Chief Executive Officer, MD & Director
Michael Rowland Chief Financial Officer
John McFarlane Chairman
Scott Collary Chief Operating Officer
Leslie Wilson Vance Group Executive-Financial Crime & Compliance
Sector and Competitors