0LVV.L - Westpac Banking Corporation

LSE - LSE Delayed price. Currency in USD
10.11
-11.50 (-53.22%)
At close: 5:41PM BST
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Previous close17.24
Open10.11
Bid0.00 x N/A
Ask0.00 x N/A
Day's range10.11 - 10.11
52-week range10.11 - 10.11
Volume106,000
Avg. volumeN/A
Market capN/A
Beta (5Y monthly)0.85
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Thai Baht is Asia’s Top Outperformer on Tourism Rebound Bet
    Bloomberg

    Thai Baht is Asia’s Top Outperformer on Tourism Rebound Bet

    (Bloomberg) -- After lagging other Asian currencies for most of the year, Thailand’s baht has staged a sharp rebound to outperform its peers.The baht has rallied almost 1.5% in May after dropping over 7% in the first four months of 2020. The catalyst? Traders are betting Thailand’s tourism-dependent economy will recover swiftly from the virus-induced slump as economies begin to reopen.“The sooner availability of a vaccine will mean a quicker recovery in industries such as retail and tourism, and as such currencies relying more on these sectors may respond more,” said Frances Cheung, Singapore-based head of Asia macro strategy at Westpac Banking Corp.Yanxi Tan, a foreign exchange strategist at Malayan Banking Bhd. expects the baht to rise to 31.7 per dollar by year-end as the pandemic dissipates. The currency rallied as much as 0.5% to 31.872 per dollar Tuesday, with sentiment bolstered by signs of progress in developing a vaccine against the virus.Still, the baht’s rebound may be curtailed after the government warned the economy could contract as much as 6% this year due to the outbreak. The central bank is expected to lower the policy rate by 25 basis points to 0.50% at a review Wednesday, according to a Bloomberg survey.Analysts say a relaxation of curbs will boost confidence. Thailand has allowed shopping malls to resume business as part of a phased rollback of its lockdown, even as it remains in a state of emergency through May.“Thailand has done well to contain the coronavirus outbreak, with the country gradually reopening businesses and easing restrictions,” says Chang Wei Liang, a macro strategist at DBS Bank Ltd. in Singapore. “This has given investors confidence that tourism could recover over time, in turn supporting the baht.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters - UK Focus

    FOCUS-British backing gives some RBS investors comfort in crisis

    Best known as Britain's biggest financial crisis failure, some investors and analysts view majority state-owned Royal Bank of Scotland as the lender likely to emerge strongest from the coronavirus downturn. RBS had built the largest capital surplus of any major British bank before the pandemic struck, some 14 billion pounds ($17 billion) above the regulatory minimum, and had hoped to use much of this to buy back the government's 62% stake. Now investors are betting this capital cushion, which will help it absorb loan losses resulting from the economic crunch, will help RBS gain greater market share and potentially restore a dividend ahead of rivals.

  • Reuters - UK Focus

    NatWest appoints Westpac executive as retail banking boss

    British state-backed bank NatWest has appointed Westpac executive David Lindberg as chief executive of its retail banking business. Lindberg will be tasked with steering one of Britain's largest retail banks through the coronavirus crisis, at a time when millions of customers have been offered relief by lenders on loan repayments to help them cope financially. NatWest's current personal banking CEO, Les Matheson, is stepping down and the bank said he will return to Australia where he has strong family ties.

  • Trade Alert: The Independent Chairman of the Board Of Westpac Banking Corporation (ASX:WBC), John McFarlane, Has Just Spent AU$160k Buying A Few More Shares
    Simply Wall St.

    Trade Alert: The Independent Chairman of the Board Of Westpac Banking Corporation (ASX:WBC), John McFarlane, Has Just Spent AU$160k Buying A Few More Shares

    Investors who take an interest in Westpac Banking Corporation (ASX:WBC) should definitely note that the Independent...

  • Australia’s Trade Surplus Swells to Record as Export Prices Soar
    Bloomberg

    Australia’s Trade Surplus Swells to Record as Export Prices Soar

    (Bloomberg) -- Australia’s trade windfall increased to a new high as prices and volumes of commodities like iron ore surged, boosting the economy as it headed into the late-March coronavirus lockdown.The surplus spiked to a record A$10.6 billion ($6.8 billion) in March, exceeding economists’ estimates of A$6 billion and up from a downwardly revised A$3.9 billion in February, Australian Bureau of Statistics data showed Thursday. Overseas shipments advanced 15%, the most since September 2000.“China’s reopening after the February lock-down provided a boost to the trade in goods, exports (+21.6%) and imports (+1.3%),” said Andrew Hanlan, a senior economist at Westpac Banking Corp. “Key to this was the rebound in iron ore production and export shipments post Cyclone Damien. The lift in the iron ore price in Australian dollar terms was also a plus.”Hanlan said in a research note that services trade plunged because of the reduction in international travel.The result is a welcome surprise for an economy shedding jobs and awaiting the economic hit from the coronavirus. Australia has kept shipping commodities to China throughout March and April, which will prevent a complete collapse; still, the central bank estimates that the economy will contract 10% in the first half.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Coal Loses Backing From Another Big Bank
    Bloomberg

    Coal Loses Backing From Another Big Bank

    (Bloomberg) -- Financing a thermal coal project in Australia just got a little bit harder after Westpac Banking Corp. said it would exit the sector by 2030, leaving Australia and New Zealand Banking Group Ltd. as the last of the country’s big four yet to commit to dropping the most polluting fuel.Australia is the world’s second-biggest thermal coal exporter, generating A$26 billion ($16.6 billion) in export revenue in the year to end-June 2019, but it has become increasingly difficult to bring new resources on stream as financial institutions across the globe bow to pressure from shareholders and climate groups to avoid coal investments.Westpac has already reduced its total coal exposure to A$700 million and said in its climate action plan on Monday that it would not establish relationships with any new thermal customers. The bank would continue to finance metallurgical coal, while backing initiatives that reduce the steel industry’s dependence on the fuel.“We continue to evolve our sustainable finance approach, recognizing the role financial institutions can play in facilitating the transition to a low carbon economy,” Westpac said in the report. It has also set a target of A$3.5 billion in new lending to climate change solutions over the next three years.Commonwealth Bank of Australia and National Australia Bank Ltd. plan to be out of thermal coal by 2030 and 2035 respectively, while ANZ has said that it expects its involvement to decline, but has not set an official exit date. Japanese banks, among the world’s biggest lenders to coal power developers, are also starting to pare back their exposure, albeit at a slower pace, leaving the industry to turn elsewhere in search of funding.Read More: Death of Coal Financing Is Exaggerated as China Steps Up “ANZ has made it unequivocally clear that the bank’s thermal coal mining exposure has, and will continue to, significantly reduce over time,” a spokesman for the bank said. “The nature of these businesses mean an orderly transition may not always be a straight line.”India’s Adani Group is self-financing its controversial Carmichael coal project in Queensland after failing to secure outside backing. The thermal coal development, which would open up a new mining region, has become a lightning rod for the climate protest movement in Australia.“Coming out of the Covid-19 crisis, Australian financial institutions should be looking to ensure their financing and investment portfolios address the compatible priorities of rebuilding our economy while mitigating climate change and preventing biodiversity loss,” said May House, economic analyst at the Australian Conservation Foundation.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Australia’s Banking Payout Party Comes to an End
    Bloomberg

    Australia’s Banking Payout Party Comes to an End

    (Bloomberg Opinion) -- While their peers in other countries weathered a season in hell after the 2008 financial crisis, Australian banks partied.Spared the recession that devastated lenders elsewhere, valuations soared to as much as three times book value — extraordinary levels when most banks in developed countries were trading at a discount to book.At one point in 2011, all of the country’s big four banks (Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd.) were worth more than Bank of America Corp. in terms of market capitalization. Now, the U.S. lender is worth more than all four — put together.The road to the dismal present has been paved with money-laundering scandals, government inquiries, super-taxes, a housing market downturn and of course the coronavirus, but it’s another factor that has been most crucial: dividends.Bank valuations, after all, aren’t a disinterested vote on the credit quality of a company. Instead, they’re shareholders’ best guess of the current value of future payouts, adjusted for the risk that the share price itself may rise or fall.That’s been particularly important in Australia, thanks to the outsize influence of individuals managing their own retirement savings through so-called self-managed superannuation. In most of the world, fund managers focused on capital growth dominate the stock market, to the extent that many tech companies treat paying cash back to shareholders as a failure of imagination. In Australia, the retirement savers who make up a fifth of the stock market prize a steady and stable income, so generous dividend-payers like the country’s banks have consequently done well.Even when its valuation peaked at three times book in 2015, Commonwealth Bank, the biggest of the four, was still paying out dividends equivalent to more than 6% of its share price. Australian banks were offering all the income security of owning a bond, but with equity-style returns. There was just one problem. Much though they may have behaved like bonds to their investors, Australian bank shares were equity all along — and with the party finally ending, it’s shareholders who are ultimately taking the hit. On Monday, Westpac joined ANZ in deferring its decision about whether to make a payout this year. NAB went one step further last week, cutting its payout by about two-thirds and tapping shareholders for cash by selling A$3.5 billion ($2.2 billion) in new stock.It’s a sign of how crucial payouts have become to Australian bank shareholders that even with an unemployment rate tipped to hit 10% this year, both Westpac and ANZ are presenting their moves as delayed decisions rather than outright cancellations. Even in a crisis, giving up the gospel of dividends risks breaking the implicit contract between management and shareholders that’s supported valuations (and paid for executives’ Maseratis) for a generation.The trouble is, shareholders are already voting with their feet. Price-book valuations have slumped to positively European levels; only Commonwealth Bank is now valued at a premium to its net assets. Unlike other countries, which have spent more than a decade deleveraging, Australian household debt was at record levels relative to income just before the coronavirus struck.As rising unemployment and falling property prices eat into borrowers’ ability to repay, investors are (rightly) making the assessment that the first call on banks’ cash for the foreseeable future is likely to be funding defaulted loans. Next will be fines, like the A$1.06 billion Westpac set aside Monday for dealing with a money-laundering case.The silver lining is that those plunging share prices are making dividends, in isolation, look more attractive than ever. If the coronavirus downturn proves less drastic than feared and Westpac ends up paying out full-year cash in line with last year’s, it would be yielding around 11% at current share prices — not bad at a time when its best one-year term deposit account is paying 1.2%.It’s a mark of how bad things have gotten for Australian banks that even the perennial promise of payouts isn’t enough to tempt shareholders back this time.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • New Zealand Bond Yields Race Toward Zero as Rate Cut Bets Mount
    Bloomberg

    New Zealand Bond Yields Race Toward Zero as Rate Cut Bets Mount

    (Bloomberg) -- New Zealand bonds may soon join the world of zero-yielding debt as traders ramp up bets that the central bank will keep easing to counter the coronavirus-driven slowdown.Two-year yields slid to a record low of 0.10% on Tuesday after Westpac Banking Corp. economist Dominick Stephens said the policy rate could turnnegative this year. Speculation that the central bank may boost its quantitative-easing program next month is also turbo-charging the rally.The bets reflect expectations that the Reserve Bank of New Zealand will widen its array of unconventional monetary policy tools to counter the economic slowdown fueled by the coronavirus pandemic. Governor Adrian Orr said last week he hasn’t ruled out negative interest rates although they aren’t the best tool for now.“Governor Orr is clearly open to the idea of moving the OCR below zero in New Zealand,” Sean Keane, managing director of Triple T Consulting Ltd., wrote in a note. “The market itself will start pricing for a negative rate scenario by the fourth quarter if the coronavirus crisis lingers.”Two-year bond yields have plunged more than 1 percentage point this year after the RBNZ joined peers from Europe to Japan in easing policy. It cut the benchmark rate by 75 basis points to 0.25% in March and swaps show markets are expecting rates to fall to around zero by the first quarter of 2021.The central bank’s debt purchases are adding fuel to the bond rally. It bought NZ$6.75 billion ($4 billion) of government bonds in the first four weeks of its QE program and is set to exhaust more than a quarter of its buying plan by the end of this week, boosting expectations it will announce a significant increase at its May 13 policy meeting.“We expect the RBNZ will double its QE program to NZ$60 billion,” Westpac’s Stephens wrote in the note.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • How Does Westpac Banking's (ASX:WBC) P/E Compare To Its Industry, After The Share Price Drop?
    Simply Wall St.

    How Does Westpac Banking's (ASX:WBC) P/E Compare To Its Industry, After The Share Price Drop?

    To the annoyance of some shareholders, Westpac Banking (ASX:WBC) shares are down a considerable 30% in the last month...

  • Is the Westpac Banking share price cheap?
    Stockopedia

    Is the Westpac Banking share price cheap?

    Westpac Banking (ASX:WBC) is a large cap thatprovides a range of banking and financial services across consumer, business and institutional banking and wealth8230;

  • Business Wire

    WBK FINAL DEADLINE TODAY: ROSEN, A TOP RANKED LAW FIRM, Reminds Westpac Banking Corporation Investors of Important March 30 Deadline in First Filed Securities Class Action – WBK

    Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Westpac Banking Corporation (NYSE: WBK) between November 11, 2015 and November 19, 2019, inclusive (the "Class Period") of the important March 30, 2020 lead plaintiff deadline in the securities class action first commenced by the firm. The lawsuit seeks to recover damages for Westpac investors under the federal securities laws.

  • Business Wire

    WBK DEADLINE - Bronstein, Gewirtz & Grossman, LLC Reminds Westpac Banking Corporation Shareholders With Losses Exceeding $100K of Class Action and Lead Plaintiff Deadline: March 30, 2020

    Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Westpac Banking Corporation ("Westpac" or the Company") (NYSE: WBK) and certain of its officers, on behalf of shareholders who purchased Westpac securities between November 11, 2015 and November 19, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/wbk.

  • Business Wire

    ROSEN, A TOP RANKED LAW FIRM, Reminds Westpac Banking Corporation Investors of Important Deadline in Securities Class Action – WBK

    Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Westpac Banking Corporation (NYSE: WBK) between November 11, 2015 and November 19, 2019, inclusive (the "Class Period") of the important March 30, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for Westpac investors under the federal securities laws.

  • Business Wire

    WBK INVESTOR ALERT - Bronstein, Gewirtz & Grossman, LLC Reminds Westpac Banking Corporation Shareholders With Losses Exceeding $100K of Class Action and Lead Plaintiff Deadline: March 30, 2020

    Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Westpac Banking Corporation ("Westpac" or the Company") (NYSE: WBK) and certain of its officers, on behalf of shareholders who purchased Westpac securities between November 11, 2015 and November 19, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/wbk.

  • Business Wire

    Shareholder Alert: Robbins LLP Announces It Is Investigating Westpac Banking Corp. (WBK)

    Shareholder rights law firm Robbins LLP announces that it is investigating Westpac Banking Corp. (NYSE: WBK) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. Westpac provides various banking and financial services in Australia, and internationally.

  • Business Wire

    WBK LOSS NOTICE: ROSEN, A GLOBALLY RECOGNIZED FIRM, Reminds Westpac Banking Corporation Investors of Important March 30th Deadline in Securities Class Action – WBK

    Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Westpac Banking Corporation (NYSE: WBK) between November 11, 2015 and November 19, 2019, inclusive (the "Class Period") of the important March 30, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for Westpac investors under the federal securities laws.

  • What Is Westpac Banking's (ASX:WBC) P/E Ratio After Its Share Price Tanked?
    Simply Wall St.

    What Is Westpac Banking's (ASX:WBC) P/E Ratio After Its Share Price Tanked?

    Unfortunately for some shareholders, the Westpac Banking (ASX:WBC) share price has dived 38% in the last thirty days...

  • Business Wire

    ROSEN, NATIONAL TRIAL COUNSEL, Reminds Westpac Banking Corporation Investors of Important Deadline in Securities Class Action First Filed by the Firm – WBK

    Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Westpac Banking Corporation (NYSE: WBK) between November 11, 2015 and November 19, 2019, inclusive (the "Class Period") of the important March 30, 2020 lead plaintiff deadline in the securities class action commenced by the firm. The lawsuit seeks to recover damages for Westpac investors under the federal securities laws.

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