|Bid||20.00 x 0|
|Ask||16.95 x 0|
|Day's range||16.38 - 17.22|
|52-week range||13.19 - 30.00|
|Beta (5Y monthly)||0.51|
|PE ratio (TTM)||10.31|
|Earnings date||08 May 2020|
|Forward dividend & yield||1.66 (9.79%)|
|Ex-dividend date||14 Nov 2019|
|1y target est||28.81|
To the annoyance of some shareholders, National Australia Bank (ASX:NAB) shares are down a considerable 34% in the...
SYDNEY/LONDON, March 16 (Reuters) - Only a year after losing their homes to floods in parts of Australia's north eastern coast of Queensland, people are moving into new houses built on or near the same plots. A tradesman who has bought a new home in Townsville after walking away from his water-damaged dwelling 15 kilometres (9.32 miles) away, said the insurance premium had risen 350%, a price he was not willing to pay to protect against another flood. Banks appear to be taking a similar view, with long-term funding still widely available for new and existing housing, while insurers are more picky.
To the annoyance of some shareholders, National Australia Bank (ASX:NAB) shares are down a considerable 31% in the...
(Bloomberg) -- Australian stocks staged a record-breaking intraday rebound in the midst of near universal market gloom, a move that bewildered some traders but nonetheless quickly spread to other riskier assets.In one of the wildest sessions ever for Australia’s nearly $1 trillion market, the benchmark S&P/ASX 200 Index swung from an 8.1% loss to a 4.4% gain -- the biggest intraday move since the gauge was created in 2000. Everything from S&P 500 Index futures to Indian shares and the Chinese yuan soon followed suit, though in some equity markets the rebound wasn’t enough to lift indexes into the green.Traders cited multiple potential reasons for the sudden recovery, from simple bargain hunting to a Reserve Bank of Australia cash injection into the financial system and Prime Minister Scott Morrison’s decision to refrain from closing schools and public transport. Yet the move still shocked some investors and underscored the historic levels of volatility in financial markets as the coronavirus pandemic clouds the outlook for economies around the world.“Much of this remains in peril’s path with no headline to confirm what is going on,” said Stephen Innes, chief Asia market strategist at Axicorp.The S&P/ASX 200 ended the day with its biggest advance since November 2008, though it was still down nearly 11% for the week. It fell into a bear market on Wednesday, 14 trading days after hitting a record high.Read more investor views on the market turbulence.The RBA pumped the most extra cash into funding markets in at least seven years on Friday, after financial institutions’ demand came in at more than double the amount the central bank signaled it would inject. The RBA dealt A$8.8 billion ($5.5 billion) in its open market operations, after saying it intended to offer A$3.7 billion.“It’s the central bank injection that has probably calmed investors nerves over a liquidity crisis, major buyers could be the big pension funds,” said Justin Tang, head of Asian research at United First Partners in Singapore. “Looks like nerves are steadied.”Of the country’s big four banks, shares of National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd. saw the wildest fluctuations, swinging more than 15% through the session. Hearing aid maker Cochlear Ltd. rose as much as 17% after early losses of 5.6%. Viva Energy Ltd. fluctuated between a 13% gain and 11% decline.Most sectors finished up for the day, led by health care and energy shares. Utilities and real estate stocks were the biggest laggards, down more than 2%.Volume on the ASX 200 skyrocketed to levels more than three times its three-month daily average, according to data compiled by Bloomberg.“You’re getting a lot of people potentially trying to think that this is the bottom,” said Jessica Amir, a market analyst at Bell Direct Ltd. “You’re seeing volume increase, people taking advantage of cheaper prices that are comparatively different from where they were about three weeks ago.”(Updates with market close)\--With assistance from Garfield Reynolds and Ishika Mookerjee.To contact the reporters on this story: Jackie Edwards in Sydney at email@example.com;Abhishek Vishnoi in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, Tim Smith, Michael PattersonFor 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.
(Bloomberg) -- The S&P/ASX 200 index erased an early loss and surged out of bear market territory amid hopes for government measures that will offset the economic impact of the spreading coronavirus.Australia’s benchmark index rose 3.1% to close at 5,939.6, its largest gain since Nov. 2016, after having earlier declined as much as 3.9%. The market flirted with a bear run, briefly falling more than 20% from its Feb. 20 record amid growing concerns over the virus and a sharp plunge in oil prices.The S&P/ASX 200 index followed U.S. stock futures higher after President Donald Trump promised “very substantial relief” for the economy as the coronavirus spreads. Contracts on the S&P 500 E-mini futures erased earlier losses as Trump said he’s considering payroll-tax cuts.Australia’s government is also finalizing a fiscal package aimed at keeping companies in business and protecting jobs, as the outbreak hits an economy already reeling from a prolonged drought and a brutal summer of wildfires.“Australia is on the front foot with an imminent announcement of sensible pre-budget stimulus,” said AMP Capital Investors Ltd. portfolio manager Dermot Ryan. “It’s always better to move early and keep economic momentum.”Expect erratic swings in the market amid heightened volatility and lower liquidity, said Eleanor Creagh, a strategist at Saxo Capital Markets.“Bear markets witness some of the fiercest upside rallies,” she said. “To have real confidence in buying into any relief rally, volatility needs to reset meaningfully lower -- that sentiment is flowing through to the Aussie market.”A price war for oil sent energy stocks tumbling on Monday, pushing the S&P/ASX 200 to its biggest one-day retreat since 2008. Energy shares were among the biggest gainers Tuesday, helping to offset sharp declines on Monday. Viva Energy Group Ltd. was the top performer on the benchmark with a 14% jump, while Cooper Energy Ltd. closed 12% higher.The nation’s big-four banks also soared on Tuesday. Westpac Banking Corp., National Australia Bank Ltd., Australia & New Zealand Banking Group Ltd. and Commonwealth Bank of Australia all posted their biggest advances since Prime Minister Scott Morrison’s shock election win last year.(Updates with charts, market close)To contact the reporter on this story: Jackie Edwards in Sydney at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, Tim Smith, Kurt SchusslerFor 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.
(Bloomberg) -- Australia’s economy will record its first recession since 1991 as the hit from China’s virus-induced slowdown is amplified by slumping confidence and domestic disruptions from the outbreak intensifying Down Under, according to Bloomberg Economics’s James McIntyre.Gross domestic product will fall 0.4 percentage point in the first three months of the year and 0.3 percentage point in the second quarter, ending a 28-1/2-year stretch of economic growth, he said in a report Monday.“Isolations and domestic disruptions to contain the spread of the virus will have a mounting economic impact, which is likely to result in a further GDP contraction in 2Q and potentially beyond,” McIntyre said. “Stimulus, both fiscal and monetary, will help to reduce the damage, but is unlikely to be enough to offset the impacts.”GDP will expand by just 0.4% in 2020, he forecasts, some 1.5 percentage points below his pre-coronavirus estimate.The Reserve Bank cut interest rates last week and money markets are pricing in a further reduction in April, which would bring it to the estimated lower bound of 0.25% and open the door to unconventional policy. The government is finalizing a fiscal “boost” that could amount to A$10 billion ($6.6 billion) to support firms struggling with cash flow and help them keep on employees.McIntyre predicts large budget deficits ahead as the automatic stabilizers -- increased welfare payments and reduced tax collection -- begin to take hold. That’s on top of the fiscal stimulus needed to boost demand and confidence.Alan Oster, chief economist at National Australia Bank Ltd., expects the RBA will deploy unconventional policy as early as May, after reducing the cash rate to its estimated lower bound of 0.25% in April.He sees the preferred option as yield-curve control -- setting a target level for government bond yields at a specific duration -- with the aim of flattening the yield curve and lowering the cost of debt funding.Panic SellingAn all-out price war between the world’s biggest oil producers is adding to the prospect of a recession as the coronavirus wreaks havoc across the world. Panic reigned in currency markets Monday as orders from traders and algorithmic machines snowballed.That saw the Australian dollar plunge almost 5% in less than 20 minutes, the biggest one-day decline since 2008. Australia’s benchmark S&P/ASX 200 stock index slumped 7.3%.The Treasury and RBA estimate the impact on tourism and education from China’s shutdown and other virus fallout will cut 0.5 percentage point from GDP in the first quarter. That doesn’t include supply chain disruptions and is in addition to a 0.2 point cut from wildfires over summer.Bill Evans, chief economist at Westpac Banking Corp., revised his economic growth forecasts Monday and predicts contractions in the first and second quarters of 0.3% respectively, before a sharp rebound in the second half. McIntyre said the comparison with the 2003 SARS epidemic is problematic because of the massive increase of China’s importance to both the Australian and global economies. He notes that in the Australian Dollar Trade-Weighted Index of the exchange rate, the weighting of the renminbi rose to 30%, higher than any other currency in the 36-year history of the gauge.The channels through which the reduction in domestic activity transmits during a pandemic were laid out in a 2006 Treasury paper whose author is Steven Kennedy, the current secretary to the Australian Treasury. That analysis saw the economy contracting 5% in the first year.Transmission of the virus in Australia is now occurring, meaning disruptions and shutdowns of aged-care facilities, child-care centers and schools. Health authorities anticipate several months of disruptions from the virus.The economy will bounce back, McIntyre said, noting that fourth-quarter GDP released last week showed several segments turning around, including housing and mining investment. China is also set to stimulate its economy, which traditionally benefits Australia.Property prices Down Under have surged since late last year when the RBA resumed easing.“How Australia’s housing market weathers the virus outbreak will be a key area of interest given the earlier downturn in construction activity,” he said. “Australia’s resources sector also stands well placed to benefit from a resumption of activity in China’s construction sector and stimulus measures.”(Updates with Westpac’s Evans revising growth forecast in 12th paragraph.)To contact the reporter on this story: Michael Heath in Sydney at firstname.lastname@example.orgTo contact the editors responsible for this story: Paul Jackson at email@example.com, Alexandra Veroude, Victoria BatchelorFor 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.
Could National Australia Bank Limited (ASX:NAB) be an attractive dividend share to own for the long haul? Investors...
The move by Australia's No. 3 lender follows similar decisions by other financial firms to create new hubs in the European Union due to Brexit. "Our current operating model creates inconsistencies for clients who operate across European jurisdictions as we don't have free access across the continent," said a source familiar with NAB's plans. It would be NAB's first base in continental Europe.
New Zealand's central bank said on Tuesday it was stepping up monitoring of National Australia Bank Ltd (NAB) subsidiary Bank of New Zealand (BNZ) [BNZL.UL] after identifying errors in the lender's risk capital calculation process. The Reserve Bank of New Zealand (RBNZ), which supervises the banking sector, said BNZ had made three capital calculation errors that resulted in misreported risk-weighted assets over a number of years. "It is now required to increase the risk weight floor of its operational risk capital model from $350 million to $600 million capital," the RBNZ said in a statement.
It looks like National Australia Bank Limited (ASX:NAB) is about to go ex-dividend in the next 4 days. Investors can...
Melbourne, Australia, Nov 1, 2019 - (ABN Newswire) - iSignthis Ltd (ASX:ISX) (HAM:TA8) is pleased to announce that it has appointed Elizabeth Warrell, its Group Chief Financial Officer, as Joint Company ...
Royal Bank of Scotland highlighted the challenges facing its new chief executive Alison Rose on Thursday as a weak performance at its investment bank NatWest Markets and yet another mis-selling charge tipped it into a third-quarter loss. Shares in RBS were down 2.4% at 0820 GMT after the state-backed bank reported an 8 million pound pre-tax loss in the three months to end-September, compared to a 961 million pound profit for the same period last year. Rose is due to head a new-look management team from next month at RBS, which made a fresh 900 million pound ($1.16 billion) provision to compensate customers who were mis-sold payment protection insurance (PPI) on loans and credit cards.
For many, the main point of investing is to generate higher returns than the overall market. But the main game is to...
Royal Bank of Scotland named Alison Rose as its new chief executive on Friday, becoming the first major British lender to appoint a woman to its top job. Rose, who was widely tipped to get the role at the state-backed lender, will succeed outgoing CEO Ross McEwan on November 1. Rose has worked at the bank for 27 years and takes on the role at a pivotal time for the lender, as British banks prepare for the economic fallout if Britain leaves the European Union without a deal next month.
If you want to know who really controls National Australia Bank Limited (ASX:NAB), then you'll have to look at the...
Melbourne, Australia, Aug 28, 2019 - (ABN Newswire) - Australian Securities and Frankfurt Stock Exchange cross listed iSignthis Ltd (ASX:ISX) (HAM:TA8) is pleased to provide the following update for the ...