Westpac is now outperforming the financial sector as a whole, up more than 23% since December. Today, we make the long-term case for avoiding/selling WBC shares based on demographics and technology.
The big four bank shares are down today. At time of writing, National Australia Bank Ltd [ASX:NAB] is down 1.77%, Australia New Zealand Banking Group [ASX:ANZ] dropped 1.97%, Westpac Banking Corp [ASX:WBC] saw share price decrease 1.33% and Commonwealth Bank of Australia [ASX:CBA] is down 1.05%...
All Big Four banks were down on the ASX today. Commonwealth Bank of Australia [ASX:CBA] fell 0.13% at $81.81, Australian and New Zealand Banking Group [ASX:ANZ] fell 0.93% at $27.75 today, Westpac Banking Corp [ASX:WBC] has also lost ground, down 0.17% at $28.75, and National Australian Bank Ltd. [ASX:NAB] fell 0.45% to $28.51, having been down as $27.83.
Australia and New Zealand Banking Group [ASX:ANZ] shares were up by 1.15% early this morning. With the bulk of the royal commission done and dusted, it seems that the market is finally offering the big four some respite...
While all four of the banks’ shares have moved in relative unison since the beginning of the year, ANZ shares seem the more resilient of the bunch. Certainly one of the big factors playing on investors’ minds at the moment is Australia’s all-time low interest rates and the squeeze this is having on the banks’ margins.
The Commonwealth Bank of Australia [ASX:CBA] share price has outperformed the other Big Four bank stocks in a 12-month period. We look at its prospects going forward.
Today, Australia and New Zealand Banking Group Ltd [ASX:ANZ] appointed Antonia Watson as acting CEO of ANZ, following the departure of David Hisco.ANZ’s share price weakened at today’s open on the news.But at the time of writing, shares were trading slightly higher at $28.28, up 0.21%.
While Macquarie and ANZ are trading ex-dividend, the share price of CBA was down on the revelation that its third quarter profit fell 28% to $1.7 billion in the three months to March.
As we head into the last week of the Australian federal election, it seems the ASX is following the lead of many Australians who are waiting to see how it all turns out.
The latest news out of the company is its half-year results release, as well as the details of its upcoming dividend. The Westpac share price had recovered to mid-November levels over the past two weeks, but has been on a losing streak in the last three sessions.