At time of writing Westpac shares are logging a modest 0.12% drop following news that it had won the responsible lending case against ASIC. But the small victory — a mere $35 million fine — is hardly a barometer for Westpac’s ability to continue its climb within the increasingly difficult interest rate environment...
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.
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.
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.
The Australian ‘Big Four’ — Australia And New Zealand Banking Group Limited [ASX:ANZ], National Australia Bank Limited [ASX:NAB], Westpac Banking Corporation [ASX:WBC] and Commonwealth Bank of Australia [ASX:CBA] are all seeing declines today. ANZ's Share Price is down 0.95%.
This morning, the ASX market wiped as much as $22 billion off of its value, as nervous traders shied away from global market slumps. Currently, the S&P/ASX200 index is down 1.21% or 74.9 points to 6120.30.
The latest news out of Westpac is that its cash earnings for 1H 2019 will be significantly reduced due to further work on its customer remediation programs.
Westpac banking Corp [ASX:WBC] will ditch its personal financial advice division after being slapped with further regulations and legislation, which has rendered the service unprofitable across all four banks. At the time of writing, Westpac’s share price is trading at $26.20, down 0.53%.
The ANZ share price was the worst hit. At time of writing it is down 2.52%, trading at $27.05. Much of this can be attributed to the appearance of Westpac and CBA before the House of Reps standing committee on economics.