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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Australia and New Zealand Banking Group Limited    ANZ   AU000000ANZ3

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

(ANZ)
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Australian shares inch lower on virus, U.S. stimulus worries

10/27/2020 | 07:57pm EST

* Afterpay jumps nearly 5% on strong Q1 results

* ANZ sees $376 million hit to H2 earnings

* Financial index hits over two-week low

Oct 28 (Reuters) - Australian shares edged lower on Wednesday due to waning prospects of a U.S. stimulus deal and rising global cases of the novel coronavirus, although gains in local healthcare and tech stocks limited the benchmark's losses.

The S&P/ASX 200 index dipped 0.1% to 6,047.6 by 0017 GMT, weighed down by financials and energy sub-indexes. The benchmark lost 1.7% on Tuesday.

Overnight, Wall Street closed lower after U.S. President Donald Trump acknowledged the much-needed COVID-19 stimulus, the cause of intense market volatility these past few weeks, would likely come after the Nov. 3 election,

Denting sentiment further, global cases of COVID-19 crossed 43.61 million, with the death toll at 1,160,278, a Reuters tally showed. In the United States, the disease has killed more than 225,000 and infected more than 8.7 million people.

Australia's heavyweight financial sub-index index fell 1% to lead losses and hit a two-week low. Australia and New Zealand Banking Group's shares were the biggest drag.

Shares of the country's third largest lender slid 2.7% on revealing a $376 million hit to second-half earnings.

The other three of the "Big Four" banks traded 1.4% to 1.7% lower.

The ASX 200 Energy index fell 1.5%. Electricity retailer Origin Energy Ltd led the decline with its 2.6% fall, and fuel refiner Ampol Ltd dropped 2.3%.

The healthcare and tech indexes firmed 1.2% and 2.2%, respectively, to counter some of the losses on the benchmark.

Shares of medical device maker Resmed Inc jumped 4.3% to power healthcare stocks a day before the U.S.-based company's quarterly results where it's expected to record a jump in revenue.

Meanwhile, buy-now-pay-later favourite Afterpay Ltd's stellar first-quarter results boosted its stock price by nearly 5%.

New Zealand's benchmark gained 0.4% or 57.9 points to 12,309.8.

Gains were driven by healthcare firms Fisher and Paykel Healthcare Corp Ltd and Oceania Healthcare Ltd , advancing 4.6% and 1.4%, respectively. (Reporting by Anushka Trivedi in Bengaluru; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 0.26% 98.56 End-of-day quote.236.61%
AMPOL LIMITED -0.58% 30.68 End-of-day quote.-9.63%
ASX LIMITED 0.41% 77.52 End-of-day quote.-1.14%
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 0.66% 23.03 End-of-day quote.-6.50%
FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED -1.58% 34.95 End-of-day quote.57.43%
OCEANIA HEALTHCARE LIMITED 0.00% 1.3 End-of-day quote.-1.52%
ORIGIN ENERGY LIMITED -1.74% 5.09 End-of-day quote.-39.76%
S&P/ASX 200 0.03% 6590.2 Real-time Quote.-1.43%
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Financials
Sales 2021 17 632 M 13 038 M 13 038 M
Net income 2021 4 727 M 3 496 M 3 496 M
Net Debt 2021 - - -
P/E ratio 2021 14,2x
Yield 2021 4,19%
Capitalization 65 300 M 48 206 M 48 288 M
Capi. / Sales 2021 3,70x
Capi. / Sales 2022 3,67x
Nbr of Employees 37 506
Free-Float 99,7%
Chart AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
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Australia and New Zealand Banking Group Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 23,17 AUD
Last Close Price 23,03 AUD
Spread / Highest target 17,2%
Spread / Average Target 0,59%
Spread / Lowest Target -34,2%
EPS Revisions
Managers
NameTitle
Shayne Cary Elliott Chief Executive Officer & Executive Director
Paul Dominic O'Sullivan Chairman
Michelle Jablko Chief Financial Officer
Gerard Florian Group Executive-Technology
Paula Jane Dwyer Independent Non-Executive Director