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    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
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Australia shares rise for fourth week as U.S. inflation worries cool

06/11/2021 | 02:44am EDT

* Gold stocks top gainers on ASX 200

* Afterpay closes at over one-month high

* ASX200 marks fourth straight week of gains

June 11 (Reuters) - Australian shares ended at a record high on Friday, supported by tech stocks and gold miners, and notched up a fourth straight weekly gain as investors bet spiking U.S. inflation would be temporary as predicted by the Federal Reserve.

The S&P/ASX 200 reversed losses in early trading to gain 0.1% and close at a record high of 7,312.3, taking cues from global peers. The benchmark added 0.2% for the week.

Gold stocks were the best performers, jumping 3.4% and marking their best session since May 7, as bullion prices edged above $1,900 per ounce.

Economic data from the United States appeared to support the Fed's assertion that the current wave of heightened inflation will be temporary, which benefited benchmark 10-year U.S Treasuries and hurt the dollar.

"I was surprised to see such a big move in the bond market, with yields falling sharply and dragging the dollar down. That was good for gold prices," said Damian Rooney, director of equity sales at Argonaut.

On Australia's gold sub-index, Newcrest Mining gained 3.1% to mark its best session in over a month, while Bellevue Gold added 7.8%.

Technology stocks ended at a five-week high, tracking overnight gains on the tech-heavy Nasdaq.

Afterpay jumped 3.7% to end at more than a month's high, as buy-now-pay-later firms outpaced the benchmark's gains.

However, heavyweight financials lost 0.8%, with all "Big Four" banks closing in the red.

National Australia Bank posted a 3.8% weekly loss, recording its worst week since late October last year, as the lender is under investigation for suspected breaches of anti-money laundering laws.

New Zealand's benchmark S&P/NZX 50 ended 0.3% higher at 12,550.39, with a2 Milk among the top gainer on the bourse.

Casino operator SkyCity Entertainment rose 1.4% as it expects full-year profit to jump as much as 33%. (Reporting by Harish Sridharan in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 3.68% 103.52 End-of-day quote.-12.27%
ASX LIMITED -0.64% 74.02 End-of-day quote.2.81%
BELLEVUE GOLD LIMITED 7.79% 0.83 End-of-day quote.-25.89%
BRITISH POUND / US DOLLAR (GBP/USD) -0.45% 1.41056 Delayed Quote.3.63%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.8222 Delayed Quote.5.28%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.23% 17.24 End-of-day quote.8.86%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.49% 16.56 End-of-day quote.20.09%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.00% 64.225 End-of-day quote.45.31%
EURO / US DOLLAR (EUR/USD) -0.53% 1.2108 Delayed Quote.-0.34%
GOLD 0.00% 1876.6 Delayed Quote.0.02%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.00% 0.013654 Delayed Quote.-0.09%
NASDAQ COMP. 0.35% 14069.423379 Delayed Quote.9.16%
NATIONAL AUSTRALIA BANK LIMITED -0.60% 26.46 End-of-day quote.17.08%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.04% 0.7122 Delayed Quote.0.11%
NEWCREST MINING LIMITED 3.06% 28.33 End-of-day quote.9.89%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 -0.02% 128.475 End-of-day quote.13.82%
S&P GSCI CLASS III MILK (USD) 1.07% 139.7874 Delayed Quote.5.26%
S&P/ASX 200 0.13% 7312.3 Real-time Quote.11.01%
SKYCITY ENTERTAINMENT GROUP LIMITED 1.41% 3.6 End-of-day quote.12.15%
THE A2 MILK COMPANY LIMITED 2.68% 6.13 End-of-day quote.-49.21%
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Financials
Sales 2021 17 094 M 13 173 M 13 173 M
Net income 2021 6 006 M 4 628 M 4 628 M
Net Debt 2021 - - -
P/E ratio 2021 14,9x
Yield 2021 4,55%
Capitalization 87 118 M 67 035 M 67 133 M
Capi. / Sales 2021 5,10x
Capi. / Sales 2022 4,99x
Nbr of Employees 31 696
Free-Float 99,5%
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Technical analysis trends NATIONAL AUSTRALIA BANK LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 27,23 AUD
Last Close Price 26,46 AUD
Spread / Highest target 15,3%
Spread / Average Target 2,91%
Spread / Lowest Target -7,41%
EPS Revisions
Managers and Directors
NameTitle
Ross Maxwell McEwan Group CEO, Managing Director & Director
Gary A. Lennon Group Chief Financial Officer
Philip Wayne Chronican Chairman
Patrick C. Wright Chief Technology Officer
Leslie Durno Matheson Chief Operating Officer