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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  National Australia Bank Limited    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
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Australia shares wobble ahead of cenbank rate decision; NZ falls

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08/30/2020 | 10:35pm EDT

* Healthcare and consumer firms weigh on the index

* IOOF to buy NAB's wealth unit for $1.1 bln

* NZ bourse loses most in over a week

Aug 31 (Reuters) - Australian shares seesawed on Monday, as investors remained cautious ahead of the central bank's cash rate decision and second-quarter economic growth data expected this week to gauge the impact of the COVID-19 pandemic domestically.

The S&P/ASX 200 index rose 0.2% to 6,083.60 by 0100 GMT, with gains capped by rising worries of an economic recovery as the country reported a record daily rise in coronavirus-related deaths.

Reserve Bank of Australia, set to meet on Tuesday, is expected to hold the cash rate at its all-time low.

Meanwhile, GDP data for the second quarter on Wednesday is likely to reflect the worst of the pandemic's impact.

Analysts at ANZ expect the economy to shrink 5.8% in the June quarter from a year ago, while a Reuters poll forecasts the contraction at 5.3%, compared with a growth of 1.4% in the March quarter.

The biggest drags on the main index were healthcare firms, which fell as much as 0.9% to hit their lowest in about two weeks.

Heavyweight CSL Ltd slipped 0.8%, while ASX-listed shares of Resmed Inc gave up 1.3%.

Gold stocks were among the gainers, rising as much as 2.5%. Newcrest Mining gained 2.7% and Northern Star Resources rose 3%.

National Australia Bank gained 0.8% after wealth manager IOOF Holdings announced the acquisition of its wealth management business for A$1.44 billion ($1.06 billion).

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index slipped 0.6%, or 72.94 points, to 12,020.58 as of 1230 GMT.

The bourse's website crashed for a fifth day in row on Monday, after a series of cyber attacks last week hit the bourse's ability to operate normally.

Financials and healthcare firms dragged down the index, with NZ-listed shares of Westpac Banking Corp losing up to 1% and Fisher & Paykel Healthcare Corp shedding up to 2.4%.

(Reporting by Sameer Manekar in Bengaluru; Editing by Amy Caren Daniel)


Stocks mentioned in the article
ChangeLast1st jan.
ASX LIMITED -1.47% 79.63 End-of-day quote.1.56%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.15% 0.70274 Delayed Quote.0.57%
CSL LIMITED -1.35% 287.56 End-of-day quote.4.28%
FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED -5.38% 35 End-of-day quote.57.66%
IOOF HOLDINGS LTD -0.68% 2.92 End-of-day quote.-62.85%
NATIONAL AUSTRALIA BANK LIMITED 0.00% 18.6 End-of-day quote.-24.48%
NEWCREST MINING LIMITED -0.61% 29.24 End-of-day quote.-3.34%
NORTHERN STAR RESOURCES LIMITED -0.93% 14.85 End-of-day quote.31.30%
RESMED, INC. 6.92% 191.94 Delayed Quote.15.84%
S&P/ASX 200 -0.55% 5927.6 Real-time Quote.-9.47%
WESTPAC BANKING CORPORATION -0.22% 17.91 End-of-day quote.-26.08%
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Financials
Sales 2020 17 378 M 12 214 M 12 214 M
Net income 2020 3 219 M 2 263 M 2 263 M
Net Debt 2020 - - -
P/E ratio 2020 19,3x
Yield 2020 3,13%
Capitalization 61 092 M 42 995 M 42 938 M
Capi. / Sales 2020 3,52x
Capi. / Sales 2021 3,50x
Nbr of Employees 35 245
Free-Float 99,3%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 20,95 AUD
Last Close Price 18,60 AUD
Spread / Highest target 34,4%
Spread / Average Target 12,6%
Spread / Lowest Target -14,4%
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Managers
NameTitle
Ross Maxwell McEwan Group CEO, Managing Director & Director
Philip Wayne Chronican Chairman
Patrick C. Wright Chief Technology & Operations Officer
Gary A. Lennon Group Chief Financial Officer
Geraldine Celia McBride Independent Non-Executive Director
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