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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Westpac Banking Corporation    WBC   AU000000WBC1

WESTPAC BANKING CORPORATION

(WBC)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/19
21.6 AUD   +1.93%
12:40aAustralia shares close higher on rebound in miners, financials
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01/18Australia, New Zealand dollars buoyed by risk-on mood
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01/18Australia shares jump 1%, led by gains in mining and financial stocks
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Australia shares gain 2% as cenbank trims rates, expands bond buying

11/03/2020 | 12:46am EST

* RBA cuts cash rate to 0.1%, announces A$100 bln QE

* Energy stocks gain on stronger oil prices

* Gold stocks, bullion prices gain on U.S. election uncertainty

Nov 3 (Reuters) - Australian shares on Tuesday closed 2% higher to notch their best session in nearly a month, buoyed by the central bank's decision to trim interest rates and launch quantitative easing.

The S&P/ASX 200 index finished 1.9% higher at 6,066.40 after marking its strongest intraday session since Oct. 5. The benchmark gained 0.4% in the previous session.

The Reserve Bank of Australia trimmed interest rates to near zero on Tuesday and expanded its bond-buying programme, as widely expected, a much-needed salve to aid economic recovery from the country's worst recession in a generation.

"QE is different and they are talking about 100 billion, so that will be well-received. It is not a solution, it just keeps things going in the short term," Brad Smoling, managing director at Smoling Stockbroking.

While Australia has controlled the spread of the virulent disease and opened its economy earlier than expected, domestic and international borders remain closed, business investment is weak and consumer spending is still tepid.

Australia shares also tracked major indices on Wall Street higher on the eve of the U.S. Presidential election, with investors bracing for short-term trading turmoil and major long-term policy shifts.

Biden leads in national opinion polls, but races are tight in battleground states that could tip the election to Trump. Analysts said if there is no clear winner, the outcome most likely to shake equity markets in the near term.

Domestic energy stocks were the top performers after closing 5.3% higher, buoyed by a rebound in oil prices.

The Australian gold index rallied as their safe-haven appeal brightened on uncertainty surrounding the outcome of the U.S. election and a spike in global coronavirus cases.

Financials added more than 1%, with the so-called "Big Four" banks, except Westpac Banking Corp, closing firmer.

New Zealand's benchmark S&P/NZX 50 index ended 0.5% higher at 12,130.31, with Pushpay gaining 4.6% and Fletcher Building adding 3.3%. (Reporting by Nikhil Subba in Bengaluru, Editing by Sherry Jacob-Phillips)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FLETCHER BUILDING LIMITED 0.81% 6.22 End-of-day quote.5.42%
LONDON BRENT OIL 2.14% 55.92 Delayed Quote.6.15%
PUSHPAY HOLDINGS LIMITED -1.90% 1.55 End-of-day quote.-14.36%
S&P/ASX 200 1.19% 6742.6 Real-time Quote.1.15%
WESTPAC BANKING CORPORATION 1.93% 21.6 End-of-day quote.11.51%
WTI 1.27% 52.966 Delayed Quote.8.19%
All news about WESTPAC BANKING CORPORATION
12:40aAustralia shares close higher on rebound in miners, financials
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01/18Australia, New Zealand dollars buoyed by risk-on mood
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01/18Australia shares jump 1%, led by gains in mining and financial stocks
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01/11Australia shares gain as markets bank on U.S. stimulus hopes
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Financials
Sales 2021 20 096 M 15 474 M 15 474 M
Net income 2021 5 223 M 4 022 M 4 022 M
Net Debt 2021 - - -
P/E ratio 2021 15,3x
Yield 2021 4,16%
Capitalization 78 706 M 60 478 M 60 604 M
Capi. / Sales 2021 3,92x
Capi. / Sales 2022 3,89x
Nbr of Employees 36 849
Free-Float 99,6%
Chart WESTPAC BANKING CORPORATION
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Westpac Banking Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends WESTPAC BANKING CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 22,02 AUD
Last Close Price 21,60 AUD
Spread / Highest target 25,0%
Spread / Average Target 1,96%
Spread / Lowest Target -30,6%
EPS Revisions
Managers and Directors
NameTitle
Peter Francis King Chief Executive Officer, MD & Director
John McFarlane Chairman
Scott Collary Chief Operating Officer
Michael Rowland Chief Financial Officer
Peter Ralph Marriott Independent Non-Executive Director
Sector and Competitors