Will NAB call its $2bn hybrid NABHA?

Christopher Joye

In my AFR column I analyse one of the most debated investments on the ASX: the $2 billion NAB raised in 1999 via its National Income Securities (ASX: NABHA) (click on that link to read via Twitter or direct AFR subscribers can click here): Show More

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What's ahead for the bank reporting season?

PM Capital

NAB, CBA and Westpac, among others, report in early May. In those results we expect credit growth to be stronger than what the market expects. However, we expect relatively poor topline growth for the banks as their net interest margins remain under pressure. Given that the banks have already said... Show More

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Investor Snapshot - NAB full year cash profit slightly beats forecasts


The National Australia Bank has reported a 4% rise in full year cash profit to $6.48 billion and has maintained its final dividend in line with expectations For more market updates, visit Show More

Housing market is not cooling

Christopher Joye

In The AFR I reveal that Australian house prices have jumped another 0.8% over September and by 2.7% in the September quarter, which is north of an 11% annualised pace in an embarrassing contradiction of the RBA's claims that its May and August rate cuts had not stimulated "a new... Show More

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Equity Financial Engineer | Bank on the big four for the yield trade

Mathan Somasundaram

Macro outlook: Low growth and low interest rates remain the key risks for financial stocks as global economies move from one disaster to another. The turnaround big banks offer better value in low growth outlook as they have relatively lower housing exposure and trade at a discount. Preferred picks are... Show More

Investor Snapshot - A review of bank earnings results


Tom Piotrowski speaks with CommSec Advisory’s Blair Hannon about earnings results out this week from Westpac, NAB, ANZ and Macquarie Group FOR MORE MARKET NEWS, VISIT Show More

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SHIELD – Sustainable High Yield | Yield trade outperforming market selloff

Mathan Somasundaram

We remain bullish long term while expected short term January profit taking remains after late December rally. US Fed raising rates strengthened USD and forced China to devaluate Yuan with slowing economy. The devaluation of the Yuan has started the rebalancing of manufacturing away from US, Germany and Japan and... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and then had a slight recovery before the close. The selling looks to be global investors selling out of Australia for currency worry on both equities and bonds. All the macro signals from US Fed, China and the domestic economy points to lower currency and hence... Show More

Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market was taken down today by WOW and NAB with a bit of overseas investor selling thrown in the mix. WOW result was expected to be bad and it was very bad. WOW around $24-25 remains a good long term yield buy idea on the restructure play. We have... Show More

Don't bank on it getting better

Roger Montgomery

Invest for the long-term. That’s the catchcry of a phalanx of advisers since investing in equities emerged from the shadow of railway bonds. But investing for the long-term only makes sense if you invest in extraordinary businesses. The longer you stay invested in mediocre businesses the greater your loss in... Show More

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Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market remains aimless and flat as it waits for central bankers to set the tone. The week of the central bankers will kick of tomorrow with US Fed and even PBOC may come to the market on their outlook. The best performing sectors were Gold, Health Care and Telcos... Show More

Who was clever in the ANZ Capital Raising?

Clime Asset Management

ANZ’s capital raising shows how important pricing of assets is in these difficult markets. Everyone is at risk of misreading prices and values! Investors, shareholders, boards and indeed investment banks need to have a basis for assessing value because market prices are being shown to be volatile and illusory. Investors... Show More

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Quarterly Bank Earnings Growth – Comparing NAB to ANZ

Roger Montgomery

Following on from ANZ’s trading update last week, NAB reported its June quarter trading update today. NAB reported 9 per cent growth in cash earnings for the quarter to A$1.75 billion. This appeared to comfortably beat ANZ’s cash earnings growth of 4 per cent for the same quarter. However, there... Show More

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Matt Felsman

Sectors that have run strongly on rate cut thinking may ease. My view is that the “yield play” has run its course and now is the time to look for high quality growth stocks. The telecommunication industry consolidation, and the trades to be had. Stocks with exposure to mergers, acquisitions... Show More

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Australian Bank Review – May 2015

Matt Felsman

A banking wrap following last week’s reporting and the RBA cutting the official cash rate to 2.0%. WBC had a soft 1H15 result, with cash earnings of $3.778b around 2% below consensus. We downgraded our forecasts by 1.5%, 3%, and 4% for 2015-2017 and lowered our Price Target from $35.10... Show More

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