ANZ

Australian Banking Sector Preview


Australian Banking Sector reporting season preview from Australian market analyst UBS.

Start scooping up banks. Mild overweight.

Recent price falls provide a buying opportunity:

The Aussie banks have seen a sharp pull back in recent weeks following their global peers. We believe that this has been driven by: (1) concerns for the health of the US investment banks into their reporting season; and (2) overhang from the current global bank rights issues. As a result the Australian banks have now underperformed the All Resources by 46% over the last year.

Australian Banking Sector News Update


MRE aggressively downgraded Australian banking sector earnings in April this year following the March half-year reporting season.

Which Bank?

Australian Banking Sector Update


Here is an Australian banking sector update from Australian market analyst UBS.

Labor Govt keeps the Four Pillars Policy

Rudd Government is committed to the four pillars policy:

Australian Banking Sector Updates


Here is an update on Australian Banking Sector from market analyst Macquarie Research Equities.

Credit growth, goodbye to the highs

April credit growth 0.4%: business 0.1%, personal 0%, housing 0.7%:

Banking Sector Update


Here are the Macquarie Research Equities (MRE) highlights on some of the recent impacts experienced by the Australian Banking Sector.

Bank Opportunities

The Australian Banks outperformed the market by 3.3% last week, yet are still trading significantly below their November 2007 highs. Headlining recent developments in this area has been the proposed merger between WBC and SGB. Macquarie Research Equities (MRE) review the week in question and reaffirm their guidance for the sector. Click through to find out more…

Banking Sector Impacts

ANZ Denies Financing Gunns Deal


ANZ confirmed that it has finally pulled out from the Gunns deal. It had been under pressure from the conservationist for not funding the $2 billion Tasmanian pulp mill project. ANZ did not give any reason for pulling out of the deal and the Tasmanian government also refuses to comment on ANZ’s refusal. However, the Deputy Leader of Opposition states this refusal as only a minor hiccup. The Federal Environment minister Peter Garrett states that financing such a project is entirely a matter for the Gunns and not the Federal government.

Australian Banking Sector Update


Here is an update on the Australian banking sector provided by Australian market analyst UBS.

Results and M&A - an eventful month

Reporting season surprised on the upside:

Banking Sector Update Today


Macquarie Research Equities (MRE) highlighted some of the recent impacts experienced by the Australian Banking Sector.

Banking Sector – Westpac (WBC) Looks to Slay the Dragon

The Strain of rising interest rates, spiking inflationary pressure and low levels of consumer sentiment seemed to take its toll on the Aussie banks last week as they underperformed the market by 4.3%. Macquarie Research Equities (MRE) discusses the key highlights of the week and the implications for the sector. With the exclusivity period for the SGB merger ending, what’s next?

Banking Sector Update


Australian Banking Sector Update provided by Australian stockmarket analyst Macquarie Research Equities.

Banking Sector Revisited

St George Bank (SGB) Update


St George Bank (SGB) has a price target of $34.00 from sharemarket analyst Macquarie Research Equities.

St George Bank (SGB) What could the other banks pay?

WBC looks well positioned with SGB Board support:

Given the SGB Board's support for its 1.31 for 1 bid (subject to no superior proposals being made), WBC appears to be well positioned. As a result, we believe a counter-bid would need to be at least 5-10% higher than WBC's proposal in order to win the SGB Board's support. This leads to two key questions.

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