Provided by Dow Jones
By Stuart Condie SYDNEY Australia s recovery from the coronavirus pandemic has passed another milestone with its benchmark share index closing at a record high, its first in 15 months. The S&P/ ASX 200 index lifted 1.3% to 7172.8 on Monday after another rise in iron-ore prices drove demand for shares in miners including BHP Group Ltd. and Rio Tinto PLC. The index beat its previous record of 7162.5 set on February 20, 2020, and continued a comeback that began on March 24 last year when the index had languished below 4550. For investors, it hasn t been a smooth ride. Early in the pandemic, Australia s economy was exposed to a rapid slowing in global demand that threatened its exports of industrial commodities such as iron ore and coal. Investors had to navigate trade tensions with China, which followed Australian Prime Minister Scott Morrison s call for an international investigation into the origins of Covid-19, and the i
The Nearmap share price fell by 23% after investors responded to the legal case relating to patent infringement.
Nearmap said that it was made aware on the morning of 5 May 2021 of a complaint filed against its subsidiary, Nearmap US Inc, in the United States District Court (District of Utah, Northern Division).
The complaint alleges patent infringement relating to the plaintiffs’ roof-estimation technology. The allegations do not affect Nearmap’s core proprietary technology and do not affect the surveying of imagery or the delivery of premium content. The business remains unaffected, according to management.
This complaint has been filed on behalf of Eagle View Technologies Inc and Pictometry International Corp. The plaintiffs are seeking unspecified monetary damages and the prevention of alleged further infringement in relation to the plaintiffs’ roof-estimation technology.
National Australia Bank HY Profit Surges
CANBERA (dpa-AFX) - National Australia Bank Ltd. (NAUBF.PK, NABZY.PK, NAB.AX) reported that its net profit attributable to owners for half year ended on 31 March 2021 surged to A$3.21 billion from A$1.31 billion in the previous year.
Cash earnings for the period were A$3.34 billion, 94.8 per cent higher than its Half Year Results last year. The bank lifted the 2021 interim dividend to 60 cents per share.
Net operating income was A$8.44 billion, up from A$8.36 billion in the previous year.
NAB CEO Ross McEwan said that it remained a challenging and competitive banking environment in Australia and New Zealand.
How much is the NAB dividend worth now?
How much is the NAB dividend worth now?
National Australia Bank Ltd (ASX: NAB) has just announced its latest dividend for July. Here’s how much it’s worth as a yield going forward
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St Barbara Ltd (ASX: SBM) could finish the week strongly after the gold price jumped higher. According to CNBC, the spot gold price is up 1.7% to US$1,814.90 an ounce. Weakness in the US dollar and bond yields gave the precious metal a lift.
NAB rated as a buy
The
National Australia Bank Ltd(ASX: NAB) share price is good value according to one leading broker. According to a note out of Goldman Sachs, its analysts have responded to NAB’s half year results by putting a conviction buy rating and $29.97 price target on its shares. This implies potential upside of ~13% over the next 12 months excluding dividends.