Resolute Mining Limited (ASX: RSG) will be on watch after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.55% to US$1,785.90 an ounce. The gold price rose after the US dollar pulled back.
ANZ rated as a buy
The
Australia and New Zealand Banking GrpLtd(ASX: ANZ) share price could be good value according to analysts at Goldman Sachs. This morning the broker responded to its half year results by putting a buy rating and $30.20 price target on its shares. Goldman is also forecasting a 5% dividend yield in FY 2021.
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National Australia Bank first-half cash profit soars 95% Reuters 5/5/2021
May 6 (Reuters) - National Australia Bank Ltd reported a 95% surge in first-half cash profit on Thursday as a rapid economic recovery encouraged the country s third-biggest lender to reverse provisions set aside for likely bad debt due to the pandemic.
Cash profit came in at A$3.34 billion ($2.59 billion) for the half year compared with A$1.72 billion a year earlier, beating an estimate of A$3.05 billion according to a Reuters poll. ($1 = 1.2908 Australian dollars) (Reporting by Shashwat Awasthi and Shruti Sonal in Bengaluru; Editing by Sriraj Kalluvila)
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Crypto market split: Those rising and those falling
April was a hype-filled month for cryptocurrencies as the virtual coins market experienced a flash crash in mid-April, plunging deep into the red before rebounding strongly a week later as if nothing had happened.
Yes, it is true that the cryptocurrency market has been volatile from the very beginning, but the weeks have been a particularly wild ride for millions of investors around the world. Probably, volatility is what have helped cryptocurrencies reach the mainstream market, they appear to be particularly bolstered by growing institutional interest and pandemic-induced financial uncertainty.
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Ethereum overtakes Australia’s largest banks combined
Ethereum (ETH) has topped the $3,000 psychological level this morning, soaring as high as US $3,050 after what can be described as a remarkable resurgence after the mid-April market crash.
The second-largest cryptocurrency by market cap has seen a consistent upward traction over the past week – with its current value representing a remarkable 15-fold rise from its $200 level price a year ago.
Ether started to pick up momentum last week after media reports suggested the European Investment Bank (EIB) could launch a digital bond sale on the ethereum blockchain network in collaboration with heavyweight banks.
Targets A$8 bln cost base by 2024, smaller head office, branches Result and cost target better thane expected - analysts (Recasts and updates throughout with detail, CEO & analyst comment, share price open)
SYDNEY, May 3 (Reuters) - Australia’s Westpac Banking Corp will close some branches and shift focus to digital banking under a cost-cutting plan unveiled on Monday as it reported that first half cash earnings more than tripled from a year ago.
The country’s second largest bank said costs will initially increase this fiscal year as it sells non-core businesses and beefs up its digital offering, before starting to fall from fiscal 2022.