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
Bank of Queensland (ASX:BOQ) share price outperforms the big four
Brooke Cooper | May 5, 2021 12:57pm |
More on: Image source: Getty Images
Bank of Queensland Limited(ASX: BOQ) shareholders can rejoice. Over the last 12 months, the regional bank’s share price has the big four banks’ beat. Since this time last year, the Bank of Queensland share price has gained a massive 95%. Currently, the bank’s shares are swapping hands for $9.11 apiece.
For comparison, the
S&P/ASX 200 Index (ASX: XJO) has gained around 32% in the same time frame. Of the big fours’ share prices, the largest increase came from
Australia and New Zealand Banking Group Ltd(ASX: ANZ). The ANZ share price has gained 72% over the past year.
Citi s Australia unit draws interest from major local banks americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
7,096 points.
Australia and New Zealand Banking Group Ltd (ASX: ANZ)
ANZ reported its HY21 result today. Compared to the second half of FY20, statutory profit after tax grew by 45% to $2.94 billion, cash profit (continuing operations) rose by 28% to $2.99 billion.
One of the key drivers was a net credit provision release of $491 million.
ANZ’s board decided to increase its dividend per share by $0.35 to $0.70. This decision was taken after a 110 point increase of the common equity tier 1 (CET1) capital ratio to 12.4%.
The CEO of ANZ, Shayne Elliott, said:
Following the trends of the first quarter, all parts of our business performed well. Costs were down 2% and we also increased investment in new digital capability that will provide ongoing productivity improvements and better customer outcomes.
ANZ HY Profit Up 90%
CANBERA (dpa-AFX) - Australia And New Zealand Banking Group Ltd.(ANZ.AX, ANZBY.PK, ANZ) reported that its profit after tax for the half Year ended 31 March 2021 rose to A$2.94 billion or 98.4 cents per share, from A$1.55 billion or 51.5 cents per share in the prior year.
The latest-period included net credit provision release of A$491 million, compared to credit impairment charge of A$1.67 billion last year.
Cash profit for the period surged to A$2.98 billion from A$1.32 billion in the prior year.
But, net interest income declined to A$6.99 billion from A$7.22 billion in the previous year.