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WBC - Westpac
Couldn't find the old thread, so I started a new one (anyone know of a good way to search for them? The forum search never works for me and couldn't find on Google).
Noticed that there's a trading halt on WBC, pending an announcement - hope its not a bad one!
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Originally Posted by Lewylewylewy
Couldn't find the old thread, so I started a new one (anyone know of a good way to search for them? The forum search never works for me and couldn't find on Google).
Noticed that there's a trading halt on WBC, pending an announcement - hope its not a bad one!
https://www.nzx.com/files/attachments/234568.pdf
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Well the market liked that result ay, up 2.8% on the ASX as I type ?
A continuation of dividend, ok a 7% drop in earnings, perhaps less than expected given ANZ at 13% I think it was, but perhaps also in consideration of a forward expectation that the RBA is done with interest rate cuts, perhaps more important for WBC than ANZ given their domestic focus, earnings stabilty from here forward.
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Yes, well received by the market although a few reservations as to whether maintaining the dividend will prove to be sustainable. But that's for the future!
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Indeed mr macduffy, it's a bit like generally trying to predict the bottom for the aussie banks too, a long piece of string, although with aussie GDP forecast by some to be 3% and interest rates going no lower, one has to start to keep one eye on that, who decides, I don't know. I bought a few WBC at $30.90, comfortable with that for now.
Be interesting to see what analysts revise to over the coming week, an increment up I expect.
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The service at Barrington Mall Branch just keeps on getting worse.
After 10 minutes in the que the guy in front of me gave up .!
I went online and complained.
"We will answer your email in 24" or was it 48 hours, said it all to me.
Hopeless.
Last edited by percy; 07-11-2016 at 03:53 PM.
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Nice to see the banks getting a lift on global bond yields rising, could be the start of a long awaited trend change here to some extent ?
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Ref the attached chart, can anyone offer an informed view on the upside potential of Westpac from here.
WBC.jpg
Chart: 18 month downward channel breakout and a golden cross to boot.
Macro: perhaps a bottom has been put in for the banks, interest rates stabilizing at their cyclical lows, both the Aussie and NZ economic outlooks on the up, US 10 bond yields on the rise, Yellen likely to go in Dec,
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Macro: perhaps a bottom has been put in for the banks, interest rates stabilizing at their cyclical lows, both the Aussie and NZ economic outlooks on the up, US 10 bond yields on the rise, Yellen likely to go in Dec,
Yes, that seems to be so with several Aussie analysts finding that the banks are back in fashion!
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