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Laura Becerrati

๐Ÿ‘ค Speaker
77 total appearances

Appearances Over Time

Podcast Appearances

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

Let's look at some company news for today, because there's certainly been a little bit around.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

What caught your eye?

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

Australia's third largest bank by market cap, NAB, has seen its share price falling as well today.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

This is after it released half-year results that missed market expectations.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

Now, it also warned of a far more volatile environment than expected due to the Middle East conflict.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

were down around 3.5% earlier this morning, but are currently falling by a little over 1%.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So it has narrowed its earlier losses.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

And this really follows results from ANZ on Friday.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

Now, ANZ reported better than expected cash profit as its CEO pushes ahead with his overhaul of the bank.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So cash profit for ANZ was up 70% versus the September quarter to $3.8 billion, but it was up 6% compared to the same time last year, so the March quarter.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

It also flagged headwinds brought on by the Middle East conflict.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So they've set aside $175 million in provisions to account for the potential impacts of the war.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

And that led its share price to fall by 3% on Friday.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So look, this is becoming somewhat of a theme amongst the banks, but not only the banks, as we've heard from a long list of companies now flagging a potential hit to profits due to the conflict like A2 Milk, like you just spoke about.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

I should also mention that the Bank of Queensland is trading ex-dividend today.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So, that's the cutoff date for those investors eligible to receive a dividend payment.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

And that's seeing its share price fall back by around 3.5%.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

But we are seeing a couple of the major banks improving.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

So, that's why the financial space is almost completely flat.

CommSec Market Update
PM 04 May 26: Caution ahead of RBA decision

I will also quickly mention the second worst performer, which is Liontown.