Here are the stories from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles today. Rask Media has your financial news headlines sorted.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 70.71 US cents
Dow Jones (DJI): up 1%
Oil (WTI): $US64.88 per barrel
Gold: $US1,216 per ounce
In Aussie economic news today we’ll see the release of CommBank’s (ASX: CBA) PMI Manufacturing data for October, Corelogic’s house price data, the RBA’s commodity price index and trade balance data for September.
In sharemarket news, New Zealand’s Z Energy Ltd (ASX: ZEL) reported its half-year results showing a 28% increase in revenue to $NZ2.67 billion and a profit of $NZ139 million, up 74%.
National Australia Bank Ltd. (ASX: NAB) released its 2018 full year results showing a 6% increase in revenue compared to 2017. Net profit rose 5.1% to $5.54 billion and a final dividend of 99 cents per share was declared, in-line with last year.
“While 2018 has been a challenging year, our transformation is on track and benefits are emerging as we become simpler and faster,” NAB CEO Andrew Thorburn said.
Today we announced NAB’s 2018 Full Year Result. Thank you to our 8.9 million customers. We’re continuing to transform our bank so we can keep backing you. pic.twitter.com/9DiPUx8xkE
— Andrew Thorburn (@AndrewThorburn) October 31, 2018
The bank reported a 3.8% decline in impairment charges to $779 million and said the percentage of loans passed 90 days due stood at 0.71%, up from 0.7% last year.
“Asset quality and balance sheet metrics remain sound, and we have a clear path to achieving APRA’s unquestionably strong CET1 target of 10.5% by January 2020,” Thorburn added.
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