ANZ's Running Costs Appear to Have Ticked Up -- Market Talk

Dow Jones05-08

2330 GMT - It appears that ANZ's cost of running the bank has increased, say Macquarie analysts in a note looking at the Australian lender's 1H FY 2024 results. It reckons that given the bank's need to continue to invest, it's likely to rebuild its investment spend back towards A$2 billion per annum, suggesting a new cost base of A$10.6 billion. Overall, Macquarie sees that ANZ's A$2 billion buyback should support the near-term share price, with continued underlying headwinds and trading at around 14 times P/E, it continues to see ANZ and the Australian banking sector as expensive. Macquarie keeps its underperform call on ANZ. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

May 07, 2024 19:30 ET (23:30 GMT)

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It reckons that given the bank's need ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7135","symbol_name":"综合性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2433015751","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433015751","pubTimestamp":1715124600,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2330 GMT - It appears that ANZ's cost of running the bank has increased, say Macquarie analysts in a note looking at the Australian lender's 1H FY 2024 results. 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