NAB 0.14% $34.64 national australia bank limited

News: NAB Australian shares end lower on prolonged economic recovery fears

  1. 184,649 Posts.
    lightbulb Created with Sketch. 2711
    • Westpac slips as much as 2.4%
    • Afterpay sheds over 6%; CFO exits
    • Energy stocks drop most in over 2 weeks

    (Updates to close)

    Australian shares closed nearly 1% lower on Thursday, tracking declines on Wall Street, as fresh economic data from the United States cast doubts about a global recovery and hurt local stocks of energy and tech companies.

    The benchmark ASX 200 index (xjo) closed 0.8% lower at 5,875.9. The index had risen the most in more than two months in the previous session.

    Data showed U.S. business activity fell in September, while a separate survey revealed business growth in the Eurozone grounded to a halt. Both the sets of data raised worries about global growth.

    The fears dragged global oil prices, with Beach Energy (BPT) and Oil Search (OSH) leading the declines among Australia's energy stocks .AXEJ . Top gas producer Woodside Petroleum (WPL) fell 2%.

    James Tao, a market analyst at CommSec, said any worries over the U.S. recovery "is not a good sign," adding that growth worries in Europe on top of COVID-19 spell trouble for a market that has rallied on hopes of an economic improvement.

    Tech stocks were the among the top losers, with Afterpay (APT) shedding more than 6% after it announced the departure of its chief financial officer.

    A fall in Westpac Banking Corp (WBC) also weighed after it agreed to pay a A$1.3-billion ($915.07 million) fine. But the stock trimmed losses later as some investors saw the fine marking an end to 10 long months of uncertainty.

    Among its "Big Four" peers, Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB) gained 0.1%-0.4% , while the Commonwealth Bank of Australia (CBA) lost 0.1%.

    In New Zealand, the benchmark NZX 50 index (nz50) edged 0.1% lower.

    Telecom services provider Chorus (CNU) was the biggest percentage laggard on the benchmark, ending lower for a fourth straight session. ($1 = 1.4207 Australian dollars)

 
watchlist Created with Sketch. Add NAB (ASX) to my watchlist
(20min delay)
Last
$34.64
Change
-0.050(0.14%)
Mkt cap ! $107.5B
Open High Low Value Volume
$34.85 $34.92 $34.51 $137.2M 3.961M

Buyers (Bids)

No. Vol. Price($)
3 18858 $34.63
 

Sellers (Offers)

Price($) Vol. No.
$34.65 628 1
View Market Depth
Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
Last
$34.65
  Change
-0.050 ( 0.02 %)
Open High Low Volume
$34.81 $34.91 $34.51 521712
Last updated 15.59pm 28/03/2024 ?
NAB (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.