ASX 200 weekly wrap: CBA, ANZ, Westpac, NAB make gains

The big four banks helped drive the Australian share market higher last week despite Commonwealth Bank’s first annual profit fall since the global financial crisis.
Big 4 banks

Not even the banking royal commission’s critical probe into National Australia Bank held back the financials from being one of the best performing sectors last week.

CBA added about $4.7 billion to its market value with its share price rising 3.7% over the five days to close at $75.50, even though it posted its first annual cash profit decline since 2009.

Canstar’s General Manager of Wealth Josh Callaghan said a few one-off regulatory penalties and compliance fees led to the 4.8% drop in CBA’s full-year cash net profit to $9.23 billion.

He said if it weren’t for those one-off costs, CBA would have posted a record profit of just over $10 billion.

“The fundamentals were all still strong which was passed along to investors who will see a grossed-up dividend yield of over 8%,” Mr Callaghan said.

“The big four banks tend to move up and down with each other which was the case for Westpac and ANZ last week, however, the NAB share price wasn’t able to keep up.”

He said this may have been because NAB was at the centre of the royal commission’s first week of superannuation hearings and the prospect that some NAB executives could face criminal charges over the fees-for-no-service scandal.

Westpac’s and ANZ’s share prices rose by more than 2% last week, while NAB shares advanced 1.4% to $28.09.

ASX 200 Listed Companies – Top 5 Biggest Market Cap Gains and Losses (06/08/2018 to 10/08/2018)
Biggest Gains Biggest Losses
Company $ Change in Market Cap Closing Share Price % Change in Share Price Rank Company $ Change in Market Cap Closing Share Price % Change in Share Price
Commonwealth Bank (CBA) $4,698,780,623 $75.50 3.7% 1 Amcor (AMC) -$1,187,094,808 $14.26 -6.7%
Westpac (WBC) $2,266,965,829 $29.57 2.3% 2 AGL Energy (AGL) -$747,640,549 $20.69 -5.2%
ANZ (ANZ) $1,961,831,463 $29.32 2.4% 3 Unibail-Rodamco-Westfield (URW) -$657,728,317 $14.79 -0.7%
CSL (CSL) $1,954,371,387 $202.83 2.2% 4 Aristocrat Leisure (ALL) -$657,700,475 $31.16 -3.2%
BHP Billiton (BHP) $1,445,260,997 $33.83 1.3% 5 Treasury Wine Estates (TWE) -$589,304,108 $18.04 -4.3%
Prepared by Canstar. Prices taken as of week to week close.

Among some of the biggest losses on the market last week was packaging giant Amcor which had about $1.2 billion wiped from its market value after its share price declined 6.7% to $14.26.

The share price fall came after Amcor returned from a trading halt with news that it planned to buy US rival Bemis for a 25% premium.

Energy provider AGL’s share price dropped 5.2% to $20.69, slashing about $748 million from its market value over the week, following a soft profit forecast.

ASX 200 Listed Companies – Top 5 Biggest Share Price Gains and Losses (06/08/2018 to 10/08/2018)
Biggest Gains Biggest Losses
Rank Company Closing Share Price % Change Rank Company Closing Share Price % Change
1 Magellan Financial (MFG) $28.04 17.9% 1 Eclipx Group (ECX) $1.91 -37.5%
2 Lynas Corporation (LYC) $2.31 7.9% 2 Bellamy’s Australia (BAL) $9.71 -13.9%
3 Crown Resorts (CWN) $14.20 6.1% 3 Smartgrp Corporation (SIQ) $11.23 -9.0%
4 SOUTH32 (S32) $3.64 6.0% 4 Syrah Resources (SYR) $2.59 -8.8%
5 Tabcorp Holdings (TAH) $4.95 5.9% 5 Infigen Energy (IFN) $0.58 -8.7%
Prepared by Canstar. Prices taken as of week to week close.

Infant formula maker Bellamy’s Australia has continued its poor run with its share price plunging by almost 14% to $9.71.

Meanwhile, casino operator Crown Resorts impressed investors with a stronger-than-expected profit rise which helped drive its shares up 6.1% to $14.20.

As for the wider market, the benchmark S&P/ASX 200 rose 0.71% to 6,278.4 points and the All Ordinaries gained 0.64% to 6,366.80 points over the week.

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