|Bid||27.20 x 15000|
|Ask||27.85 x 7500|
|Day's range||27.42 - 27.80|
|52-week range||24.10 - 33.46|
|Beta (3Y monthly)||1.06|
|PE ratio (TTM)||11.98|
|Forward dividend & yield||1.69 (6.08%)|
|1y target est||36.00|
Australian regulators have charged ANZ Bank, a local arm of Citigroup and Deutsche Bank with "criminal cartel offences" over a nearly US$2 billion stock issue related to a 2015 institutional share trade, one of the country's biggest cases of alleged white-collar crime. Ed Giles reports.
If Citigroup (C) and Deutsche Bank (DB) are proven guilty of the allegations of criminal cartel conduct, their financials and reputation might face a major setback.
Australia & New Zealand Banking Group Ltd. is being sued by the securities regulator over a controversial 2015 share sale which is already the subject of criminal-cartel charges. The Australian Securities & Investments Commission alleges the lender breached continuous disclosure responsibilities by not informing the market that the joint lead managers of the sale took up approximately 25.5 million shares in the placement, the bank said in a statement Friday. Australian prosecutors allege the former local heads of Citigroup Inc. and Deutsche Bank AG, among others, engaged in criminal cartel behavior.
Two more of Australia’s big banks have raised home loan rates as funding costs climb, heaping additional pressure on indebted households. Commonwealth Bank of Australia, the nation’s biggest mortgage lender, and Australia & New Zealand Banking Group Ltd. both raised their key standard variable mortgage rate Thursday, joining Westpac Banking Corp., which was the first of the big four to move last week. The move comes even as the central bank holds official interest rates at a record low, and may squeeze borrowers already struggling with stagnant wages growth and the highest levels of household debt among G-20 nations.
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The shared currency lost more than 5 percent in value against the dollar through April and May, making it “quite attractive” for Russell Investments, which oversees about $300 billion. Fading political risks surrounding Italy’s euro-skeptic coalition government and the prospect of the European Central Bank raising interest rates as early as next year also argue in favor of holding the currency, according to the Seattle-based fund. “The euro is quite attractive for a couple of reasons,” Gerard Fitzpatrick, the chief investment officer for Europe, Middle East and Africa at Russell, said in an interview with Bloomberg Television.
Raymond Yeung, chief China economist at ANZ Banking Group, discusses China's factory inflation data and what it means for the economy. He speaks on "Bloomberg Daybreak: Asia." (Source: Bloomberg)...
With an ROE of 12.45%, Australia and New Zealand Banking Group Limited (ASX:ANZ) outpaced its own industry which delivered a less exciting 11.83% over the past year. While the impressiveRead More...
Nobody quite knows what market manipulation is, but in general it is fairly clear that if you buy stock for the express and sole purpose of keeping the stock price up, that is probably manipulation. It is perfectly legal, but it is not legal because it is not manipulative.
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The Australian regulator has sued Citi (C), Deutsche Bank (DB) and ANZ Bank (ANZBY) for alleged cartel conduct. This is likely to hurt the banks' reputation to some extent.
Citigroup (C) along with Deutsche Bank -- the underwriters for the sale of ANZ Bank's shares in 2015 -- face the threat of criminal cartel charges.