price of National Australia Bank Ltd (Right now, you could probably use Google or another data provider to see theof ASX: NAB ) is around $48 per share. But what are NAB shares really worth? How to get to an price target is one of the more popular questions our senior investment analysts get asked by Australian investors, especially those seeking dividend income. It’s not exclusive to National Australia Bank Ltd, of course.Westpac Banking Corp (ASX: WBC) and ANZ Banking Group (ASX: ANZ) are also very popula ...

Overnight, the greenback got an added lift after data showed the number of Americans filing new applications for unemployment benefits fell more than expected last week, underscoring labour market stability. It clung to gains in early Asia trade on Friday and left sterling languishing near a one-month low at $1.3457. It was headed for a weekly drop of nearly 1.5%. The euro was similarly down a touch 0.02% at $1.1768 and set ‌to lose 0.8% for ⁠the week, ⁠with the common currency also weighed down by uncerta ...

Key TakeawaysMeta Platforms (META) is cutting employee equity rewards by 5% to pivot capital toward massive investments in Artificial Intelligence infrastructure.President Trump announced a $7 billion international fund for Gaza reconstruction during the inaugural meeting of the Board of Peace.Australian bank shares are outperforming global peers in 2026, driven by a significant surge in domestic profits and high interest rate margins.US stock futures remain flat as investors brace for a high-stakes court r ...

Economic Data and Market Sentiment - Japanese exports rose for the fifth consecutive month in January, indicating a positive trend in trade [6][9] - Confidence among Japanese manufacturers improved in February for the first time in three months, as per the Reuters Tankan poll [6][9] - The International Monetary Fund urged Japan to continue raising interest rates and avoid further loosening of fiscal policy [7][9] Geopolitical Developments - Progress was reported in nuclear talks between Iran and the U.S., with an understanding on main "guiding principles" reached, although a deal is not imminent [5][8] - Peace negotiations between Ukraine and Russia are ongoing, with U.S.-mediated talks taking place in Geneva [6][8] U.S. Economic Indicators - The Federal Reserve's Open Market Committee is set to release minutes from its January meeting, which may provide insights into future monetary policy [8] - The U.S. Commerce Department will issue its first estimate for GDP for the fourth quarter on Friday, which is a key economic indicator [8] Currency Market Movements - The dollar index remained stable at 97.11 after a two-day advance, reflecting mixed market sentiment [2][8] - The yen strengthened by 0.1% to 153.12 per dollar, while the euro held steady at $1.1852 [2][5] - The Australian dollar and kiwi remained steady at $0.7083 and $0.6047 respectively, with New Zealand's central bank expected to hold rates [8][9] U.S.-Japan Investment Initiatives - The Trump administration announced three projects valued at $36 billion to be financed by Japan, part of a larger $550 billion investment agreement aimed at reducing U.S. tariffs [7][9]

Group 1: Valuation of Commonwealth Bank of Australia (CBA) - The current share price of CBA is approximately $176.02, with a calculated PE ratio of 31.3x based on FY24 earnings per share of $5.63, compared to the banking sector average PE of 20x, leading to a sector-adjusted PE valuation of $114.40 [6][5] - A Dividend Discount Model (DDM) valuation suggests that using last year's dividend payment of $4.65, the share price could be valued at $98.33, and with an adjusted dividend of $4.76, the valuation increases to $100.66 [11][10] - Considering fully franked dividends, the valuation based on a gross dividend payment of $6.80 results in a share price valuation of $143.80 [12] Group 2: Investment Appeal of Banking Sector - The financial/banking industry is favored by Australian investors, particularly for dividend income, with major banks like CBA and National Australia Bank operating in an oligopoly [2][3] - Despite attempts by large international banks like HSBC to penetrate the Australian market, their success has been limited, reinforcing the strong position of the 'Big Four' banks [3] Group 3: Valuation Methodologies - The PE ratio is a common valuation tool that compares a company's share price to its earnings per share, but it should be used alongside other methods for a more accurate assessment [4][5] - The DDM is an established valuation technique that relies on consistent or modestly growing dividends, requiring a risk rate for discounting future payments [8][9]

亚洲货币兑美元盘整，因该地区大部分市场迎来春节假期，交投清淡。澳洲联邦银行的Kristina Clifton 在一份研究报告中表示，将于本周公布的美国联邦公开市场委员会1月份会议纪要和美国第四季度GDP 初值，不太可能实质性改变市场对美联储降息的定价。这位高级经济学家兼高级货币策略师表示，市场 目前预计美联储6月份降息的可能性很高，这也与澳洲联邦银行的观点一致。FactSet数据显示，美元兑 韩圆基本持平，报1,444.01韩圆；澳元兑美元小幅下跌0.2%，至0.7060美元。 来源：滚动播报 ...

Core Viewpoint - Bendigo and Adelaide Bank Ltd reported its FY26 half-year results, highlighting a mixed performance in residential and business lending, alongside a commitment to strategic initiatives and improvements in risk management capabilities [1][2][5]. Financial Performance - Residential lending applications improved, with December 2025 being the strongest month of the financial year, although total residential lending decreased by 0.1% to $65.1 billion [3][8]. - Business lending grew by 2.8%, but agribusiness lending saw a decline of 6.2% due to favorable seasonal conditions leading to significant loan paydowns [3]. - Customer deposits increased by 2.3% to $73.7 billion, while net interest margin improved by 4 basis points to 1.92% [8]. - Cash earnings declined by 3.3% to $256.4 million, while statutory earnings rose by 6.4% to $230.6 million [8]. Operational Highlights - Total operating expenses rose by 4.2% due to higher software and remediation costs, but second-quarter expenses were 6.4% lower than the first quarter [4]. - Gross impaired loans decreased by 3.1% to $125.6 million, with a slight increase in 90-day arrears for residential lending [5]. Strategic Initiatives - The bank is committed to investing in its 2030 strategic initiatives and enhancing its anti-money laundering and counter-terrorism financing (AML/CTF) capabilities, with an uplift program expected to cost between $70 million to $90 million over three years [5][6]. - The bank aims to achieve a return on equity (ROE) of above 10% by 2030 [7]. Market Context - The Australian economy shows positive signs with a strong labor market and increased business investment, although challenges remain due to rising living costs and lagging productivity [9]. - Despite solid profit performance, loan growth remains a challenge compared to competitors like Macquarie Group and Commonwealth Bank [10].

Core Viewpoint - Lithium prices remain significantly below the historical highs reached in 2023, but have been rising in recent months due to supply disruptions in China and strong demand, with further increases expected [1] Price Trends - Lithium spodumene and lithium hydroxide prices have increased by approximately 35% year-to-date, with spodumene prices more than doubling since late June and lithium hydroxide prices increasing by over 100% [1] Supply Chain Issues - China's lithium supply continues to be adversely affected by environmental inspections and permit suspensions, contributing to the price increases [1] - The demand for lithium is bolstered by cathode material producers replenishing inventory ahead of the Lunar New Year holiday [1] Demand Outlook - The demand outlook for lithium remains optimistic, with energy storage systems performing better than expected [1] Related Stocks - Relevant U.S. stocks in the lithium sector include Albemarle (ALB.US), Sociedad Química y Minera de Chile (SQM.US), Lithium Americas (LAC.US), Lithium Argentina (LAR.US), Sigma Lithium (SGML.US), and Standard Lithium (SLI.US) [1]

Core Viewpoint - The Commonwealth Bank of Australia (CBA) share price is under scrutiny as investors attempt to establish a valuation for the bank amidst fluctuating market conditions [1][2] Valuation Methods - The Price-to-Earnings (PE) ratio is a common method for valuing bank shares, comparing the share price to earnings per share [3] - Investors can use intuition, sector comparisons, or earnings multiples to assess the PE ratio [4] - CBA's current share price is $174.45, with an earnings per share of $5.63, resulting in a PE ratio of 31x, compared to the banking sector average of 20x [5] Dividend Discount Model (DDM) - The Dividend Discount Model (DDM) is a robust valuation method for banks, relying on past or forecasted dividends and a risk rate [6][7] - The formula for DDM is Share price = full-year dividend / (risk rate – dividend growth rate) [8] - Using a blended growth rate and risk rate between 6% and 11%, the DDM valuation for CBA shares ranges from $98.33 to $100.66, compared to the current share price of $174.45 [10] Adjusted Valuation - Considering fully franked dividends, the valuation based on a gross dividend payment of $6.80 results in a share price valuation of $143.80 [11] Growth and Risk Rate Analysis - Various growth and risk rate scenarios yield different valuations, with a 2% growth rate and a 6% risk rate suggesting a valuation of $119.00, while a 4% growth rate and an 11% risk rate suggest a valuation of $52.89 [12] Additional Considerations - Investors should assess net interest margins, regulatory impacts on non-interest income, and the management team's effectiveness when evaluating CBA [13]

Economic Indicators - The U.S. non-farm payroll employment increased by 130,000 jobs in January, significantly higher than the expected increase of 70,000 jobs, following a downwardly revised increase of 48,000 jobs in December [2][23] - The unemployment rate decreased to 4.3 percent in January from 4.4 percent in December, contrary to expectations that it would remain unchanged [2][24] Market Reactions - Major U.S. index futures are indicating a higher open, driven by the positive employment report, which may lead to upward movement in stocks after a mixed performance in the previous session [1][3] - The Dow Jones Industrial Average rose by 52.27 points (0.1 percent) to 50,188.13, while the S&P 500 fell by 23.01 points (0.3 percent) to 6,941.81, and the Nasdaq dropped by 136.20 points (0.6 percent) to 23,102.47 [4] Retail Sales - U.S. retail sales were flat in December, unchanged from the previous month, despite expectations for a 0.4 percent increase, indicating a pause in consumer spending after strong sales in October and November [5][6] - Excluding motor vehicle and parts dealers, retail sales remained virtually unchanged in December, with a slight increase of 0.4 percent in November [6] Sector Performance - Housing stocks experienced a significant increase, with the Philadelphia Housing Sector Index rising by 3.4 percent, attributed to a decrease in treasury yields [8] - Utilities and commercial real estate stocks also performed well, with the Dow Jones Utility Average increasing by 1.9 percent and the Dow Jones U.S. Real Estate Index climbing by 1.3 percent [8] - Conversely, brokerage stocks fell sharply, with the NYSE Arca Broker/Dealer Index declining by 2.5 percent [9] Commodity and Currency Markets - Crude oil futures rose by $1.52 to $65.48 per barrel, while gold prices increased by $42.60 to $5,073.60 per ounce [11] - The U.S. dollar traded at 153.59 yen, down from 154.38 yen, and at $1.1865 against the euro, compared to $1.1894 previously [11]