{"id":61245,"date":"2014-10-01T21:13:42","date_gmt":"2014-10-02T01:13:42","guid":{"rendered":"http:\/\/countingpips.com\/?p=61245"},"modified":"2014-10-01T21:13:42","modified_gmt":"2014-10-02T01:13:42","slug":"why-the-anz-banking-group-ltd-share-price-bounced-today","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/10\/why-the-anz-banking-group-ltd-share-price-bounced-today\/","title":{"rendered":"Why the ANZ Banking Group Ltd Share Price Bounced Today"},"content":{"rendered":"
October 1, 2014<\/div>
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By MoneyMorning.com.au<\/u><\/a><\/p>\n

What Happened to Australia and New Zealand Banking Group Ltd\u2019s Share Price?<\/h2>\n

Shares in Australia\u2019s third-biggest bank, Australia and New Zealand Banking Group Ltd [ASX:ANZ]<\/strong>, rose by 1.65% today in a welcome positive session on the Aussie stock market<\/a>. <\/p>\n

At $31.43, ANZ shares have bounced well off last week\u2019s six-month low\u2026but are still down 10% from April\u2019s all-time high.<\/p>\n

The bounce may reassure share investors who bought ANZ over the past year expecting reliable yield and capital growth.<\/p>\n

Why Did This Happen to ANZ Shares?<\/h2>\n

When the share price of one of Australia\u2019s big four banks moves, the other three tend to move in a similar direction.<\/p>\n

The market has bid up the price of all four big banks<\/a> today\u2026so in a broad sense, the price action shows that investors are viewing the recent downturn in bank stocks as overplayed.<\/p>

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It goes to show how quickly a short-term correction can reverse to the upside.<\/p>\n

Plenty of pundits insist that bank stocks can\u2019t cope if and when central banks slow down or stop pumping so much money into the economy.<\/p>\n

That view has weighed on all four big Aussie bank stocks lately…but the extent of the selloff has looked unfairly harsh.<\/p>\n

ANZ\u2019s larger exposure to the Asian markets means it should outperform in times of benign economic growth\u2026and suffer more when the market hits patches of risk aversion. That outsized exposure seems to be why the ANZ share price has outperformed its peers and the market today.<\/p>\n

What Now for Australia and New Zealand Banking Group Ltd?<\/h2>\n

Much like its three fellow pillars of the Aussie banking system, ANZ has enjoyed a fantastic share price run over the past two years.<\/p>\n

That reflects more than just a \u2018rising tide\u2019 of stock market bullishness. ANZ\u2019s profits are ramping up thanks to a well-planned strategy for domestic and international growth.<\/p>\n

The best time to buy bank stocks is when fear and uncertainty overwhelm the market. That\u2019s why anywhere north of the $30 level ANZ shares broached back in February, I\u2019d view this big dividend-paying stock as too cheap to ignore.<\/p>\n

Cheers, Tim Dohrmann<\/strong>+<\/strong><\/a>
\nSmall-Cap Analyst, Australian Small-Cap Investigator<\/em><\/strong>
\nJoin Money Morning on Google+ <\/span><\/a><\/strong><\/p>\n

The post Why the ANZ Banking Group Ltd Share Price Bounced Today<\/a> appeared first on Stock Market News, Finance and Investments | Money Morning Australia<\/a>.<\/p>\n

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\nBy MoneyMorning.com.au<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By MoneyMorning.com.au What Happened to Australia and New Zealand Banking Group Ltd\u2019s Share Price? Shares in Australia\u2019s third-biggest bank, Australia and New Zealand Banking Group Ltd [ASX:ANZ], rose by 1.65% today in a welcome positive session on the Aussie stock market. At $31.43, ANZ shares have bounced well off last week\u2019s six-month low\u2026but are still […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-61245","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=61245"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/61245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=61245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=61245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=61245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}