Business
Why ANZ, Westpac, and the rest of the big four are storming higher today
It certainly has been a positive day of trade for the banking sector.
Strong gains by the big four banks on Thursday are helping to drive the S&P/ASX 200 Index (ASX: XJO) notably higher.
What is happening?
Here’s the state of play in the banking sector this afternoon:
The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is up 4.5% to $23.82.
The Commonwealth Bank of Australia (ASX: CBA) share price is up 2.5% to $84.86.
The National Australia Bank Ltd (ASX: NAB) share price is up 3% to $23.11.
The Westpac Banking Corp (ASX: WBC) share price is up 4.5% to $20.22.
Why are the banks charging higher?
Today’s gains appear to have been driven by a broker note out of Citi in the United States.
According to the AFR,…
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