Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

ANZ Group (ASX: ANZ) Shares Surge Over 3% in a week

Published 09/03/2024, 03:14 am
© Reuters.  ANZ Group (ASX: ANZ) Shares Surge Over 3% in a week

Shares of ANZ Group (ASX: ANZ) are on a remarkable trajectory, gaining 3.54% this week. If the trend persists, it could mark the best weekly gain since December 15.

Currently, the stock is up 1.74%, reaching its record high of AU$29.82 apiece.

ANZ Sells 16.5% Stake in AmBank

In a strategic move, Australia's fourth-largest bank, ANZ Group, announced on Wednesday its agreement to sell approximately 16.5% interest in Malaysian lender AMMB Holdings (AmBank) for a substantial AU$443.69 million.

Financial Impact

ANZ Group clarified that the proceeds from this sale will have a tangible financial impact, increasing its Common Equity Tier 1 (CET1) ratio by 16 basis points.

Stellar Year-to-Date Performance

The year has been exceptionally favorable for ANZ Group shareholders. As of the last close, the stock has surged impressively, boasting a year-to-date increase of 13%.

In the dynamic world of financial markets, ANZ Group stands out with its robust performance, strategic decisions, and soaring stock value. As the week unfolds, investors keenly watch to see whether this upward trajectory will continue, making it a defining moment for the ANZ shares.

Read more on Kalkine Media

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.