NAB, WBC, ANZ, MQG: How are these ASX banking shares performing today?

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Highlights

  • The ASX 200 opened on a positive note on Thursday.

  • At 11:30 AM (AEST), the ASX 200 Financial sector (ASX:XFJ) was trading 0.98% higher at 6,937.40 points.


The ASX 200 opened on a positive on Thursday despite a mixed overnight finish on Wall Street. In the first 10 minutes of trading, the benchmark was trading 0.25% or 18.7 points higher at 7,587.9.

Amid the ongoing uncertainty in the global stock markets, investors expect banking shares to do well going ahead. At 11:30 AM (AEST), the ASX 200 Financial sector (ASX:XFJ) was trading 0.98% higher at 6,937.40 points.

What about interest rates?

The market expects the Reserve Bank of Australia (RBA) to increase rates as early as June. The Australian central bank may raise rates by 0.5% in a single go. The RBA has not hiked rates by over 0.25% in more than twenty years.

Westpac (ASX:WBC) predicts that the interest rate will be nearly 1.25% by the year-end, while the National Australia Bank (ASX:NAB) and Australia and New Zealand Banking Group (ASX:ANZ) have forecasted the interest rate to be 1% by 2022-end. 

On this note, let’s discuss how these four ASX banking shares are performing today:

National Australia Bank Ltd (ASX:NAB)

By 11:30 AM (AEST), the stock was trading at AU$33.51, up 0.72%. The stock is up nearly 14% on a YTD basis. In the past year, the stock has climbed nearly 28%.

Westpac Banking Corporation (ASX:WBC)

By 11:30 AM (AEST), the stock was trading at AU$24.62, up 1.07%. The stock is up nearly 14% on a YTD basis. In the past year, the stock has fallen over 1%.

Australia and New Zealand Banking Group (ASX:ANZ)

By 11:30 AM (AEST), the stock was trading at AU$28.07, up 0.57%. The stock is up 0.25% on a YTD basis, while in the past year, the stock has dropped over 1%.

Macquarie Group Ltd (ASX:MQG)

By 11:30 AM (AEST), the stock was trading at AU$208.73, up 1%. The stock is down over 1% on a YTD basis. In the past year, the stock has grown nearly 34%.

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