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National Australia Bank (NAB) $33.61

NAB +0.36%: Edged higher today on a solid quarterly trading update that was not unexpected given recent trends across the other majors. 1Q24 cash earnings of $1.8bn was ~4% ahead of consensus, offset by some cost pressures in the half (+2% on 2H23 quarterly average). Like the others, asset quality remains solid and the result briefly pushed NAB to levels not seen since 2017, above $34.00.

  • All up, a steady result that saw the stock remain supported.
MM remains long NAB across two portfolios
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National Australia Bank (NAB)
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