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ANZ posts $7.3 billion profit as Wall Street rallies on AI stocks

ANZ posted a $7.3 billion full-year profit, though its share price dropped alongside other major banks.

Updated 2 min read

Published by Agyata NewsroomEditorial policyCorrections

Key points

  • ANZ posted a full-year profit of $7.3 billion.
  • The bank's share price dropped despite beating profit expectations.
  • The ASX 200 index recovered earlier losses to close higher.

Why it matters. The story highlights a divergence between reported corporate profits and market valuations for major banks, while economic data suggests household financial stress from interest rates may be less severe than historical precedents.

Updated Sources: ABC (Australian Broadcasting Corporation), Wikipedia: Wall Street, The Age, SMH.com.au

ANZ reported a full-year profit of $7.3 billion, exceeding market expectations. Despite this positive result, the bank's share price fell alongside other major financial institutions. The Australian Securities Exchange recovered earlier losses to finish higher, aided by a surge in mining stocks. CBA economist Ashwin Clarke noted that the direct impact of recent interest rate hikes on households is lower than in previous cycles.

Latest updates

ANZ posts $7.3 billion profit as Wall Street rallies on AI stocks

ANZ has announced a full-year profit of $7.3 billion, a figure that exceeded market expectations despite a recent drop in its share price alongside other major banks. Meanwhile, Wall Street closed the week positively, driven by renewed buying of AI-related stocks. The Australian Securities Exchange (ASX) also recovered earlier losses to finish higher, supported by a surge in mining stocks. These market movements were tracked by ABC News reporters on November 8, 2026, as investors reacted to the latest financial data.

ABC (Australian Broadcasting Corporation)Wikipedia: Wall Street

Westpac posts $6.8 billion profit, expects 11 per cent house price fall

Australia's oldest bank, Westpac, reported a $6.8 billion profit for the year to September, down 1 per cent from the previous year. It expects house prices nationally to fall 10.9 per cent between March 2026 and March 2027, and it expects interest rates to stay elevated into 2027. The forecast comes ahead of the Reserve Bank of Australia's meeting on Tuesday, where the bank is widely tipped to raise rates for the fifth time this year. Westpac's net interest margin fell to 1.86 per cent in the second half, as lending competition stayed strong and more savers qualified for bonus rates. Its credit impairment provisions rose to $5.2 billion, with the bank citing economic and geopolitical uncertainty, although the share of mortgage balances in hardship stayed low at 0.6 per cent. Westpac will pay a final dividend of 77 cents a share, and its shares rose 1 per cent after the results.

The AgeSMH.com.auAFRThe AustralianThe Canberra Timestheage.com.auThe Weekly Timesozbrief.com.auinternationly.com

Sources

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