WES – WESFARMERS – up $2.88, or 7.0 per cent, at $43.80
Wesfarmers plans to spin off supermarket giant Coles and retain a 20 per cent stake in a business that will rank among the 30 biggest on the Australian stock market.
NCM – NEWCREST MINING – down $1.86, or 8.6 per cent, at $19.73
Newcrest was this week forced to halt production at its biggest mine, Cadia, south of Orange in NSW, after a breach in a tailings dam.
ANZ – ANZ BANKING GROUP – down 40 cents, or 1.4 per cent, at $28.03
CBA – COMMONWEALTH BANK – down $1.53, or 2.0 per cent, at $75.34
NAB – NATIONAL AUSTRALIA BANK – down 78 cents, or 2.6 per cent, at $29.51
WBC – WESTPAC BANKING CORP – down 57 cents, or 1.9 per cent, at $29.52
The Royal Commission into the financial services sector began on Tuesday and the consumer watchdog on Thursday reported “signs of less-than-vigorous price competition” on mortgages between the big four banks, in a tough week for the big four.
SMP – SMARTPAY – up 7.5 cents, or 50 per cent, at 22.5 cents.
Shares in Smartpay took off when the payment provider announced a deal on Tuesday with China’s largest online and mobile payments provider, Alipay, permitting the Jack Ma-owned giant’s 450 million mobile wallet users to pay through Smartpay eftpos terminals in Australia and New Zealand .