Global markets were lower overnight as worries that the United States and China may not be able to strike a trade deal overshadowed strong earnings reports from Apple and Facebook.
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Stock in Focus: ANZ Bank (ANZ:NZX / ANZ:ASX)
ANZ shares took a hit yesterday on the back of weaker than expected full year earnings.
ANZ delivered a cash profit from continuing operations of $6.47 billion. This was flat on the prior corresponding period and fell short of the market’s expectations. Margin decline from lower rates was higher than expected, and regulatory costs remain elevated, while customers are also paying-down of mortgage debt under lower rates.
ANZ...