ANZ Gets A Lift From H1 Results

ANZ posted a 4.1% rise in its half-year cash profit to $3.49 billion, boosted in part by a fall in its credit-impairment charge following the sale of a range of assets.

The bank held its H1 dividend unchanged at 80 cents per share as its impairment charges fell to $408 million from $720 million a year ago.

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However, ANZ warned last week of a $620 million loss from the previously announced sale of a pensions and life insurance unit, as well as, a further $80 million in restructuring charges, some of which are related to the banking royal commission legal fees.

The technical picture for ANZ remains soft with daily chart resistance seen in the $27.40 area. 



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