One of the fastest rallies for Australian banks in six years is prompting fund managers to stop and catch their breath. Randal Jenneke of T. Rowe Price is pausing after moving overweight in the banking sector before the U.S. elections.
Category: Australia and New Zealand Banking Group
ANZ Sells Shanghai Bank Stake in Unwinding of Asia Expansion
Australia & New Zealand Banking Corp. agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank Co. for A$1.84 billion , Chief Executive Officer Shayne Elliott’s latest move to unwind an Asian expansion that sapped profits.