Sydney, June 9, 2026, 18:21 AEST
- NAB shares finished at A$35.96, down 1.72%. The stock fell as low as A$35.48 during the session, marking its listed 52-week low.
- NAB’s May business survey showed confidence stayed in negative territory. Cost pressures kept easing.
- ASX 200 slipped 0.24%. Financials ended flat, while materials weighed on the index.
National Australia Bank shares slipped on Tuesday, lagging behind other major lenders. Investors sold the stock after a soft business update and the bank adjusted its rate outlook again.
Shares finished at A$35.96, sliding 1.72% after hitting a low of A$35.48. Commonwealth Bank dropped 0.26%, Westpac eased 0.29%. ANZ closed up 0.44%, according to Google Finance.
The move is important for the bank since its earnings depend on credit growth, business demand and net interest margin, or the spread between what it makes on loans and what it pays for deposits and funding. Lower rates can boost loan demand but also raise the risk of bad debts and tighten margins if the economy slows.
ASX regular trading had finished before the dateline. Continuous trading lasts until 16:00 Sydney time, with final prices set in a closing auction that takes place from 16:10 to 16:11, based on ASX trading rules.
ASX trading picked up after the King’s Birthday holiday, with the S&P/ASX 200 ending down 20.9 points, or 0.24%, at 8,604.2. Financials barely moved, but materials slid 2.32%.
Business confidence at NAB improved in its May Monthly Business Survey, with the index up 10 points but still at minus 14. Business conditions stayed at 3 index points, under the long-term average. Capacity utilisation dropped to 81.9%.
NAB’s head of Australian economics Gareth Spence said confidence has “lifted off a very low base” but remains “still weak.” Andrew Auerbach, who runs business and private banking for NAB, said customers keep telling the bank “conditions are tough and cost pressures are real.” NAB News
Australia’s business survey showed cost pressures are easing, Reuters said, but costs remain high compared to history. NAB economist Michael Hayes noted the profitability part of the survey points to “margin pressures persist.” Investors watching the bank stock near its lows are not likely to look past that. Reuters
NAB’s chief economist Sally Auld now expects the Reserve Bank of Australia’s next move on the cash rate to be down, but says the timing is unclear. NAB has scrapped its forecast for an RBA hike in August and predicts the cash rate will finish 2027 at 3.6%.
NAB said its interim dividend is due for payment on July 2. The bank also flagged Aug. 17 as the date for its third-quarter trading update.
NAB holders face the risk that rate cuts may not come fast enough. The bank still sees core inflation above target through mid-2027, and its latest survey showed business confidence negative in all industries. If inflation does not fall or weak confidence hits hiring and investment, any boost from lower rates might not be enough to balance slower lending growth or margin pressure.
