Aussie banks under pressure

SYDNEY: Shares in Australia’s top banks came under pressure yesterday after a report put their exposure to the United States sub-prime crisis at A$1 billion (US$884 million).
Shares in the big banks – ANZ, Westpac, National Australia Bank and Commonwealth Bank – all fell in reaction to the report in The Australian newspaper, although Commonwealth Bank reversed its losses in late trade to close marginally up.
The newspaper said that the four banks were part of a global syndicate of 40 banks that lent troubled US mortgage group Countrywide Financial US$11.5 billion last year.
At the close, ANZ had lost A$0.24 to A$26.11, National Australia Bank fell A$0.27 to A$35.32 and Westpac lost A$0.36 to A$26.60.
Commonwealth Bank bucked the trend and gained A$0.11 to A$56.95. – AFP