Sydney, Jan 15, 2026, 17:16 AEDT — After-hours
Shares of National Australia Bank climbed 1.1% on Thursday, closing at A$42.36, recovering after a weak stretch for Australian bank stocks earlier this week. 1
Movements in NAB and its counterparts remain crucial, with the “big four” banks still carrying much of the weight in local portfolios. This holds true even as investors pile into miners amid a metals rally and weigh the chances of another Australian rate hike.
Policy remains the key near-term driver. Traders are closely eyeing inflation data alongside the Reserve Bank of Australia’s upcoming move. The market is still sorting out if banks are priced for a “higher for longer” scenario or a pause that sticks.
Australia’s S&P/ASX 200 ended 0.5% up at 8,861.70, marking its highest close since Nov. 3. Miners hit a record high for the third session running, while financials climbed 0.5%. The four major banks advanced between 0.4% and 2.6%. “Valuation fatigue in banks and strong tailwinds for miners are prompting a rotational positioning into the latter,” said Marc Jocum, senior product and investment strategist at Global X ETFs Australia. 2
On Thursday, NAB’s shares fluctuated between A$41.75 and A$42.40, following a previous close at A$41.91. 3
The day before, the mood turned sour. Financial stocks dropped 0.5% on Wednesday, with NAB, Commonwealth Bank, and Westpac each losing between 0.1% and 0.4% after a brief two-day rally. The setback followed a Wall Street slump in financials, which weighed on global bank sentiment. 4
January’s seen this tug of war play out. Investors snap up banks during dips, yet funds consistently flow into miners and other cyclicals, keeping bank gains uneven despite a steadier broader index.
The trade can flip fast. A softer inflation report could dampen rate-hike chatter and weigh on bank shares, while a hotter number might boost margin expectations but also stir concerns over loan demand and rising bad debts.
Australia’s December quarter CPI is set for release on Jan. 28 at 11:30am AEDT, just days before the RBA meets on Feb. 2–3. Those dates are already marked on calendars.
NAB holders will be watching closely for the bank’s first-quarter trading update on Feb. 18. Investors want to see how net interest margin — the difference between earnings on loans and costs on deposits — is holding up amid rising competition.
