ANZ’s Matos Faces Earnings Test One Year Into Job

As bank earnings approach, all eyes will be shifting toward ANZ, with the lender’s upcoming results on Friday a test for chief Nuno Matos’s first year of leadership. His tenure so far has been marked by a number of cost-cutting measures, with investors now looking at the next phase of his strategy to drive revenue gains.

Overnight, Australian investors are waking up to a series of market developments out of the US that are sure to drive sentiment in local trading. The Federal Reserve held rates as widely expected, with Chair Jerome Powell reaffirming his intention to remain on the Board of Governors. Tech giants including Meta, Alphabet, Microsoft, Amazon and Qualcomm also reported earnings that had mixed market reactions. - Carmeli Argana, Australian stocks reporter