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Chanticleer

What's behind the bank rally

The three forces driving the stunning rally in bank shares over the past few days speak to a change in the mood of local investors.  

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Talk about winning friends and influencing people.

National Australia Bank chief executive Ross McEwan’s decision to more than double the size of the bank’s share purchase plan (SPP) from $500 million to $1.25 billion will make 150,000 mum and dad shareholders both relieved and happy.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/what-s-behind-the-bank-rally-20200527-p54wzt