Banking wrap - October 10

Last week (ending Wednesday) the big five banks outperformed the index on average by 4.2 per cent to 2.8 per cent, having underperformed the index through most of the credit crunch period. This week saw a follow through, with the banks improving by 2.8 per cent against the index's 1.2 per cent. Performances ranged between 1.6 per cent from Commonwealth to 4.7 per cent from St George. Macquarie Bank and Babcock & Brown both added about 10 per cent.

Relative movements for the week ending 10 October 2007:

St George +4.70 per cent
ANZ +2.86 per cent
Westpac +2.66 per cent
National  +2.15 per cent
CommBank  +1.57 per cent
ASX 200 +1.17 per cent