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Additional information
Additional Information
Market: ASX
Sector: Banks
Epic: MQG
News: Latest news
Web Site: Macquarie Group
Other Articles: 25-05-200901-05-200905-02-2009

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Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Macquarie Group

Macquarie Group

Macquarie Group provides specialist investment advisory and financial services in select markets around the world.

Friday, May 01, 2009

Macquarie Group profit falls 52%

Macquarie Group Ltd (ASX:MQG) has posted a fall in after-tax profit to $871 million, down from $1.8 million, and the first fall in net profit since the last recession 17 years ago.

The result was slightly below the market's expectation of around $880 million and previous guidance of $900 million.

Macquarie is "said to be aiming to issue 40 million new shares to investors at around $30 a share, a 10% discount to its closing price of $33.48 last night when the stock was placed in a trading halt".

Chief Executive Nicholas Moore said that, despite the world markets showing signs of easing, it was still too early to call a recovery.

“The markets are still challenging, we are still not at normal levels,” Mr Moore said.

“We are making a call that there is a fundamental shift in sentiment. Things have improved and the pipelines are looking better across the business,” he said.

“We have experienced over 18 months very volatile markets and we are not calling the end to that volatility.”

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