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Macquarie (MQBKY) Slips On Poor Outlook
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Posted on 02/09/10 at 10:20am by Ed Liston
Macquarie Group’s (OTC: MQBKY) shares slipped 7% on a weak outlook, and concerns over the performance of its equity capital markets business.
Macquarie, which is known for high pay packets, forecast that its second half profits could be in line with popular consensus of $926 million for the year ending March. However, Reuters reports that investors were disappointed by the many disclaimers Macquarie attached to the outlook and projections.
The bank’s shares closed at a low of A$47.28, given the profits announced by peers AXA Asia Pacific (PINK: AXAPY) and Commonwealth Bank of Australia. The bank also declined to comment on speculated bids for Royal Bank of Scotland (ADR) (NYSE: RBS) and Sempra Energy (NYSE: SRE).
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