News: MQG UPDATE 1-Australia's Macquarie profit doubles on volatile commodities

(Adds background on commodity market, division performance)

Oct 29 (Reuters) - Australian financial conglomerate Macquarie Group (MQG) said on Friday first-half profit more than doubled to surpass its own forecast, as volatile commodity markets powered a 60% rise in the division's profit.

The Sydney-based company is also looking to raise A$1.5 billion ($1.13 billion) in a share placement, and doubled its interim dividend to A$2.72 per share.

Prices of natural gas soared in Europe and parts of Asia amid a global power crunch, boosting profit at Macquarie's commodities and markets business to A$1.73 billion.

As the second-biggest gas marketer in North America, it had earned big profits https://reut.rs/3vTMByg for fiscal 2021 after a deep freeze in Texas sent gas prices surging.

Net profit hit A$2.04 billion in the six months to September, up from A$985 million a year ago, and was slightly higher than the prior half's A$2.03 billion.

The company had earlier forecast profit slightly lower than in the second half of fiscal 2021.

($1 = 1.3259 Australian dollars)