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July 27 (Reuters) - Australian investment bank Macquarie Group (MQG) on Thursday flagged a lower quarterly profit as contributions from its asset management as well as banking and financial services fell.
Macquarie, which did not disclose profit figures in the quarterly update, said low investment-related income from green energy at its asset management arm weighed on earnings.
Weak performance at its commodities and global markets unit, its biggest earner, was due to reduced trading activity across gas and power.
Commodities income, however, is expected to be in line with fiscal 2022 as volatility in gas and energy markets may create opportunities.
The investment bank flagged that trading activity in Macquarie Capital is expected to be up despite a challenging 2023.
News: MQG UPDATE 1-Macquarie flags lower profit on weak green energy investments
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Last
$226.17 |
Change
2.180(0.97%) |
Mkt cap ! $86.20B | |||
| Open | High | Low | Value | Volume |
| $224.14 | $226.74 | $223.87 | $118.7M | 526.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6 | $226.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $226.30 | 100 | 1 |
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| Last trade - 16.10pm 16/09/2025 (20 minute delay) ? |
| MQG (ASX) Chart |