(Rewrites throughout with details) July 25 (Reuters) -...

(Rewrites throughout with details)

July 25 (Reuters) - Macquarie Group (MQG) said on Thursday its commodities and global markets' first-quarter performance was up from last year, driven by improved trading activity in North American gas, power and emissions markets as well as strong results in the agriculture and resources sectors.

The top Australian investment bank, however, said combined net profit contribution from its market facing businesses for the quarter ended June 30 fell from last year, primarily due to timing of asset realisations in Macquarie Capital.

The Sydney-based firm continues to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions it well to respond to the current environment.

It, however, remains "well-positioned to deliver superior performance in the medium term due to its diverse business mix across annuity-style and markets-facing businesses," the company said.

Macquarie, which did not disclose profit figures in the quarterly update, said its first-quarter operating group contribution was broadly in line with last year.

Its annuity-style businesses' combined quarterly contribution was also broadly in line during the quarter, the firm said, driven by volume growth, lower operating expenses and lower credit impairment charges in banking and financial services.

Macquarie Asset Management oversaw A$915.00 billion ($602.07 billion) worth of assets as at June-end, down 2% from March-end, it said.

($1 = 1.5198 Australian dollars)