Categories
Make Money From Home

Australian bank Macquarie’s Q1 profit climbs in a softening market – Reuters

<p data-testid="primary-image-caption" id="primary-image-caption" class="text__text__1FZLe text__medium-grey__3A_RT text__regular__2N1Xr text__small__1kGq2 body__base__22dCE body__caption__3L8vY article-body__primary-image-caption__WHV…….

The logo of Australia’s biggest investment bank Macquarie Group Ltd adorns a desk in the reception area of its Sydney office headquarters in Australia, Oct. 28, 2016. REUTERS/David Gray

Register now for FREE unlimited access to Reuters.com

July 28 (Reuters) – Australian investment bank Macquarie Group (MQG.AX) flagged a higher quarterly profit on Thursday and said all its business units felt the headwinds of inflation and market volatility but its diversified structure would still bring opportunities.

Macquarie did not give first-quarter profit numbers and said trading conditions had deteriorated but its exposure to volatile energy markets and unlisted infrastructure – which came with built-in “inflation protection” – may create a buffer.

Investors cheered the bank’s resilience, sending its shares higher.

Register now for FREE unlimited access to Reuters.com

The limited trading update that did not include forecasts and came ahead of its annual meeting later in the day underscores Macquarie’s record of defying economic turbulence with a diversified global operation that enables it to …….

Source: https://www.reuters.com/business/finance/australian-bank-macquaries-q1-profit-climbs-softening-market-2022-07-28/

Leave a Reply

Your email address will not be published.