Business
Macquarie Group flags $300m profit hit – The Australian Financial Review
Calmer markets in the period between March and September, as trading volatility subsided following the steepest bear market on record, has dampened Macquarie’s half-year income.
Macquarie, which generates revenue from helping clients trade and strike deals when the markets are stressed, said the strong client activity earlier in the year did not continue into the latter half and was not expected to continue in the near future.
Market conditions are likely to remain challenging, especially given the significant and unprecedented uncertainty caused by the worldwide impact of COVID-19 and the uncertain speed of the global economic recovery, the investment bank said.
The …
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