Business
Texas deep freeze puts Macquarie profit on front burner – Sydney Morning Herald
Macquarie has flagged a major profit upgrade after energy price spikes caused by devastating winter storms in Texas led to a revenue surge in one of its businesses….
Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquaries capabilities in maintaining critical physical supply across the commodity complex and particularly in relation to gas and power, Macquarie said in an ASX statement.
Shares in the investment banking group jumped 3.4 per cent on Monday to $147.15, as analysts upgraded their profit forecasts after the sudden upgrade.
Velocity Trade analyst Brett Le Mesurier said the extent of the…
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