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    MQG   AU000000MQG1

MACQUARIE GROUP LIMITED

(MQG)
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Australia shares fall as commodities slump hits gold, miners

09/07/2021 | 09:05pm EDT

Sept 8 (Reuters) - Australian shares fell on Wednesday, dented by heavyweights mining and gold sectors after most commodity prices took a hit on demand crunch as the greenback strengthened.

The benchmark ASX 200 index was down 0.4% at 7497.40 points, as of 0034 GMT.

Gold prices were set for their biggest intraday drop in a month, as a buoyant dollar and higher yields took the shine off the metal, while concerns about weak demand in the United States and Asia pressured oil to drop 1.4%.

On the pandemic front, new COVID-19 cases fell for a third straight day in Sydney, with authorities vaccinating the country's citizens at a rapid pace.

Miners lost nearly 1% as copper prices hit their lowest in five months.

Global miners Rio Tinto and BHP Group fell 0.3% and 1%, respectively.

Australian gold stocks shed the most, losing 2.5% to hit their lowest level since Aug. 27, with Dacian Gold Ltd down 4.4% to be the top loser in the sub-index.

The energy index followed course, declining 0.9%, with coal miner Whitehaven Coal Ltd as the worst performer.

Banking stocks were the only sector in positive territory as they added 0.5% to mark their highest level in three weeks.

The sub-index was lifted by Macquarie Group Ltd, which hit a record high despite forecasting "slightly" lower first-half results, compared with the second half of fiscal 2021.

The "Big Four" banks, however, traded in the red.

New Zealand's benchmark NZX 50 index fell 0.5% to 13,262.66 points.

Dairy firm Synlait Milk was top loser on the bourse after it announced it was discussing a proposal to cut its headcount by 15% with its staff and union representatives.

In other markets, Japan's Nikkei was up 0.2%, while the S&P E-mini futures were down 0.02%. (Reporting by Yamini C S in Bengaluru; Editing by Sherry Jacob-Phillips)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -2.16% 37.65 End-of-day quote.-11.27%
DACIAN GOLD LIMITED -4.26% 0.225 End-of-day quote.-45.12%
MACQUARIE GROUP LIMITED 0.62% 199.06 End-of-day quote.43.75%
SYNLAIT MILK LIMITED 0.00% 3.8 End-of-day quote.-27.34%
WHITEHAVEN COAL LIMITED -3.02% 2.89 End-of-day quote.75.68%
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Analyst Recommendations on MACQUARIE GROUP LIMITED
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Financials
Sales 2022 13 954 M 10 415 M 10 415 M
Net income 2022 3 444 M 2 570 M 2 570 M
Net Debt 2022 69 344 M 51 758 M 51 758 M
P/E ratio 2022 22,1x
Yield 2022 2,78%
Capitalization 70 423 M 52 618 M 52 564 M
EV / Sales 2022 10,0x
EV / Sales 2023 12,2x
Nbr of Employees 16 459
Free-Float 92,6%
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Technical analysis trends MACQUARIE GROUP LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 199,06 AUD
Average target price 185,35 AUD
Spread / Average Target -6,89%
EPS Revisions
Managers and Directors
Shemara Wikramanayake Chief Executive Officer, MD & Executive Director
Alex H. Harvey CFO & Head-Financial Management Group
Peter Hastings Warne Independent Chairman
Nicole Sorbara COO & Head-Corporate Operations Group
Diane Jennifer Grady Independent Non-Executive Director
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