MQG

Worldwide diversified financial service provider Macquarie (MQG) has defended its decision to put a halt on granting options to the most senior bankers of the company. As a part of the new package, these bankers will be provided with more tax-effective ordinary shares.

The worldwide diversified financial service provider Macquarie Group (MQG) has faced renewed pressure in the value of its holdings in debt-laden infrastructure funds after it saw the sale of a stake in one of the company’s flagship European funds with almost 15 percent discount to the valuation which was conducted just a few months earlier.

The Australian financial service provider Macquarie Group’s (MQG) chances of cutting a lucrative deal while exiting from the Macquarie Airports (MAP) managements took a hit as the Risk Metrics appeared strong against the agreement as it appears there is not much of assurance that debt costs will not shoot high.

Macquarie Group (MQG) has revealed that the company’s profit for the fiscal year 2009 would be down to $900 million. Macquarie said in an operational update on Thursday that it saw an after-tax profit of about $900 million for the year to March 31, compared with $1.8 billion in its fiscal 2008.

Macquarie Group (MQG) announced a solid start for the current fiscal year; however, it cautioned that it would be difficult to repeat last year's performance owing to the ongoing credit crisis round the globe. The market gave a sigh of relief on firm's sound footings and the same reflected in its share prices as well.

Babcock & Brown Power (BBP) was the overall worst performing stock taking in a 41.58 percent decrease. It was a mixture of funds and asset management, financial services, property investment, power, and nickel sulphide production companies who were among the worst performing stocks for the week 21 of 2008 on the Australian sharemarket: Babcock & Brown (BNB), Macquarie Group (MQG), Valad Property (VPG), Babcock & Brown Power (BBP), Sally Malay (SMY). The worst performing stocks for the week 21 recorded losses above 10.95 percent by the end of the trading week.