Macquarie Group Shares Drop, Impacting ASX
The Australian share market closed lower on Friday, marking its second week of declines. The S&P/ASX 200 Index fell 0.7% to 8,769.7 points.
Macquarie's Earnings Disappoint
Shares in Macquarie dropped 5.7% to $204.77 after the company reported a half-year net profit of $1.7 billion for the six months ending September 30. This result missed analyst forecasts by 10.4%, according to UBS.
Tesla's AGM Highlights
Tesla held its annual general meeting in Texas, where shareholders approved the largest CEO compensation package ever for Elon Musk.
Disclaimer: This blog is not intended as investment advice. Prices are current around 4.35pm AEDT.
That's all for today. Happy Friday.
Author's summary: Macquarie's weaker earnings caused a notable drop in its shares, contributing to the ASX's second straight week of losses, while Tesla approved record CEO pay.