How Macquarie may get Trumped by the new world order
A peace deal in Ukraine and a surge in US energy production could be bad news for one of the Australian investment bank’s key profit engines. Here’s why.
While the fall in Commonwealth Bank’s share price over the past four weeks is capturing the attention of ASX investors – it’s now down 11.4 per cent from its record high on February 13 – it’s hardly the only banking giant under pressure.
National Australia Bank’s down more than 17 per cent over the same period, Westpac has lost 12.4 per cent and the fifth major, Macquarie, has quietly shed 12.2 per cent.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
