Macquarie Group Shares Drop, Dragging Down ASX
The Australian share market closed lower on Friday, marking its second straight weekly decline. The S&P/ASX 200 Index slipped 0.7% to 8,769.7 points.
Macquarie Group Earnings Disappoint
Shares in Macquarie Group fell 5.7% to $204.77 after reporting a half-year net profit of $1.7 billion for the six months ending September 30. This result was 10.4% below analyst expectations, according to UBS.
Tesla Annual Meeting Highlights CEO Compensation
Meanwhile, Tesla held its annual general meeting in Texas where shareholders approved the highest-ever CEO compensation package for Elon Musk.
This blog is not intended as investment advice. Prices current around 4.35pm AEDT.
Live updates on major ASX indices concluded for the day. Happy Friday.
Author's Summary
The ASX faced its second straight weekly decline, with Macquarie shares falling sharply after weaker-than-expected earnings, while Tesla's CEO received record compensation.
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