source: ABN AMRO of TODAY, please DYOR, thx
please comapre opinions of ABN with citi
Macquarie Group (MQGWZF) – 1H09 result preview
MQG reports its 1H09 result tomorrow. ABN AMRO research is forecasting a decline in NPAT of 41% to
A$620m due to A$519m of pre-tax writedowns. The underlying result is likely to be driven by strength in
trading, but countered by weakness in M&A and ECM. Technical support is at $20. Play upside into the result
through MQGWZF or downside through MQGWZR
Source: IRESS
Asset writedowns
Unrealised losses for MQG’s investments in its real estate funds are now A$416m while they are as high as
A$707m for investments in infrastructure funds. Given NAVs have held up reasonably well, particularly in
infrastructure, we believe that writedowns will be more moderate at A$319m, which includes writedowns on
some oil & gas investments. With the Italian mortgage portfolio contributing an additional A$200m (pre tax),
ABN AMRO forecast total writedowns in 1H09 of A$519m.
Forecasts
We anticipate weakness in traditional investment banking activities such as M&A and ECM. Overall ABN
AMRO research forecast NPAT to fall 20% in FY09 to A$1,434m, but 41% in 1H09 to A$620m due to write-offs
being weighted to the first half.
The result should provide the market with more comfort around the outlook for MQG. Support is at $20
technically. Play upside into the result through MQGWZF or downside through MQGWZR
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result preview by abn amro of today
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Last
$199.70 |
Change
1.800(0.91%) |
Mkt cap ! $76.51B |
Open | High | Low | Value | Volume |
$199.58 | $200.25 | $199.17 | $116.4M | 583.2K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 4 | $199.60 |
Sellers (Offers)
Price($) | Vol. | No. |
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$199.80 | 40 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 4 | 199.600 |
1 | 15 | 199.340 |
1 | 5 | 198.100 |
1 | 6 | 198.000 |
1 | 10 | 197.900 |
Price($) | Vol. | No. |
---|---|---|
199.800 | 40 | 1 |
199.900 | 1000 | 1 |
199.940 | 50 | 1 |
199.950 | 161 | 1 |
199.990 | 100 | 1 |
Last trade - 16.10pm 29/03/2024 (20 minute delay) ? |
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Last
$199.71 |
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Change
1.800 ( 0.84 %) |
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Open | High | Low | Volume | ||
$199.68 | $200.25 | $199.18 | 15235 | ||
Last updated 15.59pm 29/03/2024 ? |
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