Sydney, June 9, 2026, 04:01 AEST
Macquarie Group shares remain priced at Friday’s close going into Tuesday, as the Australian Securities Exchange was shut Monday for the King’s Birthday. The ASX cash market hasn’t started normal trading for the week, with its main session—where buy and sell orders get matched—set from around 09:59:45 to 16:00 in Sydney.
Macquarie shares started trading Tuesday with a backlog after being closed as several news items broke. Reports on a commodities deal, involvement in a big U.S. IPO, and questions about audit links all hit during the long weekend. The first trades on Tuesday had to catch up.
Macquarie finished Friday at A$236.42, slipping 0.02%, according to Reuters data. Shares are down about 0.9% from last Friday’s close. The S&P/ASX 200 index closed down 0.7% at 8,625.10, with banks and miners dragging on the market.
Cargill is in talks to sell its metals business to Macquarie, Reuters reported, citing five people with knowledge of the matter. The report said the talks may not lead to a deal. Macquarie would not comment, and Reuters said Cargill did not respond to requests for comment. According to Reuters, the unit is based in Singapore and handles iron ore and steel.
Macquarie feels this directly. Commodities and Global Markets, the company’s trading and financing unit, can see its earnings climb when clients turn to hedging bets to offset price swings in unsettled markets.
IPO mandate talk is making the rounds. According to The Australian, Goldman Sachs and Morgan Stanley are out in front on SpaceX’s planned IPO, while Macquarie landed the coordinator role for Australia. An initial public offering, or IPO, is when a company sells shares to the public for the first time.
Macquarie’s May numbers are still the frame here. The group posted FY26 net profit of A$4.85 billion, a 30% gain. Commodities and Global Markets division pushed profit contribution up 49%, hitting A$4.22 billion. CEO Shemara Wikramanayake said every business used “specialist expertise.” Macquarie is “well-positioned” for the medium term, she said. Macquarie
Rates are still pushing and pulling on markets. David Doyle, Macquarie Group’s head of economics, said in a note quoted by InvestmentNews, “We see the next move as a hike” in 1Q27. Macquarie’s global FX and rates strategist Thierry Wizman said “good” economic news can push up real rates, hitting stock-market multiples—the price paid for a dollar of earnings. InvestmentNews
Stocks steadied before Sydney opened. Wall Street’s big indexes were higher on Monday as chip stocks bounced and some traders saw less heat in Middle East headlines. Adam Sarhan, CEO at 50 Park Investments, said AI and tech were still the strongest parts of the market, though he warned bigger losses could signal a “meaningful shift” in mood. Reuters
But there are clear risks. Cargill talks could fall through, a softer commodity market might make last year’s trading gains tough to match again, and governance issues may stick around. The Australian said KPMG’s audit ties with Macquarie and Westpac are set for scrutiny in a parliamentary hearing on June 19. Macquarie’s plan to put KPMG in as auditor still needs shareholder sign-off.
Macquarie faces an early test this week. Investors will be watching if the stock can keep Friday’s A$236.42 close, weighing deal potential against rate and governance risks. If shares push above that level, it signals buyers are still backing growth in commodities and advisory. If the open is soft, the market looks to want proof rather than just headlines.
