Sydney, June 17, 2026, 04:02 (AEST)
- Macquarie Group closed up 0.73% at A$249.06, pausing below its 52-week high of A$249.49. Intelligent Investor
- ASX 200 edged up after the RBA kept the cash rate at 4.35%. ABC News
- Investors are watching two items—first, the July dividend. Second, they’re waiting for any regulator news on the Qube deal, where Macquarie Asset Management is leading. Macquarie
Macquarie Group shares closed at A$249.06 on Tuesday, gaining A$1.81, or 0.73%. They’re now up 5.35% over the last week. Macquarie is trading just shy of its 52-week high at A$249.49, extending a run for Australian financials. The ASX 200 recovered from earlier losses and finished up 0.04% at 8,917. The Reserve Bank of Australia kept rates steady. Intelligent Investor
Macquarie runs banking, asset management, commodities trading, and deals, so the RBA rate decision moves the needle. Higher rates can boost lending income but slow credit demand and keep asset prices in check. Hard to hold up equity values in this climate. The RBA held the cash rate steady at 4.35%. Board members said inflation was “still too high” and didn’t rule out raising rates again. That takes some wind out of financial stocks, despite the gains on Tuesday. Reserve Bank of Australia
Macquarie’s earnings are still pulling in investors. In May, the bank posted FY26 net profit of A$4.85 billion, a 30% rise. EPS was A$12.77. Return on equity came in at 14.0%. Commodities and Global Markets did most of the heavy lifting, with profit up 49% on higher asset finance and more client hedging in gas, power and oil. Macquarie declared a final dividend of A$4.20, 35% franked, to be paid July 2. Franked dividends give tax credits to eligible Australian holders.
Macquarie Asset Management is in the news again after Qube Holdings announced shareholders approved the Macquarie-led acquisition. 98.11% backed the scheme at the meeting and 86.72% of shareholders voted for the deal. Qube noted the plan still needs green lights from the ACCC, FIRB, and New Zealand Overseas Investment Office. A court hearing is scheduled for July 7. Macquarie’s A$5.20-a-share bid values Qube at A$11.7 billion. Macquarie investors aren’t looking for a quick gain to earnings—it’s about whether the asset management arm can keep putting capital into infrastructure.
Macquarie’s bull case comes down to its earnings, the capital buffer, and its global footprint. The group’s bank Level 2 CET1 ratio was 12.8% at March 31, topping the minimum. But bears flag valuation and macro risks. Shares last traded at A$249.06, close to their 52-week peak, with a P/E around 19.7. Doesn’t look cheap, especially while the RBA signals rates might rise again.
Macquarie trades at a premium now. The shares have quality, but they’re not an obvious buy at these levels. Investors are watching Qube’s regulatory steps, the July 2 dividend, and the half-year numbers due November 6. If inflation falls, that might help the valuation, but an RBA rate rise, weak deal flow, or headwinds in infrastructure could add more risk for Macquarie.
