Sydney, June 21, 2026, 23:04 (AEST)
- Macquarie shares finished at A$249.82 on Friday, falling 1.17% for the session. The stock still gained around 3.0% for the week.
- The shares climbed more than Commonwealth Bank, which added about 1.8% for the week. The move fell just short of NAB’s 3.4% gain, but topped the S&P/ASX 200’s 0.28% rise.
- Investors are watching for Australian inflation and jobs numbers this week that may move rate bets, after the central bank held the cash rate at 4.35%.
Macquarie Group ended June 19 at A$249.82, down from its intra-day peak of A$253.15. The stock had climbed to A$254.31 last Thursday, but then gave up some ground after a four-day run.
The move is key as investors weigh if Macquarie’s earnings jump can hold up when commodity markets cool. Staying close to A$250 shows investors aren’t dismissing the big second half as a fluke, but that price level means there’s little cover if the company puts out a soft trading update.
Macquarie ended the week ahead of Commonwealth Bank among local financials, though it lagged National Australia Bank. The ASX 200 finished the week up just 0.28%, limited by a 0.92% drop on Friday. Macquarie’s relative strength over the week held up, even with some late weakness.
Rates are still the big variable in the market. The Reserve Bank of Australia kept the cash rate at 4.35% on Tuesday, with Governor Michele Bullock saying “inflation remains too high.” That keeps rates up by 75 basis points this year. Bullock said the decision doesn’t take more hikes off the table. Reserve Bank of Australia
Investors get May CPI numbers on Wednesday and jobs data on Thursday. The consumer price index tracks household price changes. RBA Deputy Governor Andrew Hauser is set to speak Wednesday, offering another signal on the central bank’s stance on inflation.
Macquarie posted a full-year net profit of A$4.85 billion in May, a 30% jump. Profit in its Commodities and Global Markets unit surged 49% to A$4.22 billion. Client hedging and trading in volatile oil, gas and power markets boosted results. Still, division boss Simon Wright said, “prolonged volatility does tend to lead to more subdued client appetite.” Reuters
But there’s still a downside. Some of the yearly rise was due to the sale of the OnStream smart-meter platform, and commodity trading got a boost from disruptions that might not happen again. Reuters Breakingviews said the key question is whether the company can match its second-half return without an asset sale or the kind of volatility seen during the conflict.
Shareholders will get the A$4.20 final dividend on July 2. No new financial numbers are due until November 6, so the stock will likely move on economic data, global markets, or deal news until then.
Macquarie CEO Shemara Wikramanayake said the group is “well-positioned to deliver superior performance in the medium term,” citing diverse income streams and the balance sheet. The stock has mostly followed that line. The next week will be key. Lower inflation could lift valuations, but that would need to come with enough volatility to support client trading and hedging. Macquarie
