Macquarie shares sink 5% on Q1 update

Australian banking sector's recent out-performance unsustainable say Macquarie analysts

Macquarie analysts say economic modelling implies that the particularly strong bank share market performance in 2024 was not supported by macro fundamentals, with a record deviation between the modelled and actual performance

Macquarie shares sink 5% on Q1 update

Macquarie Group Ltd (ASX: MQG) shares are catching the eye on Thursday. In morning trade, the investment bank's shares are down 5% to $214.02. Why are Macquarie shares sinking? Investors have been selling the company's shares this morning following the release of its first quarter update ahead of its annual general meeting. According to the release, Macquarie's first quarter net profit contribution was down on the prior corresponding period. It …