by Chris Becker
Its been a nice morning for bank stocks, sans CBA with its heavily dilutive $5.1 billion raising kicking it down 1% or so in early trade. But for the remaining three pillars of Megabank, all are lifting on news Macquarie (MQG) is expecting a whopping 40% lift in profit:
Continuing Australian dollar weakness and improved trading conditions across the company’s business arms would drive the increase in the fiscal 2016 first half, compared with the year-earlier period, the investment bank today. Analysts have forecast a 30 per cent increase.