Macquarie upgrades again

We're not yet half way into its 2016 financial year, but the iconic investment bank has upgraded earnings guidance for a second time.

As you’d expect from the country’s pre-eminent investment bank, it has the smoke-and-mirrors game of giving earnings guidance down pat. At the 2015 result in May we were told to expect 2016 net profit to be ‘slightly up’ on the $1,604m recorded in 2015, and at the annual meeting in July this was raised to a plain ‘up’.

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