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SHARES IN AUSTRALIA'S MACQUARIE FALL AFTER PROFIT FORECAST.
SYDNEY, Feb 1 Asia Pulse - Shares in Macquarie Bank Ltd (ASX:MBL) sank as much as seven per cent after it failed to meet market expectations for its full year guidance.
Australia's biggest investment bank today forecast that its net profit for the year to March 31, 2006, would be "slightly up" on the previous year's record $A823 million ($US623.18 million).
Macquarie had previously forecast that the annual result would match last year's record figure.
However investors had been anticipating an even stronger outlook, and were disappointed by revelations that most divisions will report lower results in the second half than they did in the first.
Macquarie ...
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