Australian Share Market Declines Again
The Australian share market closed lower on Friday, marking its second consecutive weekly decline. The S&P/ASX 200 Index dropped 0.7% to 8,769.7 points.
Macquarie Group Shares Plunge
Shares of Macquarie Group fell 5.7% to $204.77 following a disappointing earnings report. The company announced a half-year net profit of $1.7 billion for the six months ending September 30, which was 10.4% below analyst expectations, according to UBS.
Tesla's AGM and CEO Compensation
Meanwhile, Tesla held its annual general meeting in Texas, where shareholders approved the highest-ever CEO compensation package for Elon Musk.
This blog is not intended as investment advice.
Prices current around 4.35pm AEDT.
That's all for today. Happy Friday!
Summary
Australian shares fell for a second week, driven by Macquarie's earnings shortfall, while Tesla approved record CEO pay for Elon Musk.