Macquarie Group has announced a slight lift in performance for the first quarter of the 2013 financial year compared with the same period last year due to a stronger performance by Fixed Income, Currencies and Commodities (FICC).

 

However, the group’s securities business was down on the prior period and well down on the first quarter for 2011- 2012 due to weak market conditions resulting from European sovereign debt concerns, slowing US growth and the impact of China growth concerns.

 

Managing Director and CEO, Nicholas Moore, that if current market conditions persist for the remainder of FY13, Macquarie Securities was unlikely to be profitable for FY13.

 

“Notwithstanding weak markets MSG continues to be well regarded by its clients, being ranked number one in US and UK / European client surveys for Australian equities. It was also the top ranked non-domestic Canadian equities platform, and was number one by market share for warrants in Singapore and ADRs in Indonesia,” he said.