ReutersReuters

Australia's Macquarie hits 8-week low as H1 earnings miss estimates

** Shares of Australia's Macquarie MQG fall as much as 4.5% to A$221.11

** Stock set for weakest trading session since early August and hits lowest since Sept 6

** Financial conglomerate posts earnings that fell short of market expectations

** Records HY profit attributable of A$1.61 bln ($1.06 bln), missing a consensus estimate of A$1.73 bln

** Earnings miss reflecting subdued volatility in energy markets, which hurt profit in its key commodities and global markets business

** Co says its commodities income is expected to be down in short term

** Citi says MQG has pulled hard on costs in particular segments to mitigate macro headwinds

** Brokerage adds a pause in rates environment in Australia is indicating that investors' expectations may be too high in FY25 and FY26 for MQG

** Stock has risen 26.1% YTD, as of last close

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