Australian Share Market Declines for Second Week
The Australian share market closed lower on Friday, marking its second consecutive weekly decline. The S&P/ASX 200 Index dropped 0.7 percent to finish at 8,769.7 points.
Macquarie Shares Drop on Earnings Miss
Shares in Macquarie Group fell 5.7 percent, closing at $204.77. The company reported a half-year net profit of $1.7 billion for the six months ending September 30, missing analyst forecasts by 10.4 percent, according to UBS.
Tesla Annual General Meeting Highlights
Tesla held its annual general meeting in Texas, where shareholders approved the largest-ever CEO compensation package for Elon Musk.
"Prices current around 4.35pm AEDT."
"This blog is not intended as investment advice."
Summary
The Australian market continued its downward trend led by a sharp fall in Macquarie shares after disappointing earnings, while Tesla shareholders approved a record CEO pay package.