Robert Besser
03 Mar 2021, 12:25 GMT+10 asiapacificnews.net
The winter storms that swept across the U.S., particularly Texas, upending the energy market and knocking out power for millions of people, have delivered a windfall for Macquarie Group, with the Australian bank lifting its profit outlook for 2021 by as much as 10 percent, just two weeks after warning that earnings would be “slightly down”.
“Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquarie’s capabilities in maintaining critical physical supply across the commodity complex,” according to the company, which is the second-largest supplier of gas in North America after oil major BP, as quoted by Reuters.
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