Macquarie (ASX:MQG) in Big Four league as market cap swells

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Highlights

  • Macquarie Group had a market cap of AU$77.68 billion on Wednesday.
  • MQG has now surpassed Australia and New Zealand Banking Group Limited. 
  • MQG shares have gained nearly 50% so far this year. 

On Wednesday, Macquarie Group (ASX:MQG) overtook Australia and New Zealand Banking Group Limited (ASX:ANZ) on the back of market capitalisation – grabbing the big four spot. 

MQG had a market cap of AU$77.68 billion, ahead of ANZ at AU$76.87 billion.

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Macquarie has gained nearly 50% so far this year and closed at AU$203.250 on Wednesday. Among ANZ, Westpac (ASX:WBC), Commonwealth Bank (ASX:CBA)  and National Australia Bank (ASX:NAB), MQG is considered value or income stock. Despite being so many years in the market, MQG is viewed as a growth stock, as most of its businesses lie in investment banking rather than retail. But MQG’s share price collectively overtakes ANZ and NAB’s stock price when compared.

Further, big commercial banks have a significant contribution to the performance of housing markets, which gradually gets slow from time to time. However, MQG has efficiently adapted to new market trends. For example, MQG plays a vital role in the green energy transition to net-zero carbon emissions. 

According to various media reports, Marcus Padley – Founder of Marcus Today, said that – competition among the investment banks in the US is savage, as banks investors have a choice, but it doesn’t happen in Australia.


 


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