Australia's Macquarie falls after FY forecast lags

SYDNEY Mon Feb 4, 2013 11:12pm GMT



SYDNEY Feb 5 (Reuters) - Shares in Macquarie Group Ltd fell 3.9 percent on Tuesday after Australia's top investment bank forecast a smaller-than-expected 10 percent rise in 2013 profit.

Macquarie said its capital markets businesses were facing subdued activity, while its expected tax rate would rise.

Macquarie shares, up 55 percent in the past year, were at an intraday low of A$37.23 at 23:07 GMT, down 3.9 percent.

(Reporting by Lincoln Feast; Editing by John Mair)