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...Mercuria and O’Kane declined to comment. While at Macquarie O’Kane turned the Australian bank into an energy trading power house....
...O’Kane earned A$171mn between 2018 and 2023 as his division’s profit soared from A$1.6bn to a record A$6bn....
...While at Macquarie, O’Kane turned the Australian bank into an energy trading power house and had been tipped as a possible next chief executive....
...The benchmark S&P 500 fell 0.2 per cent on Thursday afternoon, notching five straight daily losses for the first time since October....
...S&P said it originally expected the war would not last “more than six months” as it downgraded Israel’s sovereign credit rating from double A minus to A plus....
...Jon Mott, an analyst with investment bank Barrenjoey, said the departure of the “highly regarded” O’Kane was a surprise....
...The blue-chip S&P 500 dropped 0.9 per cent on Friday, capping its longest losing streak since October 2022. It fell for the third week in a row, losing 3.1 per cent across five sessions....
...Marco Dunand, head of Swiss energy trader Mercuria Energy, has indicated that Nick O’Kane, the former star trader at Macquarie, will take on a senior job at the company to help its “overstretched” management...
...O’Kane was paid almost A$100mn (US$65mn) in the past two financial years due to the strong performance of the commodities unit. He will pursue opportunities outside Macquarie after opting to leave....
...The S&P 500 notched its first gain of the week, recovering from a back-to-back decline, as traders took in new data that indicated a softening US economy....
...US blue-chips ended their best quarter in five years, with the S&P 500 squeezing out a 0.1 per cent gain even as big tech names including Apple, Tesla and Meta dragged the Nasdaq Composite to a similar-sized...
...The S&P 500 declined on Thursday, headed for its fifth straight loss since October....
...More than 90 per cent of S&P 500 stocks closed higher on Wednesday, as a broad rally in late trading lifted the benchmark index to its first record high in almost a week....
...Meanwhile, the dollar was up 0.6 per cent against a basket of six peers and on track for a four-session winning streak....
...About nine in 10 S&P 500 stocks were trading lower as traders assessed US inflation data that was higher than expected for March....
...Flows into S&P 500 ETFs were boosted by a technical factor last year when the $533bn SPDR S&P 500 ETF Trust (SPY) pulled in $31bn in two days in December....
...Overall, almost three-quarters of the S&P 500’s constituents fell, with pharmacy operator Walgreens Boots Alliance the worst performer with a 9.9 per cent drop....
...Gold hit a record high for the third successive session, climbing 1.2 per cent to $2,277 per troy ounce....
...More than 90 per cent of S&P 500 stocks closed higher, as a broad rally in late trading lifted the benchmark index to its first record high in almost a week....
...The price of gold hit a record high for the third session in a row, climbing 1.2 per cent to $2,277 per troy ounce....
...S&P Global Ratings has made a hefty revision to its US economic forecast, citing a bigger than expected expansion at the end of last year and a labour market that looks more solid than a month ago....
...The bank’s upgrade follows its forecast last week that Brent crude prices will hit $90 a barrel by the third-quarter....
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