The financials sector advanced 0.8% at midday Tuesday, after Macquarie Group (ASX:MQG) announced the sale of a division which has AU$285 billion in assets under management.
Macquarie's (ASX:MQG) Macquarie Asset Management will sell its North American and European public investments business to Japanese financial services group Nomura for AU$2.8 billion in cash. Nomura will acquire all assets, staff, and infrastructure, with the business to remain under current leadership.
On the flip side, the information technology struggled, falling 1.88%. All three US equity indexes and bonds fell in trading on Monday after the US President Donald Trump claimed there was "virtually no inflation" in the US and called for the Federal Reserve to lower interest rates.
ikeGPS Group (ASX:IKE, NZE:IKE) reported total revenue of NZ$25.2 million for the year ended March 31, a 19% increase from NZ$21.1 million a year earlier. Platform subscription revenue climbed 34% year on year to NZ$14.4 million, while transaction revenue grew 3% to NZ$7.6 million. Hardware and other services revenue rose 5% to NZ$3.2 million.
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