Macquarie sees jump in profits

MACQUARIE, Australia&rsquo;s largest investment bank, yesterday predicted a rise in first-half profit and signalled its intention to expand into Europe and the US.<br /><br />The bank said its first-half profit would come in somewhere between the results for the first and second halves of its last fiscal year, suggesting a profit of around A$440m (&pound;221m).<br /><br />In a trading update teeing up its annual meeting, the company said its funding situation was strong and that it was holding A$4.3bn more capital than required by regulators.