Business
Why the Magellan (ASX:MFG) share price leapt 5% today
The Magellan Financial Group Ltd (ASX: MFG) share price closed Monday’s session 5.32% higher. By the market’s close, shares in the fund management business were trading at $45.57 after closing Friday’s session at $43.27.
By comparison, the S&P/ASX 200 Index (ASX: XJO) edged just 0.12% higher for the day.
Let’s take a closer look at what’s been happening for Magellan.
Magellan backed Barrenjoey Capital gets ASX licence
In news that could have helped boost the Magellan share price today, the Sydney Morning Herald (SMH) reported that the ASX has granted Barrenjoey Capital (of which Magellan owns a 40% stake) a licence to be a market participant. This means the investment bank can clear and settle trades in its own…
-
Noosa News21 hours agoPilot left with life-threatening burns to his body as plane crashes to ground in Raglan, Queensland
-
Noosa News15 hours agoTeenage girl killed in house fire in Lawnton, Queensland as police probe potential e-bike link
-
Noosa News22 hours agoWhen will my HECS debt be cut? Millions of Australians wake to 20 per cent cut
-
General24 hours agoTitanic passenger’s watch sets record at UK auction