ASX 200 News Today, Magellan (MFG) Shares Skid Into Trading Halt
The Australian share market or ASX 200 (INDEXASX: XJO)(^AXJO) is tipped to start lower today after the USA’s S&P 500 Index (.INX) fell 1% on Monday.
- Australian Dollar ($A) (AUDUSD): 67.53US cents
- Dow Jones (DJI): down 1.48%
- Oil (WTI): $US54.93 per barrel
- Gold: $US1,512 per ounce
Making ASX news today, Auckland International Airport Limited (ASX: AIA) released its monthly traffic numbers showing that total passengers grew by 2.2% to 1.535 million drive by a 3.4% increase of domestic passengers to 709,000.
International passengers, which grew 1.9%, was led by North American passengers. USA passengers increased by 10% and Canada passengers went up ~32%.
Magellan’s Trading Halt
Magellan Financial Group Ltd (ASX: MFG) surprised the market today by going into a trading halt.
The international shares focused investment fund is going to undertake a capital raising whilst also issuing its FY19 result to investors this morning.
Magellan had a very strong year during FY19 with international markets, particularly the US market, rising strongly during the year whilst the Australian Dollar fell compared to the US Dollar.
Challenger Profit Down 5%
Finally, annuity fund manager Challenger Ltd (ASX: CGF) has reported its full year result for FY19.
Challenger revenue grew by 8.3% to $2.37 billion, but net profit declined by 4.6% to $307.8 million. ‘Normalised’ net profit before tax went up $1 million to $548 million and ‘normalised’ net profit after tax dropped 2.5% to $396 million.
The Board of Challenger decided to maintain its final dividend at 18 cents per share, meaning that the total dividend for the year was 35.5 cents per share – the same as last year. The FY20 dividend is also expected to be 35.5 cents per share.
Want to know the name and ticker code of our #1 ASX ETF for 2019? Click here to access our free investing report, including the name, ticker code and a full analysis of our favourite ETF.
Legal disclaimer: Chances are, the information you read on the BESTETFS website may contain a mix of factual information and general financial advice. Any information/advice on this website is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information and NEVER INVEST IN AN ETF OR MANAGED FUND BEFORE READING THE PRODUCT DISCLOSURE STATEMENT (PDS). If you don't read the PDS you're practically flying blind with one arm tied behind your back. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.
Check out our ETF Strategy + portfolio for ‘no fuss’ investing!