The S&P/ASX 200 Index rose 1.1 per cent to 6612.6 points on Monday. Magellan Financial, though, retreated 9.9 per cent to $11.71.
The ASX’s listed fund managers were left behind in the sharemarket’s 1.1 per cent rally on Monday, as Magellan Financial Group suffered the most, dropping 9.9 per cent.
However, the bond market has started to challenge the consensus for co-ordinated, and aggressive, interest rate increases.P/ASX 200 Index rose 72.7 points, or 11.1 per cent, to 6612.6, while the All Ords firmed 1.1 per cent to 6796.9 following a Friday rally on Wall Street as bond yields tumbled in a signal the bond market is counting on some moderation of expected tightening.P 500 added 1.1 per cent to 3825.3, the Dow Jones Industrial Average rose by a similar margin to 31,097.
Seniors’ housing developer Ingenia Communities added 5.3 per cent to $4.16 after confirming it would hit full-year 2022 guidance, albeit at the lower end of its targeted range for earnings before interest and tax growth of 5 per cent to 10 per cent. . They are H-E-B Grocery Company, a supermarket chain based in Texas with 340 stores, and Meijer, with 259 stores located predominantly in the US midwest. It rose 3.2 per cent to 64¢.Superloop rose 6.4 per cent to 74.5¢; it intends to undertake an on-market share buyback for a maximum of 48.6 million ordinary shares, or as much as 10 per cent of its capital.
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