Australia's Magellan Financial climbs to 5-1/2 months on Barrenjoey merger plan

Magellan Financial

06/03/2026 02:48

** Shares of Australia's Magellan Financial MFG.AX rise 5.8% to A$11.18, their highest level since August 20, 2025

** Stock has added more than 32% so far this week, in contrast with the benchmark S&P/ASX 200's .AXJO 3.8% decline

** MFG set for best week since late-March 2008, if gains hold

** Co said on Monday it will acquire all issued shares of Barrenjoey Capital Partners that it does not currently own at an implied value of A$1.62 billion ($1.15 billion) for Barrenjoey as a whole

** YTD, stock is up 12%

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))