Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Tuesday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 0.69% to 5,722.40
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 0.68% to 5,783.30
- AUD/USD at US 71 cents
- Gold at US$1,283.37 an ounce
- Brent Oil at US$57.30 a barrel
The best-performing ASX 200 share today was pharmaceutical company Mayne Pharma Group Ltd (ASX: MYX), its share price rose 8.2%.
Gold shares fell again today as the share market rose again. The worst affected was the Resolute Mining Limited (ASX: RSG) share price which fell by 5% after denying it was selling its Ravenswood Gold Mine in Queensland. The St Barbara Ltd (ASX: SBM) share price also fell by 5%.
The Magellan Financial Group Ltd (ASX: MFG) share price rose 4% today after giving its December funds under management (FUM) update. The fund manager also told the market what its average FUM for the half-year was and the total performance fees generated for the period.
The share price of Hub24 Ltd (ASX: HUB) increased by an impressive 7.2% today after the financial technology business informed the market that it had reached $10 billion of funds under administration by the end of December 2018.
Finally, the Brainchip Holdings Ltd (ASX: BRN) share price finished the day up 7.9% thanks to a strategic partnership agreement with SoftCryptum.
Here are some of today’s top stories:
- Bell Potter reveals the 10 best ASX shares to buy for 2019
- Morningstar names Telstra among the most undervalued shares on the ASX
- Ouch: Why the Blue Sky share price is down 95% in one year
- ANZ, CBA, NAB, or Westpac? Top broker names the bank share to buy
The Hub24 business has done very well over the past few years, however it’s not trading cheap – estimates put it at around 70x FY19’s estimated earnings.
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.