The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected the ASX 200 index:
Afterpay Touch Group Ltd (ASX: APT)
Afterpay is currently working through issues with AUSTRAC which is looking at whether there has been any money laundering or terrorism financing activity through Afterpay’s systems. This caused the Afterpay share price to fall a little on the day, but recovered 3% on Friday.
Afterpay also announced some growth numbers for the 11 months to the end of May 2019 including underlying sales growth of 143% to $4.7 billion over the prior period.
Magellan Financial Group Ltd (ASX: MFG)
With the international share markets down over May it was unsurprising that markets were pricing in a fall of Magellan’s funds under management (FUM).
However, the market-beating fund manager continued to attract funds into its stable, ending with FUM of $82.8 billion. The share price rose in response. Whilst the Magellan international equities FUM fell, infrastructure and Australian equities FUM rose.
Woolworths Group Ltd (ASX: WOW) has been busy
We learned two new pieces of news about Woolworths this week. The first is that it’s going to make two new departments called ‘fresh service’ and ‘fresh convenience’ in a bid to improve service offering to customers.
US Federal Reserve to increase interest rates?
The US Federal Reserve has indicated that it will do what it takes to keep the US economy in reasonable shape.
As you can imagine, this has made many Australian and global share market investors feel more positive about the shorter-term outlook for shares and other assets, which is partly why the market had a bit of a bounce this week.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.