ASX Close: ASX Rises 1.1%; Magellan Sinks 9.9%; Link Group Declines 0.3%

Australian Financial Review2022-07-04

The S&P/ASX 200 advanced 1.1 per cent, or 72.7 points to 6612.6 on Monday, led by strong gains across the energy and real estate sectors.

The energy sector was buoyed by an increase in oil prices on Friday; Santos added 3.3 per cent to $7.45 and Woodside Energy firmed 2.7 per cent to $31.26.

All four major banks advanced by between 0.8 per cent and 1.3 per cent.

Breville Group jumped 5.1 per cent to $19.05 after announcing the completion of its acquisition of Italian-based prosumer coffee group LELIT.

Magellan plunged 9.9 per cent to $11.71 following reports that its head of sales and distribution, Frank Casarotti, intends to retire in December 2023.

Link Group declined 0.3 per cent to $3.79 after rejecting Dye&Durham’s reduced takeover bid for the company.

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