It’s a rough day on the market for many S&P/ASX 200 Index (ASX: XJO) shares.
Right now, the index is recording a 0.87% slump with all 11 sectors also in the red.
But not all ASX 200 shares are suffering. These three are currently trading in the green on Tuesday.
3 ASX 200 shares recording gains on Tuesday
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price is recovering from yesterday’s near-14% tumble.
The fall was brought on by a disappointing funds under management update and news the company will soon be dropped from the S&P/ASX 100 Index (ASX: XTO).
Right now, stock in the ASX 200 funds management business is swapping hands for $13.15, 2.33% higher than its previous close.
Thus, Magellan’s Tuesday gain might be a simple market correction. It might also be due to expectations an on-market buyback could kick off soon.
One expert is reportedly calling for the company to begin the buyback promised in March following the multi-year low recorded by the Magellan share price yesterday.
Sandfire Resources Ltd (ASX: SFR)
The Sandfire Resources share price is also in the green on Tuesday, gaining 3.53% to trade at $5.86.
There’s been no news from the ASX 200 copper share today. In fact, the last time the market heard word from Sandfire Resources was way back in April.
However, the price of copper did rise overnight. The metal’s value lifted 2.6% to reach US$9,743 per tonne, according to CommSec.
The Lottery Corporation Ltd (ASX: TLC)
The final ASX 200 share recording a notable gain on Tuesday is The Lottery Corporation. Stock in the ASX newbie is currently trading for $4.49 apiece – representing a 1.58% gain.
There’s been no news from the Tabcorp Holdings Limited (ASX: TAH) spin-out to explain its gains.
Though, it’s worth noting that prior to today, The Lottery Corporation suffered a six-session long losing streak.
The post 3 ASX 200 shares defying today’s sell-off to leap higher appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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