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Three big movers 24th March, 2022; Crown Resorts, Southern Cross Media and McPherson’s

The Australian market extended its green run into Thursday, closing the session just 0.12% higher at 7387.10 points as a rally for energy stocks boosted the key index into positive territory.

The stocks that made headlines today were:
Crown Resorts as shares in the casino giant rallied today after the findings from the West Australian royal commission in Crown Resorts found that Crown’s casino in Perth is unsuitable to hold its licence but can retain it through following a provided pathway back to suitability.

Shares in Southern Cross Media jumped 7.4% today after the company announced an on-market share buyback of up to $40m, and also announced that the company has received unsolicited approaches from several parties to acquire SCA’s regional television assets.

And McPherson’s shares lifted 5.6% today after the health and wellness product manufacturer announced an exclusive, unique strategic alliance with Chemist Warehouse. Under the deal, McPherson’s will be appointed as Chemist Warehouse’s exclusive, long-term distributor of a select portfolio of Chemist Warehouse-owned or controlled health and beauty brands outside of the Chemist Warehouse network in Australia and New Zealand.

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