Tonight’s NRL grand final between the Manly- Warringah Sea Eagles and the Sydney Roosters has a lot more riding on it than bragging rights and office bets- it could affect share prices.
According to an analysis by the Financial Review, a Manly premiership win historically has influenced the sharemarket and not for the good.
The average return for the Australian sharemarket in the December quarter following the Sea Eagles’ eight premiership victories since 1970 is 7.97 per cent, according to AFR’s Markets Today.
More specifically, after Manly’s 2011 win the All Ords only managed a 1.01% rise in the December quarter 2011. A pathetic result compared to the Melbourne Storm triumph in 2012 which saw the All Ords up a very respectable 5.86% in the same period.
However, overall this evening’s result may be irrelevant with global financial markets investors suggesting it will be a poor quarter anyway.
Read more here.
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