Legg Mason Inc. (LM) announced a new capital plan Wednesday morning, which includes the refinancing of $1.25 billion of convertible senior notes. Additionally, Legg Mason's Board of Directors has authorized $1.0 billion for additional share repurchases.
Legg Mason broke out sharply following the announcement and continued to rise until noon. The stock finished up by 1.67 at $24.05 on the highest volume of the year. Legg Mason rebounded from the lows of the year, following a 2 1/2 week decline.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.