A magnetic apparatus, a memory using the magnetic apparatus and method for providing the magnetic apparatus are described. The magnetic apparatus includes a magnetic junction and a hybrid capping layer adjacent to the magnetic junction. The hybrid capping layer includes an insulating layer, a discontinuous oxide layer, and a noble metal layer. The discontinuous oxide layer is between the insulating layer and the noble metal layer. The insulating layer is between the magnetic junction and the noble metal layer. In one aspect, the magnetic junction includes a reference layer, a nonmagnetic spacer layer that may be a tunneling barrier layer and a free layer.