Australia's Challenger among top gainers on positive trading update

Challenger

18/04/2024 01:59

** Shares of Challenger  CGF.AX  soar as much as 8.5% to
A$7.030, set for their best day since Feb 13, if gains hold 
    ** Stock among top gainers in the benchmark index 
    ** The investment management co sees normalised net profit
before tax for FY24 towards the top end of its forecast of A$555
mln ($357.31 mln) to A$605 mln ($389.50 mln)  
    ** Co reports group assets under management of A$124 bln, up
6% for the quarter 
    ** Shares hit highest since April 5 
    ** Challenger stock has fallen ~0.2% this year, as of last
close

   ($1 = 1.5533 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))