Australia's Generation Development hits 16-year high on positive trading update

Generation Development

23/01/2024 02:20

** Shares of Generation Development Group  GDG.AX  rise as
much as 6.1% to A$1.830, their highest since Jan 3, 2008
    ** The pooled development fund co says its total funds under
management, as at Dec 2023, were A$2,928 mln ($1.93 bln), up 24%
from corresponding period 
    ** Stock posts its biggest intraday pct gain since Nov 24 
    ** Over 112,170 shares change hands, compared with the
30-day average volume of 96,806 shares
    ** Stock rose 40.7% last year, its best year since 2021
   
    ($1 = 1.5179 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))