Australia's Magellan Financial top ASX gainer on higher FUM

Magellan Financial

05/01/2024 24:56

** Shares of Magellan Financial Group  MFG.AX  rise as much
as 8.7% to A$10.2, their highest since Aug 22, 2023
    ** Stock posts its biggest intraday pct gain since Dec 27,
2023
    ** The fund manager reports total funds under management of
A$35.8 bln ($24.02 billion), as at Dec 29, in comparison with
A$35.2 bln by Nov 30
    ** Reports net outflows of A$0.2 billion in December
    ** Stock emerges as the top gainer in benchmark index 
    ** Magellan stock gained 6.8% in 2023

   ($1 = 1.4903 Australian dollars)

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))