Australia's Netwealth rises to over 10-week high on cheery outlook
07/07/2026 02:24
BUZZ-Australia's Netwealth rises to over 10-week high on cheery outlook ** Shares of Australia's Netwealth NWL.AX rise as much as 8.7% to A$24.88, their highest level since April 24
** Stock marks its biggest intraday pct jump since July 1
** The financial services firm projects FY27 FUA net flows of A$18 billion - A$20 billion ($12.50 billion - $13.89 billion), up 17%-30% on FY26, reflecting underlying momentum and new growth initiatives
** Says preliminary result for FY26 FUA net flows of A$15.4 billion
** Aims to double FUA over the next four years, with EBITDA margin trending towards 50% over that time
** Stock last up 5.7%, trimming up/down YTD
($1 = 1.4395 Australian dollars)
(Reporting by Sneha Kumar in Bengaluru)
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