Australia's Netwealth slips most since 2022 after revised annual outlook
BUZZ-Australia's Netwealth slips most since 2022 after revised annual outlook ** Shares of Netwealth NWL.AX tumble as much as 13.1% to A$14.57, their steepest intraday decline since February 2022 to become the top laggard on the financials sub-index .AXFJ
** The wealth management platform provider slumps to its lowest level in nearly three years and is on track for a third consecutive session of losses, if current trend holds
** Company trims its FY27 net inflow outlook on a pre-Paradino acquisition basis, now forecasting FUA net flows of A$17 billion-A$19 billion ($11.82 billion-$13.21 billion) versus its earlier A$18 billion-A$20 billion outlook
** Stock down 38.2% YTD vs AXFJ's gain of 1.1%
($1 = 1.4384 Australian dollars)
(Reporting by Kumar Tanishk in Bengaluru)
((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))
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