AMP 5.79% $1.28 amp limited

AFR... Bell Potter analyst Lafitani Sotiriou told clients the...

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    AFR...
    Bell Potter analyst Lafitani Sotiriou told clients the withdrawal of guidance was "understandable" given the uncertainty in the market.
    "Overall this is a good update, in the market backdrop, and the share price should go well today," Mr Sotiriou said.
    A longstanding critic of AMP's regulatory risk and vertically integrated business model, the analyst praised the company for its commitment to stick to the timeline for the remediation program, describing it as a "good outcome".
    He also noted that the updated timeline for the sale of the New Zealand wealth business was "ahead of expectations" and could result in a capital gain of between $400 and $500 million.
 
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