SYDNEY Feb 20 Shares in Australia's AMP Ltd
rose as much as 10 percent on Thursday after
Australia's third-largest retail funds manager said it expected
to stop profit declines in its wealth protection unit in 2015.
AMP reported a 10.6 percent fall in full-year underlying
profit to A$849 million ($766.90 million) but said there were
encouraging signs in the second half of the year in addressing
lapses in insurance policies.
AMP's shares were up 7.8 percent at A$4.86 in early trade,
having touched a high of A$4.94. The stock had dropped about a
quarter in eight months after AMP gave two warnings about the
wealth protection unit's shrinking profits.
($1 = 1.1071 Australian dollars)
(Reporting By Byron Kaye; Editing by Paul Tait)