BUZZ-Australian shipbuilder Austal rebounds from steepest drop in decade on outlook cut

Reuters
02/16
BUZZ-Australian shipbuilder Austal rebounds from steepest drop in decade on outlook cut

** Shares of Australian shipbuilder Austal Ltd ASB.AX rise 13.6% to A$5.530

** ASB stock marks its biggest intraday pct jump since late August

** Stock is top gainer in the ASX200 benchmark index .AXJO

** ASB closed 22.8% lower on Friday after downgrading its FY26 EBIT outlook, which also missed the Visible Alpha consensus

** ASB stock down 16.7% this year, including the day's move

(Reporting by Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com;))

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