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IMPROVE 3-Australia’s AMP matters the price of previous misdeeds, stocks plunge

IMPROVE 3-Australia’s AMP matters the price of previous misdeeds, stocks plunge * AMP allows A$290 mln for bad monetary advice * business spending another A$150 mln investigating methods * Shares at their cheapest since 2003 (Adds analyst comment, updates stocks) By Byron Kaye and Paulina Duran SYDNEY, July 27 (Reuters) – Australia’s wealth manager that is biggest, AMP Ltd, on Friday flagged A$530 million ($391.4 million) of expenses stemming from an inquiry into monetary sector misconduct and warned first-half profit would decrease, giving its stocks to a 15-year low. The trading upgrade fourteen days before it states first-half profits places
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