Ninety One PLC (LSE:N91) shares surged 6% at the open before reversing to trade down 7% as investors focused on weaker-than-expected second-half net inflows, overshadowing a set of full-year results that beat consensus on profits and dividends. Cavendish, which rates the stock a buy with a target price of 263p, said the only wrinkle in an otherwise solid performance was the smaller-than-anticipated net inflow during the second half, with the equities and multi-asset businesses appearing to be negatively impacted by macro uncertainties towards the end of the period.