Dec. 3 (Bloomberg) -- Australian stocks rose for a third day, led by Westfield Group and National Australia Bank Ltd. on speculation the U.S. Federal Reserve will cut interest rates again, providing a boost to the world's largest economy.

``There's a perception the Fed is getting ahead of the curve and as a result the U.S. economy won't fall into recession,'' said Troy Angus, who helps manage the equivalent of $3.5 billion at Paradice Investment Management Ltd. in Sydney. ``Companies with borrowings in the U.S. will also be helped by rate cuts there.''

BHP Billiton Ltd. and Zinifex Ltd. led mining stocks higher after prices for metals such as copper and zinc jumped.

The S&P/ASX 200 index climbed 29.40, or 0.5 percent, to 6,562.50 as at 11:03 a.m. in Sydney, after gaining 3.2 percent last week. Almost the same number of stocks rose and fell.

Westfield, which owns 59 shopping malls in the U.S., gained 52 cents, or 2.5 percent, to A$20.96. News Corp., the media company controlled by Rupert Murdoch, rose 22 cents, or 0.9 percent, to A$24.46.

U.S. stocks rose Nov. 30, capping the best weekly gain since March, after Federal Reserve Chairman Ben S. Bernanke signaled he may cut interest rates The Standard & Poor's 500 Index advanced 0.8 percent.

National Australia, the largest Australian bank, jumped 88 cents, or 2.3 percent, to A$39.13. Westpac Banking Corp., Australia's fourth-largest lender, rose 25 cents, or 0.9 percent, to A$28.58. Australia and New Zealand Banking Group Ltd., the third-biggest, gained 10 cents, or 0.4 percent, to A$28.27.

BHP, the world's largest mining company, added 40 cents, or 0.9 percent, to A$43.46. Zinifex, the world's third-largest zinc producer, increased 17 cents, or 1.2 percent, to A$14.61.

Copper Jumps

A measure of six metals traded on the London Metal Exchange, including copper and nickel, jumped 1.3 percent. Copper added 1.7 percent, nickel rose 0.5 percent, and zinc climbed 3.4 percent.

The S&P/ASX 200's futures contract for December added 0.2 percent to 6,583. The broader All Ordinaries Index gained 0.5 percent to 6,625.10.

The following stocks fell. Stocks symbols are in brackets after company names.

Amcor Ltd. (AMC AU), Australia's largest packaging company, added 14 cents, or 2 percent, to A$6.99. New Zealand's richest man, Graeme Hart, may join forces with Amcor to challenge Visy Industries dominance of the Australian cardboard box business, the Sydney Morning Herald reported without saying where it got the information. Hart's Carter Hold Harvey box unit has been in talks with Amcor for two months over the joint venture, the newspaper said.

Brainytoys Ltd. (BRT AU), a childrens toy and game manufacturer, lost 1 cent, or 5 percent, to 19 cents. Braintytoys said it agreed to buy a United Kingdom-based importer and distributor operating in the toy and hobby sector, according to a statement to the exchange.

Tattersall's Ltd. (TTS AU), Australia's second-largest gaming company, fell 5 cents, or 1.3 percent, to A$3.95. The stock was cut to ``buy'' from ``hold'' Nov. 30 by ABN Amro Holding NV analyst Nicholas Caley, who set a 12-month price target of A$4.45 a share.

Transpacific Industries Group Ltd. (TPI AU), the biggest waste company in Australia and New Zealand, climbed 38 cents, or 3.5 percent, to A$11.38. Transpacific reaffirmed a forecast for a 11 percent jump in earnings before interest, tax depreciation and amortization in the fiscal 2008 year and said the company is primed for organic and acquisitive growth.

To contact the reporter on this story: Emma O'Brien in Wellington on eobrien6@bloomberg.net

Last Updated: December 2, 2007 19:10 EST