Sept. 29 (Bloomberg) -- Australian stocks rose, led by BHP Billiton and Rio Tinto Group after commodities prices including copper, oil and gold, climbed in New York, boosting resources companies' earnings.

The S&P/ASX 200 Index climbed 44.10, or 1 percent, to 4671.70 at the 4:05 p.m. close in Sydney, a record. About 11 stocks rose for every eight that fell.

New Zealand's NZSX 50 Index fell 0.1 percent to 3447.73 at the 5 p.m. close in Wellington. Telecom Corp., which accounts for a quarter of the benchmark index, dropped.

The Australian benchmark has gained 8.2 percent since June 30, heading for its ninth quarterly gain in a row, the longest winning streak since records began in 1992. A measure of materials and energy stocks, including BHP and Woodside Petroleum Ltd., were the biggest gainers out of ten industry groups that make up the index.

``Commodities stocks have been leading the charge the past quarter, largely on China-related increases in a number of commodities,'' said Hans Kunnen, who helps manage about $54 billion at Colonial First State in Sydney, Australia's No.1 fund manager. ``With commodities prices still firm, these stocks should continue to benefit for some time.''

BHP, the world's biggest mining company, climbed 67 cents, or 3.1 percent, to a record A$22.48. Rio, the third-biggest miner, added A$1.75, or 3 percent, to A$60.01, an all-time high.

Copper prices rose 1.2 percent to a record $1.75 a pound, extending a four-month rally, on speculation demand may rise for the metal used in manufacturing, wiring and construction.

Gold

Rio was rated A+ by Fitch Ratings, the fifth-highest investment grade. The agency said Rio's business and finances compare well with other miners.

Newcrest Mining Ltd., Australia's biggest gold miner, rose 52 cents, or 2.6 percent, to A$20.68.

Gold prices gained 1.5 percent to $473.10, closing in New York at the highest level in 17 years, as energy costs soared, prompting investors to buy the precious metal as a hedge against inflation.

Woodside, Australia's second-biggest oil producer, gained 88 cents, or 2.5 percent, to A$35.96. Santos Ltd., the nation's third- biggest producer, added 68 cents, or 5.9 percent, to A$12.25, its biggest gain since June 20.

Crude oil prices climbed 2 percent to $66.35 a barrel on speculation that inventories will decline after Hurricane Rita shut refineries and offshore platforms.

Santos and ConocoPhillips, the second-largest U.S. oil refiner, found natural gas at their Caldita-1 exploration well off northern Australia as they search for fuel that may be used at their Darwin LNG plant, ConocoPhillips said in a statement.

The S&P/ASX 200 Index's futures contract for September added 1 percent to 4686. The broader All Ordinaries Index rose 0.9 percent to 4617.40.

The following shares also rose or fell. The stock symbols are in brackets after the company names.

Australian stocks:

Alesco Corp Ltd. (ALS AU), an Australian home products and building materials maker, gained 13 cents, or 1.7 percent, to A$7.97. The stock was raised to buy'' from ``hold'' at Goldman Sachs JBWere Pty, citing the company's ``strong track record of earnings-per-share growth and ungeared balance sheet.''

Alkane Exploration Ltd. (ALK AU), a minerals explorer, surged 6 cents, or 33 percent, to 24 cents after the company said it found gold at its Wyoming One deposit.

Burns Philp & Co. (BPC AU), Australia's biggest baker, surged 4.5 cents, or 4.2 percent, to A$1.12. The company said it plans to spin off its baking and spreads and oils units into a new company, to be called Goodman Fielder, which will trade on the Australian and New Zealand Stock Exchanges.

The company also agreed to buy Rank Group Ltd.'s New Zealand Dairy Foods Ltd., which it plans to merge into the new company. It didn't give a price for the transaction.

Healthscope Ltd. (HSP AU), Australia's second-biggest private hospital owner, climbed 22 cents, or 3.5 percent, to A$6.44. The company said it will proceed with its purchase of 14 hospitals from Ramsay Health Care Ltd. (RHC AU) after receiving approval from the nation's competition regulator. Ramsay was unchanged at A$9.34.

New Zealand:

Charlie's Group Ltd. (CHA NZ), a New Zealand fresh orange juice maker, added 1 cent, or 7.1 percent, to 15 cents. The stock surged 7.7 percent yesterday after the company said it plans to buy rival juice maker Arano for NZ$4.6 million ($3.2 million) in cash and shares.

To contact the reporter for this story: Stuart Kelly in Sydney skelly22@bloomberg.net

Last Updated: September 29, 2005 02:46 EDT