The following are among the most active shares today. Stock symbols are in parentheses after company names.
Australian Agricultural Co. (AAC) slumped 5.3 percent to A$1.525. The Australian cattle producer and breeder said it doesn’t expect to generate a profit in the first half of 2009, or potentially in the second half, because of unpredictable cattle prices.
Devine Ltd. (DVN) , a homebuilder, dropped 6.4 percent to 44 Australian cents. The company cut its fiscal 2009 net profit forecast to between A$15 million ($12 million) and A$17 million from a previous target of between A$23 million and A$25 million, due to the deferral of a project in Brisbane.
Macarthur Coal Ltd. (MCC AU) shares rose 3.8 percent to A$6.92, the highest close since Nov. 5. The company, the world’s biggest exporter of pulverized coal, said renewed demand from China meant it would beat its previous full-year sales forecast.
Terramin Australia Ltd. (TZN) soared 17 percent to 94.5 Australian cents, its highest since Oct. 15. The zinc mining company said China Non-ferrous Metal Industry’s Foreign Engineering & Construction Co. has received approval from the Australian Foreign Investment Review Board for a $10 million investment in Terramin.
Virgin Blue Holdings Ltd. (VBA AU) climbed 9.8 percent to 33.5 Australian cents, the highest close since April 15. Australia’s second-biggest airline may start flights between Sydney and Tokyo within 18 months in anticipation of a rebound in international travel demand, Richard Branson, the billionaire who owns about 25 percent of the carrier, said in an interview.
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