Australia’s S&P/ASX 200 Index rose 0.2 percent to 4,948.10 at the close of trading in Sydney. New Zealand’s NZX 50 Index advanced 0.1 percent to 3,310.25 in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Coal producers: Macarthur Coal Ltd. (MCC AU) rejected a A$3.71 billion ($3.4 billion) takeover offer from New Hope Corp., which is battling Peabody Energy Corp. and Noble Group Ltd. for control of the world’s biggest producer of pulverized coal.
Macarthur shares jumped 8.3 percent to A$15.55. Whitehaven Coal Ltd. (WHC AU) climbed 7.2 percent to A$5.79. Centennial Coal Co. (CEY AU) advanced 2 percent to A$4.52.
BlueScope Steel Ltd. (BSL AU) dropped 2.4 percent to A$2.90. Cheung Kong Infrastructure Holdings Ltd., Hong Kong billionaire Li Ka-shing’s roads and utility unit, said it has sued BlueScope over its failed bid to buy an iron-sands mine in New Zealand from the Australian company.
Gindalbie Metals Ltd. (GBG AU) gained 1.1 percent to A$1.335. The company, building a A$1.8 billion ($1.7 billion) iron-ore mine in Australia, said China Development Bank Corp. and Bank of China Ltd. agreed to provide most of a $1.2 billion loan for the mine.
Ramsay Health Care Ltd. (RHC AU) declined 1 percent to A$14.15. Australia’s biggest private hospital operator was downgraded to “hold” from “buy” at Deutsche Bank AG.
Michael Hill International Ltd. (MHI NZ), New Zealand’s biggest specialty jeweler, rose 5.7 percent to 74 New Zealand cents, after reporting after posting a 10 percent gain in third- quarter sales.
To contact the reporters for this story: Shani Raja in Sydney at firstname.lastname@example.org.