Australian, New Zealand Stocks: Downer, Pyne, Tatts, Restaurant Brands
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Downer EDI Ltd. (DOW AU) tumbled 27 percent to A$4.58 after the engineering company reported about A$200 million ($169 million) of impairment charges tied to its Waratah train project.
Metcash Ltd. (MTS AU), Australia’s biggest grocery wholesaler, advanced 2.3 percent to A$3.94 after saying annual profit rose 12 percent because of higher sales to its independent customers.
Tatts Group Ltd. (TTS AU) dropped 0.4 percent to A$2.36. Australia’s third-largest gambling company was downgraded to “underweight” from “neutral” at JPMorgan Chase & Co.
Pyne Gould Corp. (PGC NZ), the owner of New Zealand finance company Marac, surged 2.3 percent to 45 New Zealand cents after saying it’s in talks with two rivals to create an enlarged business that may become a full trading bank.
Restaurant Brands New Zealand Ltd. (RBD NZ), which operates the country’s KFC, Pizza Hut and Starbucks franchises, advanced 3.1 percent to NZ$2.32. The company said first-quarter sales rose 4.2 percent, led by trading at its fried-chicken outlets.