Australian, N.Z. Stocks: Brambles, CSR, Elders, Sonic Healthcare, Nuplex
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
CSR Ltd. (CSR AU) declined 0.9 percent to A$1.635. Bright Food Group Co.’s A$1.75 billion ($1.5 billion) offer for CSR’s sugar unit raises concerns that supplies of the refined sweetener may be diverted from the Australian market, Mackay Sugar Ltd. Chief Executive Officer Quinton Hildebrand said. Mackay owns 25 percent of Sugar Australia, the nation’s largest sugar refiner, with CSR owning the rest.
Dexion Ltd. (DEX AU) declined 2.2 percent to 67.5 Australian cents. The manufacturer of storage products was cut to “hold” from “buy” by Royal Bank of Scotland Group. The shares were unchanged at 69 Australian cents.
Elders Ltd. (ELD AU) tumbled 7 percent to 80 Australian cents. The world’s largest wool broker was cut to “hold” from “buy” at Royal Bank of Scotland.
Sonic Healthcare Ltd. (SHL AU) gained 3.4 percent to A$10.81. The Australian Financial Review reported that Quest Diagnostics Inc. has been considering buying the company. Chief Executive Officer Colin Goldschmidt declined to comment on the report. Rival Primary Health Care Ltd. (PRY AU) increased 2.9 percent to A$3.86.
Nuplex Industries Ltd. (NPX NZ), a New Zealand resin manufacturer, rose 4 percent to NZ$2.88, the biggest gain in more than four months, after saying rising costs won’t reduce its earnings forecast.
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