Australian, N.Z. Stocks: APA, Downer, FKP, Nufarm, Infigen, Virgin Blue
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
APA Group (APA AU) fell 1.1 percent to A$3.56. The company, whose pipelines carry more than half Australia’s natural gas, is considering bidding for some of Alinta Energy Ltd.’s assets, the Australian Financial Review reported, citing an interview with APA Managing Director Mick McCormack.
Downer EDI Ltd. (DOW AU) slumped 6.3 percent to A$3.74. The Australian engineering company was downgraded to “hold” from “accumulate” at E.L. & C. Baillieu Stockbroking Ltd.
Infigen Energy Ltd. (IFN AU) tumbled 8.1 percent to 74 Australian cents. The Australian wind energy project developer has decided to proceed with the construction of the 42-megawatt Woodlawn wind farm near Bungendore in New South Wales state, the company said.
Kingsgate Consolidated Ltd. (KCN AU) plunged 8.3 percent to A$9.55. The gold mining and exploration company’s may sell shares in its Thai gold mining unit in the fourth quarter after winning government approval to expand, Thailand’s stock exchange chief marketing officer Vichate Tantiwanich said.
Nufarm Ltd. (NUF AU) climbed 4.4 percent to A$5.43. Australia’s largest supplier of farm chemicals was raised to “neutral” from “underperform” at Credit Suisse Group AG by equity analyst Rohan Gallagher.
Virgin Blue Holdings Ltd. (VBA AU) rose 1.7 percent to 30.5 Australian cents. Chief Executive John Borghetti wants to double the airline’s share of the corporate market to 20 percent, the Australian Financial Review reported, without saying where it got the information. Borghetti has hired Jane McKeon, Qantas Airways Ltd.’s head of government and international relations, the newspaper said.
Guinness Peat Group Plc (GPG NZ) dropped 2.9 percent to 66 New Zealand cents. The investment holding company said it fired Tony Gibbs as an executive and removed him from the board after he published his personal view opposing the planned demerger of the company’s Australian unit.