BHP, DUET, DuluxGroup, ERA, iSOFT, Rio, Telecom: Australian, N.Z. Stocks
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Mining shares: Copper futures for September delivery in New York declined 1.1 percent in after-hours trading, extending yesterday’s 1.5 percent slide.
BHP and Rio Tinto’s proposed venture involving their Australian iron-ore operations may be subject to a secondary antitrust review by the Japan Fair Trade Commission, Nikkei English News reported, without citing a source for the information.
Oil companies: Crude for August delivery fell as much as 0.8 percent to $74.35 a barrel in after-hours trading in New York.
Gold producers: Gold for immediate delivery gained as much as 0.4 percent to $1,201.04 an ounce. Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, declined 0.4 percent to A$34.83. Rival Eldorado Gold Corp. (EAU AU) dropped 4.4 percent to A$18.92.
DuluxGroup Ltd. (DLX AU) rose 3.2 percent to A$2.62. The Australian maker of paints, which began trading yesterday after being spun off from Orica Ltd. (ORI AU), was rated new “outperform” at Macquarie Group Ltd. by equity analyst Douglas Macphillamy. Orica, the world’s largest industrial explosives maker, fell 1 percent to A$24.00.
Energy Resources of Australia Ltd. (ERA AU) declined 4.6 percent to A$14.05. The uranium producer controlled by Rio Tinto said second-quarter output fell 44 percent after heavy rain and instability in a pit wall reduced access to high-grade ore.
iSOFT Group Ltd. (ISF AU) plunged 14 percent to 16 Australian cents. The developer of software for hospitals slumped to the lowest level since March 16, 2004, after saying full-year profit will be lower than analysts’ expectations. The shares have fallen 79 percent this year.
Sigma Pharmaceuticals Ltd. (SIP AU) rose 4.4 percent to 47.5 Australian cents. Aspen Pharmacare Holdings Ltd., which is bidding for Sigma, said it will push for a full takeover of the company, Australia’s largest drug distributor. Sigma said yesterday it may consider offers for parts of its business.