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APA, Arrow, BHP, ChemGenex, Indophil, Linc, Rio: Australian, N.Z. Stocks
Australia’s S&P/ASX 200 Index rose 1.9 percent to 4,462.40 at the close of trading in Sydney. New Zealand’s NZX 50 Index increased 0.6 percent to 3,027.44 in Wellington.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Australia:
Mining shares: Copper for October delivery rose as much as 1.7 percent as of the midday break on the Shanghai Futures Exchange.
BHP Billiton (BHP AU), the world’s largest mining company, advanced 2.1 percent to A$38.40.
Rio Tinto Group (RIO AU), the world’s third-largest mining company, increased 1.3 percent to A$67.38. Rio Tinto said second-quarter iron ore production fell 2 percent.
Oil companies: Crude oil for August delivery fell as much as 0.4 percent to $76.81 a barrel on the New York Mercantile Exchange, and was at $76.86 at 1:23 p.m. Singapore time.
Woodside Petroleum Ltd. (WPL AU), Australia’s second- largest oil and gas producer, climbed 1.6 percent to A$43. Rival Santos Ltd. (STO AU) fell 0.6 percent to A$13.90.
Australian Environment Minister Peter Garrett today extended a review of the Queensland coal-seam gas projects by three months to Oct. 11. Santos is among companies planning to convert coal-seam gas to liquid form in Queensland for export to Asia.
Gold producers: Gold futures for August delivery gained 1.2 percent to $1,213.50 an ounce in New York yesterday, the biggest gain for a most-active contract since June 17.
Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, rose 1.3 percent to A$35.27.
APA Group (APA AU) gained 0.5 percent to A$3.70. The company, whose pipelines carry more than half Australia’s natural gas, plans to sell at least A$200 million of 10-year bonds through its unit APT Pipelines Ltd., according to an e- mailed statement from Australia & New Zealand Banking Group Ltd., which is managing the sale with National Australia Bank Ltd.
APN News & Media Ltd. (APN AU) jumped 3 percent to A$2.05. The resignation of APN Chairman Brendan Hopkins has increased speculation that Ireland’s Independent News & Media Plc may sell its 32 percent stake and that there may be a break-up of the publisher of newspapers in Australia and New Zealand, the Australian Financial Review reported in its Street Talk column.
Arrow Energy Ltd. (AOE AU) gained 0.4 percent to A$4.99. The Australian coal-seam gas producer said its shareholders approved the proposed takeover of the company by PetroChina Co. and Royal Dutch Shell Plc, along with the spinoff of unit Dart Energy Ltd.
ChemGenex Pharmaceuticals Ltd. (CXS AU) surged 33 percent to 38 Australian cents, the highest since May 4. The biotechnology medical research company and U.S. regulators agreed on a way of getting its first drug approved.
Energy Resources of Australia Ltd. (ERA AU) fell 2.1 percent to A$13.76. The uranium producer controlled by Rio Tinto had its rating cut to “sell” from “hold” by analysts at Royal Bank of Scotland Group Plc led by Lyndon Fagan.
Indophil Resources NL (IRN AU) plunged 42 percent to 63 Australian cents on its first day of trading since June 10. Zijin Mining Group Co., China’s largest gold producer, withdrew a A$545 million takeover offer.
Linc Energy Ltd. (LNC AU) surged 31 percent to A$1.38. India’s Economic Times said the Australian company that converts coal into liquid fuels was close to selling an asset to Adani Enterprises Ltd. “Linc Energy remains in detailed negotiations with a number of parties in relation to the sale of its non-core Queensland coal tenements,” the Brisbane-based company said in a statement today, issued after the newspaper report.
Mosaic Oil NL (MOS AU) jumped 7.4 percent to 14.5 Australian cents. The Australian oil and gas explorer’s board unanimously recommended the company’s proposed acquisition by AGL Energy Ltd.
National Australia Bank Ltd. (NAB AU) rose 1.6 percent to A$24.80. Axa Asia Pacific Holdings Ltd. (AXA AU) increased 1.3 percent to A$5.38. The Australian lender is preparing to negotiate another extension of an exclusivity agreement with Axa SA to complete its purchase of the Australian and New Zealand assets of Axa Asia Pacific, the Australian Financial Review reported.
Qantas Airways Ltd. (QAN AU) advanced 0.9 percent to A$2.32. Australia’s largest carrier will receive its first eight Boeing Co. 787 aircraft from mid-2012, the Sydney-based airline said in a filing today.
New Zealand:
New Zealand Oil & Gas Ltd. (NZO NZ) jumped 6.3 percent to NZ$1.35, the biggest gain since May 29 last year. A review of the nation’s Kupe field showed an increase in estimated natural gas and condensate reserves. New Zealand Oil has a 15 percent stake in the project.
To contact the reporters for this story: Lisa Pham in Sydney at lpham14@bloomberg.net. Shani Raja in Sydney at sraja4@bloomberg.net.
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