Related News:
BHP, Centro, Medusa, Rio, Sims, Woodside: Australian, New Zealand Stocks
Australia’s S&P/ASX 200 Index fell 1.1 percent to 4,424.20 at the 4:10 p.m. close of trading in Sydney, taking its drop this month to 2 percent. New Zealand’s NZX 50 Index was little changed at 3,036.10 at the 5 p.m. close in Wellington. It gained 0.1 percent this month.
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 December delivery fell as much as 1.9 percent in New York trading today.
BHP Billiton Ltd. (BHP AU), the world’s biggest mining company, dipped 2.2 percent to A$37.05 in Sydney. Potash Corp. of Saskatchewan Inc. said BHP has been cold-calling some of its customers in bid to “undermine” the world’s biggest fertilizer maker as part of a $40 billion hostile takeover bid.
Rio Tinto Group (RIO AU), the world’s third-largest miner, declined 1.3 percent to A$70.09.
Oil companies: Crude for October delivery fell as much as 1.4 percent to $73.67 a barrel in electronic trading on the New York Mercantile Exchange, and was at $73.72 at 3:57 p.m. Sydney time.
Woodside Petroleum Ltd. (WPL AU), Australia’s second- largest oil and gas producer, dropped 1.4 percent to A$41.87.
Beach Energy Ltd. (BPT AU) gained 0.8 percent to 65.5 Australian cents. The oil and gas producer had its stock rating raised to “equal-weight” from “underweight” by analysts at Morgan Stanley.
Centro Properties Group (CNP AU), an Australian developer restructuring its business, fell 5.7 percent to 16.5 Australian cents after it reported a full-year loss of A$652.7 million ($582 million). Centro Retail Group (CER AU) dropped 3 percent to 16 Australian cents. The real-estate investment trust managed by Centro Properties had its stock rating cut to “neutral” from “overweight” by analysts at JPMorgan Chase & Co.
iSOFT Group Ltd. (ISF AU) slumped 15 percent to 14 Australian cents, its lowest level since March 2004. The health information software developer reported a full-year loss and said its chief executive officer will step down.
Medusa Mining Ltd. (MML AU) shares rose 1.5 percent to A$4 after saying full-year net profit jumped 131 percent to a record $65.8 million.
Sims Metal Management Ltd. (SGM AU) fell 1.1 percent to A$16.60. The world’s biggest recycler of scrap metal was downgraded to “hold” from “buy” by analysts at BBY Ltd.
To contact the reporter for this story: Lisa Pham in Sydney at lpham14@bloomberg.net.
Rate These Stories
Rate this Page