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BHP, Bunnings, CFS, Foster's, GPT, ING, Stockland: Australian, N.Z. Stocks

Australia’s S&P/ASX 200 Index fell 0.8 percent to 4,537.20 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index declined 0.4 percent to 3,161.18 at the 5 p.m. close in Wellington.

The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.

Mining stocks: Australian Treasurer Wayne Swan signaled the final terms of the government’s planned mining profits tax will depend on talks with independent lawmakers.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, slipped 1.4 percent to A$37.91. Potash Corp. of Saskatchewan Inc. Chief Executive Officer Bill Doyle said BHP is unlikely to be the only bidder for the world’s biggest fertilizer producer as others are interested.

Rio Tinto Group (RIO AU), the world’s third-biggest miner, dropped 1.2 percent to A$73.44. Sumitomo Metal Industries Ltd. and Kobe Steel Ltd., Japan’s third- and fourth-largest steelmakers, settled for a 13 percent price cut from Rio Tinto for iron ore, the first decline in three quarters.

Property shares: JPMorgan Chase & Co. downgraded five Australian real-estate investment trusts, saying their share prices are too expensive compared with their peers.

Bunnings Warehouse Property Trust (BWP AU) fell 0.5 percent to A$1.92. CFS Retail Property Trust (CFX AU) dropped 1.3 percent to A$1.955. GPT Group (GPT AU) slipped 1 percent to A$3.05. ING Office Fund (IOF AU) declined 2.4 percent to 61.5 Australian cents. Stockland (SGP AU) dipped 1 percent to A$4.06.

Carnarvon Petroleum Ltd. (CVN AU) surged 14 percent to 42 Australian cents, its biggest gain in a year. The company announced record flow rates at a test well in Thailand, in a statement released to the Australian stock exchange.

Dart Energy Ltd. (DTE AU) rose 1.2 percent to 82 Australian cents. The gas explorer, spun off from Arrow Energy Ltd., reported the signing of a gas sales agreement at the Liulin project in China.

Foster’s Group Ltd. (FGL AU) jumped 4.5 percent to A$6.34. Australia’s largest brewer rejected an offer of as much as A$2.7 billion ($2.5 billion) for its wine unit from an unidentified buyout firm.

Sundance Resources Ltd. (SDL AU) stocks surged to the highest level in a year, advancing 19 percent to 18.5 Australian cents. The company said it signed a deal with CRCC China-Africa Construction Ltd. for a railway track in West Africa.

To contact the reporter for this story: Lisa Pham in Sydney at lpham14@bloomberg.net.

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