Australian, N.Z. Stocks: James Hardie, Restaurant Brands, The Reject Shop
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
James Hardie Industries (JHX AU), the biggest seller of home siding in the U.S., jumped 3.1 percent to A$5.72 after U.S. homebuilder Lennar Corp. reported better-than-estimated profit, boosting optimism in the global economic recovery.
Fletcher Building Ltd. (FBU NZ), New Zealand’s largest supplier of building products that gets about half its revenue from abroad, gained 1.9 percent to NZ$8.66 in Wellington.
The Reject Shop Ltd. (TRS AU) lost 0.5 percent to A$17.41. The discount retailer was downgraded to “neutral” from “outperform” at Credit Suisse Group AG.
Restaurant Brands New Zealand Ltd. (RBD NZ), which operates the nation’s KFC, Pizza Hut and Starbucks franchises, climbed 3.2 percent to NZ$2.59. The company reported second-quarter sales rose 3.7 percent amid record turnover at its fried chicken outlets.
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