BHP, James Hardie, Newcrest, Mirabela, Stockland: 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 rose to the highest price in almost 27 months in New York yesterday. Futures for December delivery gained 0.7 percent to close at $3.753 a pound at 1:26 p.m. on the Comex.
Mirabela Nickel Ltd. (MBN AU) surged 7.1 percent to A$1.805 after nickel rose for a 12th day in London.
Gold producers: Gold rose to another record yesterday and silver gained to a 30-year high on speculation government spending will erode the dollar.
Newcrest Mining Ltd. (NCM AU), Australia’s largest gold producer, gained 0.7 percent to A$42.32.
U.S.-linked stocks: Companies in the U.S. unexpectedly cut 39,000 workers last month, figures from ADP Employer Services showed. Economists had forecast 20,000 jobs would be added, according to the median estimate in a Bloomberg survey. James Hardie Industries (JHX AU), the biggest seller of home siding in the U.S., fell 2.3 percent to A$5.66. ResMed Inc. (RMD AU), which makes machines that regulate breathing for people with sleeping disorders and gets more than half its sales in the U.S., dropped 2.3 percent to A$3.37.
Stockland (SGP AU), Australia’s biggest diversified property group, advanced 0.8 percent to A$3.96. Aevum Ltd. (AVE AU) said its board will unanimously recommend that all shareholders accept Stockland’s revised offer.
Michael Hill International Ltd. (MHI NZ) climbed 4.4 percent to 71 New Zealand cents after saying first-quarter sales rose 12.8 percent as consumer demand recovered from the year earlier.
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