BHP, James Hardie, Newcrest, Mirabela, Stockland: Australian, N.Z. Stocks
Australia’s S&P/ASX 200 Index gained 0.1 percent to 4,691.30 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index was little changed at 3,236.08 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.
Australia:
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.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, rose 1 percent to A$40.95. Rio Tinto Group (RIO AU), the third-biggest miner, advanced 0.7 percent to A$79.54.
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.
New Zealand:
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.
To contact the reporter for this story: Shani Raja in Sydney at sraja4@bloomberg.net.
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.
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