Brambles, James Hardie, Mirvac Group: Australian, New Zealand Stock Movers

Australia’s S&P/ASX 200 Index fell 0.7 percent to 4,667.10 at 10:38 a.m. in Sydney. New Zealand’s NZX 50 Index increased 0.2 percent to 3,268.98 in Wellington.

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

Australian-dollar-linked shares: Australia’s dollar traded near parity with the U.S. currency amid speculation the U.S. Federal Reserve will ease monetary policy further.

Brambles Ltd. (BXB AU), the world’s biggest supplier of wooden pallets, declined 1.7 percent to A$6.28.

James Hardie Industries SE (JHX AU) lost 1.2 percent to A$5.63. The biggest seller of home siding in the U.S. had its rating cut to “neutral” from “outperform” at Credit Suisse Group AG.

Fortescue Metals Group Ltd. (FMG AU), Australia’s third- largest iron ore producer, decreased 0.8 percent to A$6.33. Royal Bank of Scotland Group Plc reduced its earnings forecast 11 percent, citing the stronger Australian dollar.

Gujarat NRE Minerals Ltd. (GNM AU) climbed 1.6 percent to 62 Australian cents. The Australian coal producer was rated “overweight” in new coverage at JPMorgan Chase & Co.

Mirvac Group (MGR AU) fell 1.1 percent to A$1.315. The real-estate-investment trust had its rating cut to “neutral” from “outperform” by analysts led by Rowena Causley at Credit Suisse Group AG.

Platinum Australia Ltd. (PLA AU) retreated 1.8 percent to 56 Australian cents after the owner of mines in South Africa and Australia was downgraded to “neutral” from “outperform” at Macquarie Group Ltd.

To contact the reporter for this story: Shani Raja in Sydney at sraja4@bloomberg.net; Monami Yui in Tokyo at myui1@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.