Australia, New Zealand Stocks: Kingsgate, Murchison, Newcrest, Tabcorp

Australia’s S&P/ASX 200 Index was little changed at 4,622.90 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index gained 0.7 percent to 3,264.92 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 futures for December delivery rose 1 percent yesterday to settle at $3.7935 a pound at 1:20 p.m. on the Comex in New York.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, climbed 0.8 percent to A$41.22. Rio Tinto Group (RIO AU), the world’s third-biggest miner, gained 0.7 percent to A$81.75.

Gold producers: Gold futures for December delivery rose 0.6 percent to settle at $1,344.20 at 1:52 p.m. in New York yesterday.

Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, climbed 0.4 percent to A$39.95. Newcrest said first- quarter gold production rose 79 percent, boosted by the acquisition of Lihir Gold Ltd.

St. Barbara Ltd. (SBM AU) advanced 2.6 percent to 40 Australian cents.

Kingsgate Consolidated Ltd. (KCN AU) slumped 9.4 percent to A$10.61. The second-largest Australia-traded gold producer by market value agreed to buy Dominion Mining Ltd. (DOM AU) for A$376 million ($371 million) in shares. Dominion jumped 16 percent to A$3.16.

Separately, Kingsgate was downgraded to “underperform” from “outperform” at RBC Capital.

Murchison Metals Ltd. (MMX AU) surged 12 percent to A$1.70. A judge yesterday dismissed Sydney-based gold explorer Chameleon Mining NL’s claim to a share of Murchison’s iron-ore project in Western Australia.

Santos Ltd. (STO AU), Australia’s third-largest oil and gas producer, slid 1.6 percent to A$12.26 after it said third- quarter sales dropped 4 percent as output fell. Production from the Exxon Mobil Corp.-operated Kipper gas project has been delayed.

Sims Metal Management Ltd. (SGM AU) plunged 7.2 percent to A$16.19 after the world’s biggest recycler of scrap metal reported first-quarter net profit.

Tabcorp Holdings Ltd. (TAH AU), Australia’s biggest gambling company, gained 4.6 percent to A$7.34 in the first day of trading since the company’s demerger statement.

Ten Network Holdings Ltd. (TEN AU) rose 1.6 percent to A$1.57. The broadcaster reported full-year net income of A$150 million, according to a regulatory filing.

New Zealand:

Restaurant Brands New Zealand Ltd. (RBD NZ) climbed 1.9 percent to NZ$2.63 after the owner of KFC, Pizza Hut and Starbucks franchises had its stock rating raised to “outperform” from “neutral” by analysts at Credit Suisse Group AG.

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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