BHP, Karoon, Medusa, Newcrest, ResMed, Roc, Ten: Australian, N.Z. Stocks

Australia’s S&P/ASX 200 Index rose 0.8 percent to 4,698.50 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index slipped 0.2 percent to 3,299.73 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 advanced from London to Shanghai as investors sought alternatives to a declining dollar and as manufacturing accelerated in China, the world’s largest user of industrial metals.

BHP Billiton Ltd. (BHP AU), the world’s largest mining company, climbed 0.9 percent to A$42.30. Rio Tinto Group (RIO AU), the third biggest, gained 0.4 percent to A$82.99.

Gold producers: Gold futures for December delivery rose 1.1 percent to settle at $1,357.60 in New York on Oct. 29. Gold gained as much as 0.7 percent today.

Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, gained 1 percent to A$40.37. Medusa Mining Ltd. (MML AU) jumped 6.1 percent to A$5.91 after releasing drilling results on Oct. 29.

CuDeco Ltd. (CDU AU), seeking to build the Rocklands project in Australia, leapt 8.8 percent to A$2.60 after saying in a statement that drilling continues to deliver high-grade copper results.

Gunns Ltd. (GNS AU) fell 3.7 percent to 65 Australian cents. The nation’s biggest woodchip exporter was downgraded to “sell” from “hold” at Deutsche Bank AG.

Karoon Gas Australia Ltd. (KAR AU) surged 5.6 percent to A$9.88. ConocoPhillips’ partner in a gas venture off northwest Australia was raised to “outperform” from “neutral” by analysts at Macquarie Group Ltd.

ResMed Inc. (RMD AU), the world’s second-biggest maker of machines to overcome night-time breathing disorders, slumped 4.1 percent to A$3.27. Goldman Sachs Group Inc. cut its rating on the stock to “hold,” citing a weaker-than-expected sales outlook for the company.

Roc Oil Co. (ROC AU) dropped 1.2 percent to 41 Australian cents. The energy explorer with assets in Australia, Asia and Africa had its stock rating cut to “neutral” from “buy” by analysts led by Gordon Ramsay at UBS AG.

Ten Network Holdings Ltd. (TEN AU) advanced 1.4 percent to A$1.46. The broadcaster offered James Packer and Lachlan Murdoch a board seat each less than two weeks after Packer’s Consolidated Press Holdings Ltd. acquired an 18 percent stake in Australia’s third-ranked television broadcaster.

New Zealand:

Contact Energy Ltd. (CEN NZ), New Zealand’s biggest publicly traded power company, gained 1 percent to NZ$5.91. Contact said it received preliminary approval for its proposed Tauhara II geothermal generation development in the central North Island.

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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