Australia’s S&P/ASX 200 Index slipped 0.5 percent to 4,778.40 as at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index declined 0.1 percent to 3,316.40 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.
Oil producers: Crude oil surged to its highest level in two years on Nov. 5 as U.S. payrolls rose more than forecast in October.
Ausenco Ltd. (AAX AU), an engineering company, rose 6.3 percent to A$2.52. Hancock Prospecting Pty Ltd., controlled by Australia’s richest woman Gina Rinehart, chose WorleyParsons Ltd. and Ausenco Ltd. to manage the A$7.5 billion ($7.6 billion) development of the Alpha coal mine.
Orica Ltd. (ORI AU) rose 2.9 percent to A$26.44. The world’s largest industrial explosives maker said full-year net income more than doubled after spinning off its DuluxGroup paints business.
Qantas Airways Ltd. (QAN AU) dropped 2.1 percent to A$2.80. Australia’s biggest airline has found issues with three more Rolls-Royce jet engines following testing after last week’s engine blowout that forced an emergency landing in Singapore, Chief Executive Officer Alan Joyce said in a radio interview with the Australian Broadcasting Corp. today.
Joyce later told reporters in Sydney today that Qantas doesn’t expect to put its Airbus SAS A380 planes back into service for at least another 72 hours. The carrier is continuing checks on its engines, he said.
QBE Insurance Group Ltd. (QBE AU) fell 1.2 percent to A$17.07. The Australian insurer was downgraded to “neutral” from “buy” at UBS AG.
Sedgman Ltd. (SDM AU), which supplies engineering services to the mining industry, slumped 3.8 percent to A$1.88 after having its stock rating cut to “hold” from “buy” by analysts at Royal Bank of Scotland Group Plc.
APN News & Media Ltd. (APN NZ) surged 4.2 percent to NZ$2.50. The company that owns New Zealand’s largest newspaper said it will raise at least NZ$150 million ($119 million) from the sale of bonds to New Zealand investors.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.