Australian, N.Z. Stocks: Axa Asia Pacific, Brambles, Pyne Gould
Stock Chart for AMP AAPH Ltd (AXA)
Australia’s S&P/ASX 200 Index slipped 0.1 percent to 4,688 as of the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index climbed 0.5 percent to 3,328.23 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 for December delivery fell 3.3 percent to settle at $84.88 a barrel in New York on Nov. 12.
Gold producers: Gold futures for December delivery fell 2.7 percent to settle at $1,365.50 at 1:49 p.m. in New York on Nov. 12 amid concern China’s bid to rein in inflation will cool demand for industrial metals.
Newcrest Mining Ltd. (NCM AU), Australia’s biggest gold producer, lost 2 percent to A$41.66. St. Barbara Ltd. (SBM AU) declined 5 percent to 47.5 Australian cents.
Axa Asia Pacific Holdings Ltd. (AXA AU) surged 6.8 percent to A$6.17 in Sydney. AMP Ltd. (AMP AU), Australia’s second- biggest asset manager, and France’s Axa SA bid at least A$13.3 billion ($13.1 billion) for the company. AMP gained 2.3 percent to A$5.45.
Brambles Ltd. (BXB AU) jumped 5.4 percent to A$6.88. The world’s biggest supplier of wooden pallets bid 696 million euros ($951 million) for Ifco Systems NV to gain new customers in North America and Europe for reusable plastic containers.
Commonwealth Property Office Fund (CPA AU) dropped 5.9 percent to 84.5 Australian cents. The Australian property trust sold A$240 million worth of shares to partly fund the purchase of three A-grade office buildings in Melbourne, a stock-exchange filing showed.
Perpetual Ltd. (PPT AU) rose 1.5 percent to A$36.54. TPG Capital, CVC Asia Pacific Ltd. and Pacific Equity Partners were among private equity groups to have looked at Perpetual, as KKR & Co. LP continues talks over access to due diligence, the Australian Financial Review reported in its Street Talk column, without saying where it got the information.
PMP Ltd. (PMP AU) jumped 7.1 percent to 75 Australian cents. Australia’s largest contract printer was raised to “outperform” from “neutral” at Credit Suisse Group AG.
Qantas Airways Ltd. (QAN AU) slid 0.4 percent to A$2.79. A Qantas flight bound for Argentina returned to Sydney because of electrical faults, becoming at least the fourth plane operated by the carrier to abort a trip in less than two weeks.
Pyne Gould Corp. (PGC NZ) gained 2.4 percent to 42 New Zealand cents. The New Zealand investor plans to distribute most of its 72 percent stake in its financial service group if a merger of the institutions proceeds, according to a regulatory filing.
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