Australian, N.Z. Stocks: Hastie, Linc Energy, Mesoblast, Sigma

Australia’s S&P/ASX 200 Index rose 0.3 percent to 4,549.60 at the 4:10 p.m. close of trading in Sydney, snapping six straight days of losses.

New Zealand’s NZX 50 Index (NZSE50FG) dropped 1 percent to 3,488.75 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.

Hastie Group Ltd. (HST) dropped 18 percent to 16 Australian cents. The commercial air-conditioning company is considering raising about A$150 million ($160 million) of capital after reaching a reorganization agreement with lenders, the Australian Financial Review reported, without saying where it got the information.

Linc Energy Ltd. (LNC) gained 6.3 percent to A$3.19. The Australian company that converts coal into liquid fuels said it drilled its first oil exploration well in South Australia’s Arckaringa Basin.

Mesoblast Ltd. (MSB) surged 8.1 percent to A$8.59. The developer of stem-cell treatments said results of clinical trials of its Revascor cardiovascular product showed the company will be able to target “major new markets” for vascular disorders.

Sigma Pharmaceuticals Ltd. (SIP) climbed 8.3 percent to 45.5 Australian cents. The drugmaker was raised to “buy” from “hold” at Deutsche Bank AG.

To contact the reporter on this story: Shani Raja in Sydney at

To contact the editors responsible for this story: Nick Gentle at

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