Australian, N.Z. Stocks: BlueScope, Gryphon, Newcrest, Paladin
Australia’s S&P/ASX 200 Index gained 0.2 percent to 4,605 at the 4:10 p.m. close of trading in Sydney. New Zealand’s NZX 50 Index (NZSE50FG) lost 0.4 percent to 3,460.83 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.
Gold producers: Gold futures rose 2 percent to $1,512.70 in New York yesterday. Newcrest Mining Ltd. (NCM) , Australia biggest gold producer, gained 1.8 percent to A$38.15. Rival St. Barbara Ltd. (SBM AU) climbed 2.6 percent to A$1.945.
BlueScope Steel Ltd. (BSL) , Australia’s biggest steel producer, surged 6.1 percent to A$1.385 before a planned announcement by the Australian government on carbon tax on July 10. Rival OneSteel Ltd. (OST) climbed 6.2 percent to A$2.05.
Paladin Energy Ltd. (PDN) rose 2.7 percent to A$2.69. The uranium producer was raised to “buy” from “hold” at Deutsche Bank AG.
To contact the reporter on this story: Shani Raja in Sydney at email@example.com.
To contact the editors responsible for this story: Nick Gentle at firstname.lastname@example.org.