Australian, N.Z. Stocks: Intrepid, Orica, Newcrest, St. Barbara
Australia’s S&P/ASX 200 Index rose 0.2 percent to 4,194.70 at the 4:10 p.m. close of trading in Sydney. The gauge lost 1.1 percent this week, snapping two straight weekly advances.
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Gold producers: Gold futures for December delivery gained 2.2 percent on the Comex in New York yesterday, and as much as 1.2 percent today.
Newcrest Mining Ltd. (NCM) , Australia’s biggest gold producer, gained 0.8 percent to A$39.86. Rival St. Barbara Ltd. (SBM AU) climbed 1.3 percent to A$2.33.
South American Ferro Metals Ltd. (SFZ) jumped 24 percent to 23 Australian cents after saying it moved to “full production” at the Ponto Verde iron-ore project.
Intrepid Mines Ltd. (IAU) jumped 9.2 percent to A$1.43. The company, which explores for precious metals primarily in Indonesia, was rated new “speculative buy” at Canaccord Genuity Corp.
Orica Ltd. (ORI) gained 1.5 percent to A$23.97. The world’s largest industrial explosives maker said it doesn’t see authorities blocking plans to expand an ammonium-nitrate plant in New South Wales state amid public opposition after a chemical leak at the site, the Australian Financial Review reported, citing the company’s chief executive, Graeme Leibelt.
Resolute Mining Ltd. (RSG) surged 7.6 percent to A$1.775 after reporting “significant intercepts” after drilling around its Ravenswood gold mine in Queensland state.
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