The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
BHP Billiton Ltd. (BHP) dropped 0.2 percent to A$34.92. The world’s biggest mining company is considering the sale of its diamond business, it said in a regulatory filing yesterday. Metals prices dropped 0.5 percent in London.
Aquila Resources Ltd. (AQA) climbed 3.5 percent to A$6.48. The company said it received conditional approval for the construction and operation of mining and associated infrastructure at its iron ore development in the Western Pilbara region, according to a regulatory filing. The approval includes a rail line to ship ore from the West Pilbara Iron Ore Project, in which Aquila holds a 50 percent interest.
Gloucester Coal Ltd. (GCL) gained 4.1 percent to A$7.69. The miner is targeting 5.5 million tons of production in the 2012 fiscal year and 10 million tons by 2015, according to a regulatory filing.
Metcash Ltd. (MTS) rose 1.5 percent to A$4.03. An Australian appeal court upheld Metcash’s acquisition of the Franklins supermarket chain from Pick n Pay Stores Ltd. The grocery wholesaler reported first-half net income fell 14 percent to A$94.4 million, according to a regulatory filing.
Bradken Ltd. (BKN) jumped 3.2 percent to A$7.33. The company said it completed a $200 million placement of debt with U.S. investors.
Regis Resources Ltd. (RRL) fell 0.3 percent to A$3.29. The company was rated a new “buy” at UBS AG with a price target of A$4.40.
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