Australian, N.Z. Stocks: Lynas Corp, Pacific Brands, PMP

Australia’s S&P/ASX 200 Index rose 1.3 percent to 4,279.9 at 10:25 a.m. in Sydney. New Zealand’s NZX 50 Index gained 0.7 percent to 3,323.25 in Wellington.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Lynas Corp. (LYC) advanced 17 percent to A$1.565 after Malaysia’s Atomic Energy Licensing Board granted the company a temporary operating license to begin refining rare earths under certain conditions following public protests.

Pacific Brands Ltd. (PBG AU) increased 4.7 percent to 66.5 Australian cents after the Australian Financial Review reported that TPG Capital is in talks with banks to finance a potential bid for the company that holds the rights to the Everlast, Clarks and Bonds brands.

PMP Ltd. (PMP) fell 6.3 percent to 45 Australian cents as the company forecast full-year earnings before interest and taxes 20 percent lower than guidance issued in November after poor sales volumes in its printing unit.

To contact the reporter on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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