Australian, N.Z. Stocks: Warehouse Group, Magma Metals

Australia’s S&P/ASX 200 Index declined 0.4 percent to 4,251.2 at the close of trading in Sydney, falling 0.9 percent through the week. New Zealand’s NZX 50 Index was little changed at 3,312.23 in Wellington, having retreated 0.5 percent this week.

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

Magma Metals Ltd. (MMW) surged 69 percent to 13.5 Australian cents after Panoramic Resources Ltd. (PAN) announced a takeover bid for the company. Panoramic Resources shares slipped 0.8 percent to A$1.26.

Warehouse Group Ltd. (WHS) slid 3.3 percent to NZ$2.95 after New Zealand’s biggest discount retailer cut its full-year earnings forecast as much as 11 percent because of pressure on profit margins.

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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