Australian, N.Z. Stocks: BHP, Newcrest, Pacific Brands
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Energy stocks: Shares rose after crude oil for April delivery rose 1.4 percent to $106.16 a barrel on the New York Mercantile Exchange yesterday.
AGL Energy Ltd. (AGK) gained 1.5 percent to A$13.95. The Australian electricity retailer said it completed the allocation of as much as A$650 million ($688 million) in subordinated notes.
Kagara Ltd. (KZL) fell 7.9 percent to 17.5 Australian cents after the base metal miner was cut to “sell” from “buy” by UBS AG.
Newcrest Mining Ltd. (NCM) rose 0.1 percent to A$30.64. Australia’s largest gold producer gained after futures for April delivery of the precious metal rebounded from a five-week low.
Pacific Brands Ltd. (PBG) tumbled 2.9 percent to 66.5 cents, the clothier’s biggest drop in more than four months, after a report in the Australian Financial Review that takeover talks with KKR & Co. may stall.
Rio Tinto Group (RIO) , the world’s third-largest miner, advanced 0.4 percent to A$62.66. The company sees its global iron-ore production approaching 450 million tons a year in the next five years, executive Alan Davies said in a presentation in Germany yesterday.
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