Australian, N.Z. Stocks: Mirabela, BHP, Energy World, Woolworths
The following are among the most active shares today. Stock symbols are in parentheses after company names.
Mirbabela Nickel Ltd. (MBN) rose 7.7 percent to 90.5 Australian cents, the most since Oct. 27. Citigroup Inc. analyst Daniel Seeney raised his target price for the nickel producer to A$2.60 from A$1.60, with a “buy” rating.
Energy World Corp. (EWC) gained 7.4 percent to 73 Australian cents after the electricity producer said it entered into an agreement to raise the price of gas supplied to Indonesia’s Sengkang Power Plant.
Fortescue Metals Group Ltd. (FMG) rose 1 percent to A$5.83 after Australia’s third-biggest iron-ore producer said it plans to launch a $1 billion junk bond sale to help fund its expansion as well as the purchase of mining vehicles and equipment.
Rio Tinto Group (RIO) gained 1.5 percent to A$65.30 after iron-ore prices extended gains. The second-biggest iron ore exporter derived 78 percent of profits from sales of the steelmaking raw material last year. Rival BHP Billiton Ltd. rose 1.3 percent to A$35.61.
Woolworths Ltd. (WOW) , Australia’s largest retailer, rose 0.7 percent to A$25.59. The company sold A$500 million of seven-year bonds, expecting to be rated A- by Standard & Poors.
Intrepid Mines Ltd. (IAU) fell 6 percent to 85.5 Australian cents, the lowest level since Oct. 5, extending losses since news this month on an Indonesian decree related to changes in ownership that may affect one of its projects.
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